Following MORGO, the New Zealand media has carried several features on the state of the NZ Venture Capital and NZ Angel Investor sectors. The conclusions are interesting.
All the evidence is that the Angel Investor community is growing strongly. There are increasing numbers of high net worth individuals prepared to work in concert and consider start up and early stage business investments.
The VC sector is, by contrast, in 'dire straights'. At least that's the view of Jenny Morrell of No 8 Ventures, on of New Zealand's most active. According to Friday's New Zealand Herald, No 8 Ventures are looking to raise $NZ100 million, but that outcome is by no means certain.
A strong local capital market is essential if New Zealand companies are to grow on the global stage. As we approach the upcoming General Election, it will be interesting to see if any of the major parties identify this as a key economic objective. At the moment, that jury is out.
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