There will be no transfer of wealth from taxpayers to private investors, if the Crown-owned New Zealand Venture Investment Fund is allowed to reinvent itself, chief executive Richard Dellabarca says.
Dellabarca said there was a gap in the finance market for a venture capital fund with assets of about $300m to $500m that could provide “Series A” funding of the order of $5m to $30m to Kiwi companies.
“If NZVIF is going to do anything, it is going to be in this space, and we have got to think what is the best way to leverage the assets, capital and experience we have,” he said.
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