News
0 Cleantech start-up Mint Innovation raises $5.2M

Cleantech start-up Mint Innovation has raised almost $5.2 million from mostly Kiwi investors as it starts preparing for commercial deployment.

The biotech firm has developed techniques using chemistry and microbiology to recover valuable metals from electronic waste, which makes it easier for the recyclers to secure as much value as they can. Mint Innovation has been running a pilot project in Auckland and now wants to scale up with a view to launching commercial operations in 2020.

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0 NZVCA appoints New Chair

Andrew Frankham, Director & CFO of Direct Capital is the new chairman of the New Zealand Private Equity and Venture Capital Association. He succeeds Matt Riley, Executive Director of Waterman Capital.Andrew Frankham, Director & CFO of Direct Capital is the new chairman of the New Zealand Private Equity and Venture Capital Association. He succeeds Matt Riley, Executive Director of Waterman Capital.

David Bell, CFO of Oriens Capital, has been reappointed as NZVCA Treasurer.

Andrew has been with Direct Capital since January 2010, overseeing all aspects of investment structuring, financial reporting, tax and compliance and investor relations. Prior to that he was Group Finance Manager for an Auckland private equity expansion investor.

‘Andrew is a highly respected advocate for private equity markets in New Zealand and shares our understanding that private equity and venture capital firms accelerate the ambition of New Zealand business owners through operational improvement and investment performance,’ says NZVCA Executive Director, Colin McKinnon.

Mr McKinnon adds: ‘We are fortunate in New Zealand to share many examples of private capital partnering with companies to improve growth and performance, to share expertise and capital. This ultimately delivers improved productivity, creates jobs and contributes to the national economy.’

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0 Green investment fund faces challenges of size and scope

ANALYSIS: The new board of New Zealand Green Investment Finance, a new $100 million Government-funded venture, faces a complex task.

It effectively has two different goals, which do not sit comfortably together.

As well as boosting funds flowing into projects which cut the carbon footprint of the New Zealand economy, it also tasked with turning a profit.

This could create a conflict, not because green technology is inherently unprofitable, but because the company is meant to act as a means to boost projects which the market is failing to back.

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0 Coller Capital Global PE Barometer Winter 2018-19

Venture capital is paying off for the two thirds of LPs that invest in this area – the Coller capital Barometer shows that investors’ return expectations have improved significantly in the last five years. More than four in five venture investors expect to achieve annual net returns of over 11% from their North American investments over the next 3-5 years. The same is true for two thirds of LPs investing in European venture capital, and over three quarters of investors in Asia-Pacific-focused venture.

In terms of industry focus, today’s venture investors plan to boost their exposure to internet and software, healthcare, and fintech especially.

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0 The biggest Series B raise in Australian history just tipped $111 million into workforce software startup Deputy

Deputy, an Australian workforce management software startup, has set new benchmark for series B raise, pulling in $US81 million ($A111m) from US backers.

VC firm IVP, the Silicon Valley investment business that previously backed the likes of Dropbox, Slack and Twitter, led the round with support from OpenView.

Based in Sydney, Deputy has been around for a decade, and previously raised $US25 million ($A33m) in a Series A round backed by OpenView and Australian VC firms Square Peg Capital and EVP.

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