7 Oct 2013

Punikaiki Fund founder more confident of raising $5m

7:27 am on 7 October 2013

One of founders of the Punikaiki Fund says he's feeling more confident it will raise the $5 million needed to get the fund off the ground, after slashing its management fees and extending the offer.

Lance Wiggs, who will manage the high-tech and IT focussed-fund was forced to cut his fees by nearly two thirds, and extend the offer by two weeks in a bid to attract more money.

Mr Wiggs says the feedback he's received from the market since doing that has been positive.

He says they are still a long way from their goal and there are just over 300 investors, but a lot more are needed.

Mr Wiggs says he has got a list of around 20 high growth and profitable companies the fund is keen to invest in once the money is raised.