Movac gets more Elevate money

Venture capital firm Movac has tapped the government’s Elevate fund for at least $15 million in its new Emerge Fund 4, which is targeting high-growth early-stage tech companies. The Elevate fund, which is managed by NZ Growth Capital Partners, will invest as much as $25m in the Movac fund, which has so far received $30m of commitments and is targeting $50m. Movac is pitching the fourth emerge fund as following the strategy of investing early and participating with larger and increasing investments in later rounds, which were suc...