New Zealand, Taiwan ink $200m co-investment pact

NZVIF - the New Zealand government's venture capital and seed co-investment arm - and NDF will each inject up to $25 million into new venture vehicles, which will be required to raise 40% of their total capital from private sources. A minimum of 50% of each fund will be invested into New Zealand-based businesses.

"The partnership could see up to five VC funds established to invest into high-growth companies from New Zealand and Taiwan," commented NZVIF CEO Franceska Banga. "For New Zealand companies receiving investment, the partnership offers significant benefits in opening up access to Taiwanese expertise, follow-on capital, and extensive networks into Asia."

She added that Taiwan is New Zealand's eighth largest export market and already an important source of investment for the country. It has a strong venture capital sector and has made considerable progress in developing its high-tech sector across a number of industries, including green technology.

News of this agreement comes after NZVIF and NDF announced plans earlier this year to establish a NT$5 billion (US$169.39 million) joint venture fund to target Taiwanese and New Zealand-based early-stage companies principally in the cleantech and biotech sectors. The fund would also focus on firms in the fields of manufacturing, agriculture and information and communications.

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• Topics
• Australasia
• Greater China
• Venture
• Venture
• Taiwan (China)
• New Zealand Venture Investment Fund