Attractive Investment

“A little bit of PayPal founder Peter Thiel’s wealth will help New Zealand technology businesses thanks to the launch of a new venture capital project,” Lucy Craymer writes for the Wall Street Journal. The US entrepreneur, who was one of Facebook’s first investors, is to establish a new $40 million New Zealand-focused venture capital fund jointly with the New Zealand Venture Investment Fund (NZVIF) to support local technology developments. NZVIF chief executive Franceska Banga said the fund would bring “deep experience” and significant networks, as well as new capital. Thiel said New Zealand was an attractive investment proposition. “Over the last several years, New Zealand has been nurturing more early-stage tech companies,” he said.