MOVAC has raised $30 million for its growth capital fund, AltAssets reports. The MOVAC III fund, which was seeded by MOVAC Partners, is backed by the New Zealand Venture Investment Fund (NZVIF).
The product will invest in entrepreneurial companies that are seeking to expand into the venture capital sector. Depending on the total amount raised from private investment, the NZVIF will commit between $10 million and $20 million to the fund.
Click here for the story from AltAssets.
Click here for additional coverage from Otago Daily Times.