Movac raises $202m for its latest venture capital fund
Venture capital firm Movac has successfully raised $202m for its latest venture capital fund, having secured NZ Super Fund, Fisher Funds, Generate KiwiSaver and Government Superannuation Fund as key institutional investors. This is alongside a number of Iwi, community trusts, family offices and individual investors.
Movac Partner Mark Vivian said: “With our success from making very early-stage investments in the likes of PowerbyProxi, Aroa Biosurgery and Greenbutton, our team has skills and experience of supporting highly disruptive deep tech companies who are building solutions for massively valuable problems. We’re bullish about the early-stage part of the Kiwi tech ecosystem and are enthused by the strong investor interest we’ve had so far in Movac Emerge Fund 4.”
Fisher Funds Chief Investment Officer Ashley Gardyne said: “It is excited to be investing in Growth Fund 6 on behalf of its KiwiSaver clients. Movac is New Zealand’s leading venture capital manager, with a strong investment track record and a history helping successful New Zealand companies like Vend and Unleashed Software succeed on the global stage. With funding markets currently more challenging for growth companies, we believe now is an opportune time to be making this investment, as Movac seeks to invest in New Zealand’s future success stories. Investing in private growth companies in New Zealand has the potential to deliver investment returns over and above listed markets, while also supporting innovation and creating high value domestic jobs.”
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