Two more top investment funds have fallen in behind Lightning Lab, New Zealand's first startup accelerator, which will host its first batch of tech ventures in early 2013 (see the latest issue of Idealog for the full feature story).
Sir Stephen Tindall’s K1W1 investment fund (which has backed a number of Kiwi tech startups, including star performers such as LanzaTech) and specialist high-growth startup fund Sparkbox are the latest investors into Lightning Lab. The digital accelerator also has backing from the Ministry of Business, Innovation and Employment.
Says Tindall: “The format and goals of Lightning Lab fits with our outlook on growing amazing companies. It is a private investment model and is driven through a fantastic group of mentors; this is the sort of influence and support startups need around them to create globally successful companies."
Sparkbox principal Greg Sitters says aligning with Lightning Lab is a prime opportunity to match investment to the best startup teams in New Zealand at the earliest stage possible.
“There are pitfalls galore for these early stage companies, and our goal is to do our part in making more of them into global successes originating from New Zealand."
K1W1 and Sparkbox sit alongside Lightning Lab's founding investor lineup, consisting of Wellington-based angel investors Dave Moskovitz and Stephan Korn of Webfund, Phil McCaw, Trevor Dickinson, Marcel van den Assum and Evander Management.