A technology investment company will be the first listing on Catalist - the recently established capital market for small and medium-sized businesses.
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The deep-tech venture capital fund managed by Matū Group was looking to raise up to $1 million from retail investors in an initial public offer (IPO).
The Matū Iramoe fund has already raised $6 million from wholesale investors over the past three years, which has been used to build a portfolio of 12 companies in the bio-tech, agri-tech, robotics, and med-tech sectors, including Mekonos, Alimetry, PowerON and Ligar.
Matū Group director Ken Erskine said there was growing investor interest in deep-tech start-up companies, which he described as ground-breaking science-based, tech ventures, backed by defendable intellectual property.
"It is a sector that is experiencing rapid global and domestic growth and offers rewarding long-term investment opportunities."
"The deep-tech sector offers potentially life changing scientific technologies, but has traditionally lacked the necessary investment," he said.
Erskine said the listing would enable Matū to balance the long-term capital appreciation, while giving retail investors an opportunity to exit early.
Catalist chief executive Colin Magee said the listing was also an opportunity for retail investors to support deep tech enterprises.
"By listing on the Catalist Public Market, Matū Iramoe is committing to provide regular, comprehensive information updates to investors, and give investors regular opportunities to trade their investment in periodic auctions, which is a first for venture capital investments in New Zealand," Magee said.
Erskine said the fund hopes to raise an initial million dollars, with another million early next year, with plans to grow big enough to move to the NZX Main Board.