New chairman for venture investment fund

Economic Development Minister Trevor Mallard today announced the appointment of Chris de Boer as the new chair of the New Zealand Venture Investment Fund.

Mr de Boer starts work next week, replacing John Grant who has retired after holding the position since the fund was formed in 2001.

It invests in local companies to help commercialise innovative ideas.

So far it has put $101 million into 35 companies in the biotechnology, software, telecommunications and creative sectors.

Mr Mallard said Mr de Boer would bring extensive skills and experience to the fund.

"He is a senior practitioner in the New Zealand venture capital markets with over 30 years' experience in investment banking, takeover regulation, private equity and corporate finance in London, Hong Kong and Australasia," Mr Mallard said.

- NZPA