NZVIF has just launched the eagerly-awaited Halo Fund.

The new $5 million angel investment fund is targeting investors in a bid to boost the capital available to seed and start up companies. Basically, the fund allows registered angels to take a passive stake in a diversified portfolio of startups that have been selected by the rest of the significant angel community in New Zealand, and SCIF (the government Seed Co-investment Fund).  Halo will contribute 50c for every dollar invested into a business by the Seed Co-investment fund to a maximum of $125,000.

It’s a brilliant concept, in that it allows people to buy a diverse portfolio of 15-30 qualified investments. Angels can put in as little as $25,000. Proceeds from liquidating investments will be distributed to investors immediately. Once the fund closes there will be no further opportunity to invest. 

 The fund will operate for 10 years and it is the result of NZVIFs desire to recruit 1000 new Angel investors.