Minister wants NZVIF’s Seed fund to deliver better returns

Economic Development Minister Simon Bridges wants the New Zealand Venture Investment Fund to deliver bigger returns under a new investment framework for the Seed Co-investment Fund that will let the early-stage investor take a more active approach.

Among the changes, the government has raised the investment cap for the $52 million NZVIF-managed Seed Co-investment Fund to $1.5 million, ditched the $250,000 funding limit, which Bridges in a statement said will generate stronger commercial returns and better support new start-up companies. A cap on how much can be invested alongside each angel network has been dropped in favour of a $1 million notional commitment, and NZVIF will also be allowed to co-invest with qualified investors outside the traditional angel networks provided it will support promising companies that are trying to commercialise a product or service.

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