DLA Piper New Zealand has advised Simplicity NZ on a new venture with several investment managers that is expected to give Kiwi companies a boost.
The global firm advised Simplicity in its investment into Icehouse Ventures, a new company formed with start-up accelerator The Icehouse, Sir Stephen Tindall’s investment company K1W1, and investment bank First NZ Capital. Simplicity has committed to investing up to $100m over the next five years in New Zealand companies.
“It was great to be part of this funding initiative – combining our investment funds and regulatory capability with corporate and investment structuring,” said Rachel Taylor, DLA Piper’s lead partner on the deal.
“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,” said Sam Stubbs, Simplicity managing director.
DLA Piper said that it is “proud to be on the ground floor of an initiative with large scale potential.”
“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,” the global firm said.