By Nick Stride
Friday 27th June 2003
|Text too small?|
IGlobe has raised $20 million from Accident Compensation Corporation and two Singapore funds, government-owned TIF Ventures and Green Dot Capital, a subsidiary of Singapore Technologies Group.
The remaining $10 million comes from the Venture Investment Fund.
The Singaporean participation is being promoted as a way of leveraging New Zealand innovators into world markets.
Venture Investment Fund cash has also been allocated to managers TMT Ventures, No 8 Ventures and Endeavour i-cap on the same two-to-one private sector/government basis as iGlobe.
A fifth manager, IO Fund, run by Infratil and Orion New Zealand, last week exercised buyout rights following "changes in key personnel and a strategic review."
With the $20 million returned to it and $15 million as yet unallocated, the Venture Investment Fund is looking at investing in biotechnology-specific funds and/or giving further capital to existing managers.
No comments yet
Government package for commercial leases too little, too late
Concerns over Government’s intervention in commercial leases
Development Commitment to Bowen Campus Stage Two
Vista Group International Limited - Update on the impacts of COVID-19
AFT secures Maxigesic IV® distribution in four Western European countries and reports Australasian market share gains in COVID-19 medicines
Investore Property Limited (Investore) today announced its financial results for the twelve months ended 31 March 2020 (FY20).
Rabobank GDT Analysis - Event 261
SkyCity Entertainment Group Limited - Update on COVID-19 Impacts and Recent Trading
ANZ announces sale of UDC Finance
Foley Wines Limited Announces Harvest Result, Earnings Outlook and Development in Martinborough