Through a partnership with Trans Tasman Commercialisation Fund (TTCF), the New Zealand Venture Investment Fund (NZVIF) is committing $4m to invest into new technologies emerging out of Auckland University.
The Trans Tasman Commercialisation Fund is an AU$30m investment vehicle established last year to commercialise research at Auckland University and other four Australian universities.
The partnership will target commercial opportunities emerging from UniServices – Auckland University’s commercialisation agency.
NZVIF and TTCF have already invested into two drug development companies, Pathway Therapeutics and Saratan Therapeutics, which spun out from UniServices.
NZVIF participates in the partnership through its Seed Co-Investment Fund, which aims to invest $40m into early stage companies with strong potential for high growth.
This agreement marks the eleventh partnership NZVIF has entered into through the above mentioned Fund. Along with angel groups, it has to date co-invested over $33m into 30 companies.