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$8m on offer for Wellington start-ups

07 Dec 2011

Wellington-based investment group Angel HQ has teamed up with national venture capital provider the New Zealand Venture Investment Fund (NZVIF) in a move that will create an $8 million funding pool for promising businesses.

Established by the government in 2002, NZVIF partners with 13 other investment groups – including another in Wellington – through its $40 million Seed Co-Investment Fund. It has promised to match every dollar invested by Angel HQ, up to a value of $4 million.

Angel HQ chairman Bruno Bordignon says some very exciting companies are emerging in the Wellington region. "The missing factor for many start-ups is capital,” Bordignon says.

The partnership is expected to run for around four to five years, investing in 15 to 20 young companies in that time.

Go here for more on Angel HQ, or here for NZVIF.