Performance of venture capital funds tracked | Stuff.co.nz

CATHERINE HARRIS

The venture capital industry has commissioned work to chart the level and performance of venture capital and private equity in New Zealand.

Global research house Cambridge Associates will create benchmarking and quarterly monitor data for the New Zealand Venture Capital Association.

NZVCA chief executive Colin McKinnon said credible fund-level performance data was important for institutional-quality investors and a "sign of maturity" for the industry.

"The private equity industry in New Zealand is a few years old now and has reached a level of maturity with six or eight New Zealand-based funds operating.

"In the past, they couldn't collect this data because the funds were too young."

McKinnon said previously the industry had data about the performance of individual companies which funds had invested in, but not the funds themselves.

He urged all the funds to participate by providing their quarterly performance data to Cambridge.

"We acknowledge that this project has a long timeframe but believe it is in the interests of the whole industry to provide robust benchmark performance data."

Locally based private equity funds include Maui Capital, Direct Capital, Pencarrow Private Equity, Waterman Capital, Pioneer Capital, Knox Investment Partners, plus a number of Australian funds operating in New Zealand.

- This story has been corrected

- ? Fairfax NZ News

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Source: http://www.stuff.co.nz/business/industries/6386400/Performance-of-venture-capital-funds-tracked

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