NZ Super backing proposed VC funding initiative

The New Zealand Super Fund is getting behind a government initiative to develop the country’s venture capital market and see more private sector investment managers, both domestic and international, active in the sector. A parliamentary bill is scheduled to be tabled this week for the introduction of a new Venture Capital Fund that will be financed in the main by the NZ$42 billion ($27 billion) NZ Super Fund. The new fund’s purpose is to plug a perceived gap for New Zealand-base…