Punakaiki Fund presses pause on listing as its venture assets near $100m

Fund manager Lance Wiggs says Punakaiki earned a record profit of $15.8m in the year ended March. (Photo: Twitter)

Thu, 28 Jul 2022

Venture capital firm Punakaiki is postponing a public listing due to the slump in international tech stock valuations.Punakaiki is on the verge of reaching $100 million of assets under management, a level it has previously said would trigger talks about going public. However, chair Mike Bennetts said this plan was being put on hold due to the sharp fall in the valuations of publicly listed technology stocks over recent months. “We anticipate that it would be a difficult time to make an initial public offer but will continue to w...

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