Angel Association backs investor migrant rule changes

MEDIA STATEMENT

14 September 2015

Angel Association’s executive director Suse Reynolds says that changing investor migrant rules to direct a portion of investor migrant capital into angel, venture capital or private equity funds would be a terrific boost for early stage companies.

“We have seen considerable growth in the early stage investment sector over the past decade.  This has helped the development of a growing number of promising high growth companies.

“The lack of a meaningful pool of capital remains a key constraint.  If that pool was to be increased, we would have the capacity to be able to deploy greater levels of capital into startup and emerging growth companies.

“If wealthy migrants were required to invest into the growth areas of our economy, it will bring the New Zealand rules into line with what is happening in other developed countries.  Early stage investing is a long-term investment, so it will appeal to migrants who have a long-term commitment to shifting to New Zealand and investing here.

“It provides a powerful mechanism to integrate migrants into New Zealand society as early stage investment is a very collaborative affair. It’s not just the capital but the networks and skills the providers of that capital bring to the table.

“Some of the angel community’s most active investors and contributors are migrants – such as Trevor Dickinson, an active investor with AngelHQ in Wellington, who is from the UK and Dave Moskovitz, an immigrant from the US, who set up Webfund.  These new rules will appeal to angels who are interested in migrating to New Zealand.”

ENDS

For more information contact AANZ Executive Director, Suse Reynolds on 021 490 974 or [email protected]

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