NZVIF board appointment announced

Economic Development Minister Steven Joyce today announced the appointment of David Flacks to the board of the New Zealand Venture Investment Fund Ltd (NZVIF).

“NZVIF plays an important role in developing the start-up and growth capital markets for New Zealand-originated companies with high-growth potential,” says Mr Joyce.

“David is a highly experienced lawyer and is currently a member of the Takeovers Panel, director of Vero Insurance NZ Ltd, and Chair of the NZ Markets Disciplinary Tribunal.”

Mr Flacks brings a combination of legal and governance experience that will complement the skills of fellow board members Murray Gribben (Chair), Anne Blackburn (deputy chair), Roger Bridge and Richard Hughes.

“NZVIF has made and continues to make an important contribution towards the diversification of the New Zealand economy, and the development of exciting new companies and industries,” Mr Joyce says.

Since its establishment as a government-owned and funded company, NZVIF has invested $147 million, alongside private investors, into 187 of New Zealand’s most promising growth companies including Xero, Orion Health, PowerbyProxi, Vend and Booktrack. 

Those companies have raised total investment capital of more than $1.4 billion. Four NZVIF-backed companies have market capitalisations of more than $50 million and seven have listed on stock exchanges.

For more information about NZVIF visit: http://www.nzvif.co.nz/