DLA Piper acts for Simplicity NZ in $100 million Investment

Published: Tue 21 May 2019 09:03 AM
DLA Piper New Zealand is pleased to have acted for Simplicity NZ Limited in its investment (with K1W1 and First NZ Capital) into Icehouse Ventures Limited. Simplicity has also agreed to invest up to $100 million over the next five years in New Zealand companies seeking growth capital.
The investment gives Simplicity, through its KiwiSaver and investment growth funds, the ability to offer exposure to retail investors for these types of investments.
Rachel Taylor (Corporate), lead partner on this deal, says:
"It was great to be part of this funding initiative - combining our investment funds and regulatory capability with corporate and investment structuring."
The intention of Icehouse Ventures is to energise the growth of New Zealand companies with global ambitions. Simplicity NZ’s partners are the investment banking firm FNZC, and K1W1 (Sir Stephen Tindall's investment company). The plan is to accelerate local entrepreneurialism.
Simplicity's Sam Stubbs comments:
"This is a fantastic opportunity - a first for KiwiSaver- to give New Zealanders the opportunity to invest in some of New Zealand's potential fast growing entrepreneurial businesses, and for more businesses to have access to New Zealand based capital."
DLA Piper is proud to be on the ground floor of an initiative with large-scale potential: carefully-placed investments by a retail fund manager in New Zealand companies with a focus on high growth.
This breakthrough collaboration is set to reshape KiwiSaver itself as a vehicle in which New Zealanders can put their faith invest in local companies. In turn, as overseas experience has shown – this has the power to galvanise economic and infrastructural transformation here at home.

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