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NZVIF to invest $6m in start-ups

  • Susannah Birkwood
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The New Zealand Venture Investment Fund (NZVIF) is making plans to invest up to NZ$8 million ($6 million) in New Zealand-based start-up firms.

For the purposes of this project, NZVIF - the government's venture capital and seed co-investment arm - is joining forces with Angel HQ, an angel investment group based in Wellington, New Zealand. Angel HQ is formed of around 30 investors who participate in a variety of start-up companies, mainly in the Wellington region.

"These partnerships are giving a boost to the amount of ready capital able to be deployed into investing into young businesses," said NZVIF chief executive Franceska Banga, who revealed that Angel HQ is the second angel group the fund has partnered with in Wellington in the past 12 months.

"This is swelling the pipeline of young technology companies who need new sources of investment capital as they develop," Banga added.

According to NZIF data, angel investors have deployed more than $200 million in New Zealand's early-stage technology companies since 2006.

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