Punakaiki Fund: 2016 Annual Report

The Punakaiki Fund 2016 Annual Report is now public. It is the first annual report presented by our full board, led by Chair Mike Bennetts, and the first to have audited accounts.

The fund’s assets grew from $1.5 million in April 2014 to $18.0 million at the end of March 2016, with the NAV/Share rising from $10 to $16.95 in the same period. We were very pleased with the results, especially given the tough end to the financial year with major valuation falls in SaaS companies internationally.

Three Recent Statistics

Since the annual report we have invested in more companies, with a total of 18 companies now and $18.4 million in assets as at the end of June. Three revealing statistics at the moment are:

  • We have now invested with over 35 founders – about 2 per company.
  • The 18 companies had combined last-quarter annualised revenues of near $65 million, and over half had run rates of over $1 million.
  • If we weight revenue by our equity holding then the quarterly revenues increased by 65% year on year.