Budget 2019: Govt raids Super Fund to boost venture capital funding

Thu, 30 May 2019

By Pattrick Smellie May 30 (BusinessDesk) - The government will divert $240 million of contributions to the New Zealand Superannuation Fund and combine it with $60 million of assets held by the Venture Investment Fund to improve access to capital for growing, mid-sized businesses that struggle for growth. “This will help keep more start-ups in New Zealand for longer and support the proportion of New Zealand ownership,” said Economic Development Minister David Parker. The new fund would draw on the NZ Super Fund Guardians’ advice for “a...

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