Welcome to this opportunity to express interest to invest in the Punakaiki Fund 2022 Wholesale Offer - capped at $10.5 million, and priced at $30 for a share plus attached $30 option that expires in November 2023. The options will be tradeable close to expiry date.
Punakaiki Fund Limited (“Punakaiki Fund”) is a venture capital fund making long-term private equity investments into high-growth, revenue-generating New Zealand companies. The company had audited assets of $98.2 million as at 31 March, 2022, and reported total assets of $96.0 million as at 30 June 2022.
Punakaiki Fund aims to principally invest proceeds from this offer into privately held, high-growth technology companies, both in and new to the existing portfolio. The funds will also be used to provision for net operating costs for the next year.
The offer price is discounted by 8.2% from the most recent net asset value per share, while the attached options will be valuable if the investor net asset value per share increases over the next year.
The key risks affecting your investment are covered in the Product Disclosure Statement, and include Venture Risk – being exposed to the inherent high return and high risk profile of venture investing, Investment Concentration Risk, with Devoli and Quantifi Photonics currently representing almost 40% of the value of Punakaiki Fund’s investments, and Control Risk, where the manager is unable to assert control of the activities portfolio companies.
Punakaiki Fund remains committed to its intention to list the company, but, especially considering current listed market conditions, has no immediate plans and has not retained any advisors for that purpose.
To view the Information Memorandum for this offer, click on the documents tab. To be put in contact with the issuer, click "Register Interest".