Press Release – NZ Venture Capital Association
NZVCA welcomes the release of the sixth Business Growth Agenda progress report on Government actions to build capital markets.27 February 2013
Private markets matter
NZVCA welcomes the release of the sixth Business Growth Agenda progress report on Government actions to build capital markets.
NZVCA Executive Director Colin McKinnon said “the private ownership of business assets represents a large proportion of the equity for New Zealand businesses and government is recognising that private capital markets matter.
“The latest report includes initiatives encouraging efficient private capital markets and supporting early stage and growth capital markets. NZVCA supports the initiatives and encourages the Government to execute and complete the action plan.
“KiwiSaver initiatives are important to improve the beneficial effect on New Zealand’s broadly-defined capital markets – this includes disclosure regimes for investors that compare fund performance.
“The underwrite support for New Zealand Venture Investment Fund is welcomed. Venture capital funds are key capital providers to young innovative firms prior to these businesses having the track record to access more traditional debt or equity sources.
NZVCA represents private capital investors in the New Zealand market including institutional investors and fund managers from Australia and New Zealand with equity committed to growth companies in New Zealand. The private equity industry has Invested over $4.3 billion in seven hundred New Zealand companies over the last 10 years.