Punakaiki Fund – new offer for exempt investors

We’ve just launched a new wholesale offer to investors for Punakaiki Fund. It’s available only to Exempt investors, as we hit the legal limit of $2 million for crowd-funding investors back in June.

There are two ways to invest. The easiest for new investors is through Snowball Effect’s wholesale platform, or you can download the Information Memorandum and the Application Form and apply directly.

Progress

After the June crowd-funding and private offers we made eight new investments, placing five as follow-on investments with existing Punakaiki Fund companies and the other three with Vend, EverEdgeIP and Mobi2Go. We still have a couple more to announce.

We’ve also welcomed a big step up in governance, with the shareholders appointing Mike Bennetts (CEO Z Energy), Bryan Hutchins (Real Journeys) and John Berry (Pathfinder Asset Management) as directors. All are shareholders themselves. The directors (including myself) later appointed Mike Bennetts as Chair of Punakaiki Fund.

We are delighted with the progress that the companies we have invested into are making. The thirteen companies we have invested into  collectively had over $40 million in annualised revenue in September 2015, growing in aggregate by over 94% from September 2014.  Ten of those companies have over $500,000 in annualised revenue, with seven over $1 million and three over $6 million. All but one employ more than five people.

Our shareholders are seeing the benefit of that underlying revenue growth with their unrealised returns. Based on the share price in this December 2015 Offer the original investors from April 2014 who exercised their options are seeing a 49.5% annualised return (IRR), while our December 2014 investors who exercised their option are seeing a 43% return. Like that offer in 2014 this Offer is for a Share + Option, priced at $16.50. We’ve used the share component of that, or $16.17, to calculate these returns. That $16.17 is well up on the $14.50 per share price we saw at the June Snowball Effect Offer.

Read the documents

This is an investment to Exempt Investors, who will be well used to the advice to read the documents and see advice. Here again is the Offer on Snowball Effect’s wholesale platform (much easier), or download the Information Memorandum and the Application Form from us.

 

About Lance Wiggs

@lancewiggs
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