Investment Criteria

NZVIF is looking for applications from potential co-investors which demonstrate the experience, credibility and professionalism required to deliver on the goals established by the Government for the Seed Co-investment Fund.

The key objectives for the Seed Co-investment Fund include to:

• develop greater scale and better networks for early stage investment in New Zealand;
• develop greater depth in the specialist skills needed to assess and manage early stage, technology-based investments;
• target the types of investments most likely to face acute problems in accessing finance because of a less well-developed market for early stage finance;
• provide financing that is additional and catalyses investment that would not have occurred without the programme;
• target market development in areas not already targeted by existing initiatives, such as the VIF Venture Capital Programme.

Successful applicants will be committed to making investments in innovative New Zealand companies which are at the seed or start-up stage of development.

Without limiting the factors which NZVIF may take into account when deciding whether to pre-qualify a prospective manager and co-investor alongside the Seed Co-investment Fund, we will consider the following in respect of an applicant:

• investment track record in early stage investments which would meet the Seed Co-investment Fund’s criteria (including whether successful investment exits and returns have been achieved);
• the investment experience and skills of the key individuals;
• reputation and references from investee companies and investment partners;
• the proposed investment strategy and investment process; and
• capacity to invest or access matching private capital.

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