Finance Minister announces $100m to elevate Elevate

Finance Minister Nicola Willis (Image: NZME)

Tue, 13 May 2025

Finance Minister Nicola Willis announced another $100 million for the venture capital fund Elevate in a pre-Budget speech on Tuesday."The short-term goal is to increase startup funding. The long-term goal is to help build a self-sustaining venture capital market in New Zealand in which returns from previous investments fund future investments," she said. Elevate is a government-funded $300m “fund of funds” programme tied to the New Zealand Superannuation Fund. Rather than investing directly in startups, it invests in...

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