The Venture Capital Fund is a fund-of-funds program, to be launched in early 2020, aiming to provide high-growth New Zealand companies with access to Series A and B capital and develop the New Zealand venture capital ecosystem.
01 / Process & Criteria
Our Investment Process_
The Venture Capital Fund (VCF) will invest into venture capital funds that are primarily looking to make Series A and B stage investments (round sizes between $2 – $20 million) into New Zealand companies. The Policy Statement relating to the Venture Capital Fund Act 2019 sets out the high level policy directions and parameters. To read the Policy Statement click here.
To read a list of frequently asked questions, including further details on the VCF's purpose, the selection process and other guidelines click here.
NZVIF makes an initial assessment of whether an allocation to a potential fund manager would potentially qualify for investment by the VCF. Feedback letter provided confirming eligibility or, if not, reasons why.
Prospective funds progress capital raising and address any issues identified in Initial Screening Feedback letter.
Detailed Due Diligence
Investment Committee will approve certain potential funds to progress to full due diligence based on initial screening review, progress with fund raising and VCF portfolio allocation framework. Detailed due diligence will focus on VCF Conviction Review and using VCF portfolio allocation framework. Key terms of allocation also agreed at this stage.
Conditional Allocation Letter
Subject to satisfactory completion of due diligence and VCF Investment Committee approval, successful funds will be issued with a time bound conditional allocation letter. Unsuccessful funds will be provided with feedback and where relevant timelines to re-apply.
The fund manager provides evidence of external capital and satisfaction of any other conditions.
Final Approval and Allocation
Final documentation is agreed and allocation is confirmed.
To read about the Venture Capital Fund 1.0 please click here.
View our Portfolio
NZVIF has, alongside our partners, invested into over 200 companies. Here is our current portfolio.Portfolio
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Venture Capital Fund
For more information on the processes and criteria for fund selection. View our VCF Factsheet.Download