The budget announcement of a $300m commitment to accelerate ambitions for the New Zealand venture capital industry

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Venture capital industry ready to accelerate growth ambitions

The budget announcement of a $300m commitment to accelerate ambitions for the New Zealand venture capital industry was welcomed by the New Zealand Private Capital Association and Angel Association New Zealand.

NZ Private Capital Executive Director, Colin McKinnon, said ” “It has long been recognised that there is a gap in the market particularly when it comes to accessing capital in the start-up and early growth end of the market.”

“The proposed Government programme is expected to help private investors establish new funds, that will invest in New Zealand’s most promising fast-growth companies.”

We acknowledge the success of the Angel Association in developing networks that invest in early stage businesses. Now with this new package announced today, we hope to work alongside the Angel’s to build a larger venture capital market for the benefit on NZ entrepreneurs.”

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