Lance Wiggs lodges prospectus for up to $50M for venture capital fund

Wed, 21 Aug 2013

Aug. 22 (BusinessDesk) – Punakaiki Fund, set up by Pacific Fibre co-founder and internet commentator Lance Wiggs, is seeking to raise up to $50 million to invest in early stage New Zealand technology, internet and design companies. The fund registered a prospectus for an initial public offering of $20 million of shares at $1 apiece with oversubscriptions for a further $30 million. Punakaiki will be managed by Lance Wiggs Capital Management, which is 66.7 percent owned by Lance Wiggs and 33.3 percent owned by Chris Humphreys. Between 30 per...

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