In the past two years, these has been a resurgence in Australian venture capital funds. In 2016, there was an estimated $883m of dry powder available for investment, and they are actively seeking quality deal flow out of New Zealand to deploy these funds.
“New Zealand technology companies have been interested in tapping into this market as they look to fund their international expansion’” says NZTE Investment Manager in Sydney, Shelley Chatfield.
In recent years a number of Australian funds have invested into New Zealand tech start-ups, including 90 Seconds (Airtree Investment), Vend (SquarePeg), 8I (OneVentures) and PredictHQ (Rampersand).
In August this year, NZTE in partnership with Amazon Web Services, will bring a group of Australian investors to New Zealand.
The aim of the visit is to introduce the Australian fund managers to a range of New Zealand technology companies and to give those companies the opportunity to present to the Australian investors.
“The New Zealand technology sector has been growing strongly,” says Chatfield. “This visit will be an opportunity to highlight to these investors the exciting range of opportunities in New Zealand, and the quality of products and services our tech companies are developing.”
Some of the Venture Capital funds who are visiting include:
• NAB Ventures
• Square Peg
• Blue Sky
• Right Click Capital
• Black Sheep Capital
• Equity Ventures
Further details on how tech companies can be involved are available here. Companies now have until Monday 24 July 5pm NZT to enter their application to pitch to the investors.
NZTE’s Investment team will work with the New Zealand technology companies who are selected to present to ensure they are well prepared.