NZ Super Fund Eyes High Potential Firms
August 6, 2013
Will New Zealand-based enterprise search provider SLI Systems get an injection of capital from the New Zealand Super Fund? It could happen. Scoop reveals, “NZ Super Fund Allocates $40M to Pioneer Capital Fund.” The write-up tells us:
“The New Zealand Superannuation Fund, which invests to fund the country’s universal state pension, will place $40 million in a new $150 million venture capital fund to finance fast-growing small to medium-sized businesses with global potential.
“The funds will be placed with Auckland-based Pioneer Capital, which already holds stakes in recently listed software company SLI Systems, boutique brewer Moa beer, and health system software developer Orion Health.
“This is Pioneer Capital’s second fund, to be known as PCPII, which is seeking $150 million to invest in privately-owned, small to medium-sized New Zealand businesses which are expanding in large international markets, with average investments of between $10 million and $30 million.”
SLI Systems seems to fit the bill for Superfund largess. The company went public earlier this year, and certainly has the global market in its sights. The company supplies tools for site search, navigation, merchandising, and search engine optimization. They boast that their technology learns from the behavior of visitors over time, resulting in more relevant results. The company has offices in the U.S., the U.K., Australia, and, of course, New Zealand.
Cynthia Murrell, August 06, 2013
Sponsored by ArnoldIT.com, developer of Augmentext
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