NZ Super backs local tech ventures via VC fund
The New Zealand sovereign fund continues its allocation to one of the biggest growth sectors in the local economy.
The New Zealand Super Fund (NZ Super) is extending its commitment to venture capital-hungry technology companies via its latest allocation to New Zealand VC fund firm Movac.
The super fund is looking to invest in fast-growing, established local technology companies with the potential to scale to more than NZ$100 million ($62.2 million) in revenue. It will commit 50% of the first-close fund target of NZ$100 million, with scope to increase that to NZ$70 million commitment, depending…
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