Seed Co-Investment Fund

The Seed Co-Investment Fund (the Fund) is managed by The New Zealand Venture Investment Fund Ltd (NZVIF), and is an equity investment fund aimed at small to medium sized businesses at the seed and start-up stage of development that have strong potential for high growth.
The key objectives of the Fund is to enhance the development of angel investor networks, stimulate investment into innovative start-up companies, and to increase capacity in the market for matching experienced angel investors with new, innovative start-up companies.


The Fund commenced in July 2005 and provides $40 million of matched seed funding to support the further development of early-stage investment markets through a co-investment fund alongside selected Seed Co-Investment Partners.

Key Features of the Seed Co-investment Fund

  • A total of $40 million will be available for investment through the Fund over a 5-6 year period;
  • The Fund will operate for a period of 12 years in total, with an expected investment period of 5-6 years;
  • Seed-stage and start-up investments will be eligible for the Fund;
  • Investment alongside selected private investor groups ("approved co-investors");
  • $4 million total per co-investment partner;
  • Investments through the Fund would be limited to a maximum investment of $250,000 in any one company or group of companies; with the possibility of another $250,000 in follow-on capital at the discretion of NZVIF;
  • 50/50 matching private investment is required for the Fund to invest;
  • To act as a direct investor on the same terms as the co-investment partner;
  • Any investments must be made in New Zealand businesses. A New Zealand business is defined as having the majority of assets and employees in New Zealand at the time that the initial investments is made;
  • To act as a direct investor on the same terms as the co-investment partner;
  • The Fund will exclude investment in property development, retailing, mining and hospitality industry businesses.

Future Calls for Applications

For further information please contact Richard Palmer, Investment Director on

Tel: 09 951 0170 or Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

The Seed Co-Investment Partners below have been selected by NZVIF for their investment networks and dedicated team with strong talents and a commitment to building early stage New Zealand companies.

  • Chrysalis Capital Partners
  • Cure Kids Ventures
  • Ice Angels
  • Manawatu Investment Group
  • Powerhouse Ventures
  • Sparkbox
  • Upstart Angels
  • Pacific Channel