Snowball Effect has stated that successfully funded Punakaiki Fund’s offer has been extended. Originally the equity raise had set a low bar minimum target of $200,000 NZD. Recently the offer neared $2 million NZD but today Snowball communicated that retail investors sill had time to participate as the offer would remain open until Friday at 6PM.
Given that a number of investments were from “wholesale” investors, those investors are able to participate in a parallel offer that is made exclusively to wholesale investors and is not subject to the $2m cap. This leaves more room for retail investors to participate in the Snowball Effect offer.
Punakaiki Fund is a pooled investment operation that seeks high growth companies in New Zealand in which to invest. The fund was first launched in 2014. Punakaiki has raised over $4 million NZD and invested in 10 different companies now valued at approximately $6.4 million. Year on year growth for these companies was stated at 86%. Punaikaiki is an opportunity for a smaller investor to gain exposure in early-stage while maintaining a diversified portfolio.
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