Questions over NZ govt proposal to fund foreign venture capital managers

By Jenny Ruth | Wed, 06 Nov 2019


Another of New Zealand's home-grown venture capitalists is questioning why the New Zealand government is proposing to provide funding to foreign managers."With no disrespect to the managers currently exploring setting up in New Zealand, over the last 20 years we've seen a number of offshore funds fly in, stay for a while, grab the best deals and then up sticks and head off somewhere else when they get bored or there is an economic downturn," says Movac managing partner Phil McCaw.In a submission to the Ministry of Business, Innovation and Emplo...