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The NZ Venture Investment Fund has signed up a fifth partner, Dunedin-based Upstart Angels, to co-invest seed funding into businesses.
Year-old Upstart Angels will focus on technology-related deals, making investment decisions while the NZ venture fund will provide matching capital and investment knowledge.
Upstart Angels, which emerged from the Dunedin-based Upstart Business Incubator, has already identified its first co-investment deal into an information technology company called Daestra NZ.
"The partnership with NZVIF will complement the investment activity of our 90 angel investors, allowing us to support more companies," Upstart chief executive Norman Evans said.
The NZVIF $40 million Seed Co-Investment Fund aims to help develop angel investor networks and stimulate investment into innovative start-up companies.
