A group of original Trade Me investors is seeding a new venture capital fund to help more early-stage companies.
Wellington investment firm Movac, which consists of several of the first Trade Me shareholders, has announced a new growth capital fund in conjunction with the New Zealand Venture Investment Fund.
The fund, of between $25 million and $50m, aims to crash-start New Zealand's high-risk venture capital industry, which has been struggling to find financiers following the financial crisis.
Movac managing partner Phil McCaw said a growing number of angel-funded companies had no access to critical "follow-on" capital for expansion.
To read the full, original article click on this link: Fund aims to 'crash start' investment - business | Stuff.co.nz
Author: CATHERINE HARRIS
