Punakaiki seeks more VC capital where govt sees market failure

Wed, 30 Oct 2019

The government is so convinced that the market in New Zealand has failed when it comes to providing venture capital to fledgling businesses, particularly technology businesses, that it is setting up a $300 million fund to fill that gap.Lance Wiggs' Punakaiki Fund is not only demonstrating it can be done without government funding, but is doing it through a public company with retail shareholders.The fund, now valued at $49.3 million, says on its website that it's the only such retail fund in New Zealand but Wiggs isn't ready to list Punakaiki o...

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