Earlier this month, independent investment and business advisor Lance Wiggs and his team launched an equity crowdfunding campaign on Snowball Effect to raise funds for their growing venture, Punakaiki Fund.
Punakaiki Fund revealed that it invests in premier high-growth companies from New Zealand. The company has investments in Mindscape, Timely, Onceit, Vibe Communications, InfluxHQ, RedSeed, Melon Health (Social Code), Weirdly, Boardingware and Revert. It shared:
“Punakaiki Fund led or were the largest investor in the investment round for each of these companies, and we have a very strong pipeline of opportunities available to us (and often available only to us). Because of who we are, rather than what we are, we are able to offer rare access for investors to what we believe are the best early stage companies in New Zealand.”
Punakaiki Fund launched as a private fund in April of 2014 and has since raised and invested over $4 million into the companies and assess their value at $6.39 million. The company revealed:
“The businesses we invest in cover diverse industries, but they are united by their use of technology to deliver simple yet powerful solutions to end users. They are also united by the strength of their founders, their teams, their growing revenue and their long-term potential.”
Also explaining their investment approach, the Punakaiki Fund crew shared:
“We invest in privately held companies, we reinvest where appropriate and we hold our investments for the long term. Our focus is on high growth New Zealand companies in the internet, technology and design sectors, because that is where we believe New Zealand has a global competitive advantage, and it is where we have superior access to opportunities.
“Our targeted sectors provide genuine opportunity to deliver billion dollar companies, as well as to grow a host of smaller yet highly desirable firms. In our view these companies are following the footsteps of companies such as Trade Me, Xero, Wynyard, Orion Health, SLI Systems, Vend and others, and early stage founders and staff are able to draw upon wide peer support networks in New Zealand.”
During its time on equity crowdfunding platform, Punakaiki Fund secured nearly $2 million thanks to 366 investors. According to NBR, Wiggs plans to list Punakaiki on the stock exchange within the next two to four years and intends to raise additional capital once or twice a year. There will be no dividends paid for the foreseeable future.
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