Policy Statement for Venture Capital Fund
Published: 19 December 2019
The Government issued the Venture Capital Fund Policy Statement on the 19th December 2019. It outlines the high level requirements for investments from the new $300m venture capital fund and gives effect to the Venture Capital Fund Act which was assented to on the 13th December 2019.
The Policy Statement covers key definitions and requirements around Domestic and International Fund Investments including, the private capital requirements, at what investment stage money should be allocated, how co-Investment with Underlying Funds will work and other requirements that the Guardians must take into account when implementing the requirements of the Act.
With the publication of the Policy Statement, we are on track to seeing the Venture Capital Fund operational in the New Year. The Fund will play an important role in building a more productive, inclusive and sustainable economy. New Zealand needs young, fast growing firms operating in a healthy, well-capitalised start-up ecosystem that helps lift New Zealand’s productivity through greater technology and innovation.
For more information please see the Policy Statement at the Beehive website(external link)
The New Zealand Venture Investment Fund (NZVIF) will implement the Fund on behalf of the Guardians, and will be formally engaging with private sector fund managers.
For more information please see the New Zeland Venture Investment Fund website(external link)
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