Movac announces launch of Movac Fund 4
Last week we announced the launch of our new growth capital fund, Movac Fund 4!
Movac Fund 4 will continue the work of our previous funds. It will be a sizable fund in the New Zealand market – at between $80 million and $100 million. We were also able to announce that, after a vigorous due diligence process, we’ve secured a cornerstone commitment of $20 million from the New Zealand Venture Investment Fund.
Movac Fund 4 will be focused on ‘later stage’ companies; those that are raising growth capital in the post seed and angel investment stages, that have a team in place to grow the business, and which have the ambition and potential to scale to $100 million-plus in revenue.
We continue to see significant demand for growth capital funds of this nature in New Zealand. While the angel investment community is thriving, and the private equity market is well serviced, accessing rounds of $2 million to $10 million in growth capital funding remains very difficult for New Zealand companies
We’re really encouraged by the quality of the companies, and the people behind them, that approach us seeking investment to grow their businesses. Movac Fund 4 will directly address this gap in the market and provide local investors with the opportunity to participate in high growth technology investments that are typically very difficult for them to access on their own.
We’ve got some exciting companies in the pipeline, all with solid revenue traction, exciting international opportunities, and impressive growth potential. We can’t wait to start investing in these companies, and working with them closely to accelerate rapidly.
If you’re a wholesale or eligible investor, are interested in supporting the next generation of New Zealand technology companies, and interested in doing this through in investing in Fund 4, please contact Mark Vivian.
Fund 4 Announcement Press: