KiwiSaver and investment fund manager Simplicity has announced a $30 million investment commitment to a new Kiwi deep tech and health sciences fund from Bridgewest Ventures.
Simplicity, which has over 190,000 members and more than $11 billion in funds under management, has a small portfolio of private market investments.
The company has previously invested in Kiwi success stories such as Substack, Halter and Tracksuit through its venture capital strategy.
The fund, which is focused on commercialising innovation in biotech, has already invested in 13 local companies, including Masco, BioOra and Zealafoam.
This investment brings the total investor commitments for Bridgewest Ventures’ Deep Tech and Health Sciences Fund to $62.7m, with a target fund size of $100m.
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