AVCJ

Taiwan, New Zealand launch $169m venture fund

  • Susannah Birkwood
  • LinkedIn  
  • Google plus  
  • Save this article  

Taiwan’s National Development Fund (NDF) has agreed with New Zealand Venture Investment Fund (NZVIF) to establish a NT$5 billion (US$169.39 million) joint venture fund.

NDF and NZVIF - the New Zealand government's venture capital and seed co-investment arm - will contribute equally to the new vehicle, which will target Taiwanese and New Zealand-based early-stage companies principally in the cleantech and biotech sectors. It will also focus on firms in the fields of manufacturing, agriculture and information and communications.

This is first time that Taiwan has signed an investment agreement with a foreign state-owned fund. Both sides plan to sign a formal strategic cooperation agreement in six months.

Last December, NZVIF announced it was making plans to invest up to NZ$8 million ($6 million) in New Zealand-based start-up firms. For the purposes of this project, it joined forces with Angel HQ, an angel investment group based in Wellington, New Zealand, which is formed of around 30 investors who participate in a variety of start-up companies

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

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Australasia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs