“We have many innovative mid-sized new businesses here that have been limited by lack of funds. The country hasn’t historically invested in developing these vibrant businesses, which have huge potential for growth. It’s important that we support Kiwi businesses with investment that allows them to stay Kiwi owned, so we can keep jobs and intellectual property here,” says Yeo.
“It’s important that the government sets well-defined goals for this new fund. The announcement will be welcome news to many businesses today, but we need more specific guidance on what the objectives of the fund are and what kind of companies it will target before they get their hopes up.”
“We know from our own Booster Tahi Fund that there is enormous potential to harness active investments, so it’s great to see the Government acknowledging the capital gap for companies between $2-15million that move beyond initial start-up.”
Booster’s Tahi fund is invested in horticulture, wine and soon, high-end manufacturing. Investors can contribute to these unlisted assets, either directly or through Booster’s KiwiSaver funds.
“Only a fraction of New Zealanders invest back into New Zealand businesses, instead preferring passive investments such as housing. Active investment in Kiwi ventures will keep us thriving. It’s great to see the Government showing confidence in our mid-sized local businesses and encouraging growth through venture capital.”
Learn more about Tahi