12 Mar 2009

New private equity fund hopes to raise $150 million

7:33 am on 12 March 2009

A new private equity fund is confident it can raise up to $150 million to invest in growing New Zealand companies.

Venture capital firm Endeavour Capital says the fund hopes to attract between $100 - $150 million, to invest in early expansion companies, especially those involved in research and development.

Chairman Neville Jordan says he's optimistic the money can be raised, despite the tough economic times.

The Government's New Zealand Venture Investment Fund plans to invest up to $20 million.