Global tech selloff seeps into venture valuations

Global tech selloff seeps into venture valuations
GD1 managing partner Vignesh Kumar says larger startups will come under pressure to prove they are worth their valuations. (Image: Supplied)
Dan Brunskill
Climbing interest rates are beginning to take some heat out of New Zealand's startup sector, which had been experiencing something of a boom during the past 18 months.Local venture funds raised more than half a billion dollars last year, as investors looked for places to put money with interest rates at near-zero around the world.Angel Association NZ chair, Suse Reynolds, said the sector was unlikely to see that kind of growth again without the extraordinary pandemic environment.“It was in the context of a unique macro backdrop, low i...

More Markets

NZ sharemarket flat ahead of weekend
Markets Market close

NZ sharemarket flat ahead of weekend

The S&P/NZX 50 Index closed at 12,261.23, down 3.84 points or 0.03%.

Graham Skellern 19 Jul 2024
Michael Hill International forecasts sharply lower earnings
Retail

Michael Hill International forecasts sharply lower earnings

The middle of the forecast range is a 75% drop year-on-year. 

Gregor Thompson 19 Jul 2024
Analysts diverge on Ryman outlook
Property

Analysts diverge on Ryman outlook

There is a gap of nearly $3 between Jarden and ForBarr's 12-month target prices.

Gregor Thompson 19 Jul 2024