Major new trans Tasman healthcare fund:
This article was originally published in Clinica
A new venture capital fund of NZ$150m (US$110m) is seeking to invest in companies from a broad range of life science sectors, including medical devices. BioPacificVentures (www.lifescienceventures.co.nz) is a collaboration of New Zealand venture capital firms AgResearch and Direct Capital, and one Swiss firm iventages venture capital. Its cornerstone international investor is Nestle, and Wrightson for New Zealand. "Monies are available immediately", Dr Andrew Kelly, of Direct Capital, told Clinica. "However, our expectation is that investing the money will take several years. We have advised our investors to expect six years of investment followed by six years as the companies grow and mature."