The New Zealand Private Equity and Venture Capital Association (NZVCA) is in support of the New Zealand government’s announcement of a review of the Overseas Investment Act.Colin McKinnon, executive director of NZVCA, says that the current rules have jeopardised transactions that could not afford to wait for protracted and complex processes, leaving local and international investors frustrated.
“Access to capital is important for New Zealand enterprises. We need legislation and supporting processes that encourage investors whether they are local or international,” says Colin McKinnon. “We share the government’s view that access to foreign capital is important for New Zealand firms.”
The NZVCA also believes that access to domestic capital is crucial and hopes the government will turn its attention to capital barriers in the domestic market.
The NZVCA is a privately funded non-profit organisation representing private capital investors and their advisors. The NZVCA aims to develop a world-class venture capital and private equity environment for the benefit of investors and entrepreneurs in New Zealand.
D.C.