Markets

Global tech selloff seeps into venture valuations

Dan Brunskill
Tue, 10 May 2022

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
Tue, 10 May 2022
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...

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