Foreign investors, mature startups redraw New Zealand’s VC funding landscape
... This boost in access to capital can be attributed to a few things. Even as a small country, New Zealand has a reputation for producing global companies, with notable exits like Vend, Seequent, Rocket Lab, Pushpay, Aroa Biosurgery, LanzaTech and Xero garnering the attention of foreign investors — like Founders Fund, Sequoia, Horizons and Aspect Venture Partners — who are either investing into local VC funds or directly into startup rounds. Those exits are providing returns, which investors are putting into other early-stage New Zealand startups to keep the ecosystem healthy and churning. ...
One of the biggest catalysts of the increase in VC investments, however, has been the Elevate NZ Venture Fund, a $300 million fund of funds program that will invest capital into VC firms over the next five years. ...
New Zealand’s government established the New Zealand Capital Growth Partners (NZGCP) in 2002 as an initiative to stimulate the early-stage startup ecosystem. After about 18 years of smaller-scale projects, the entity came up with the Elevate fund, and that might just be what gets today’s New Zealand early-stage startups into the next phase. ...
See the full story here: https://techcrunch.com/2021/12/26/new-zealands-maturing-vc-funding-landscape-piques-interest-of-foreign-investors/?utm_medium=TCnewsletter&tpcc=TCdailynewsletter
