Movac Raises $185 Million for Growth Fund 7, Doubling First-Close Target
Updated
Updated · New Zealand Herald · Jun 22
Movac Raises $185 Million for Growth Fund 7, Doubling First-Close Target
1 articles · Updated · New Zealand Herald · Jun 22
Summary
$185 million has been committed to Movac’s new Growth Fund 7 in six months, marking a strong fundraising result for the New Zealand venture capital firm.
The haul is twice the fund’s first-close target, underscoring investor appetite as New Zealand’s venture capital market shows signs of revival.
Another $15 million is close to being finalized from a major New Zealand institutional investor, according to partner Mark Vivian.
That additional commitment would lift the fund to about $200 million, extending momentum in a market that has recently been rebuilding.