Technology: Missteps, own-goals dog NZ Capital Growth Partners, but things are looking up.
The ghosts of its lacklustre New Zealand Venture Investment Fund past continue to haunt the relaunched NZ Growth Capital Partners.
When all of its attention should be on deals and partnerships to encourage greatly increased local venture capital investment, the organisation continues to slam the ball into the back of its own net.
NZGCP’s leadership was forced to defend a series of irregularities and failings in its accounts and governance during its annual review before Parliament’s Economic Development, Science and Innovation Committee in February.
These included inadequate documentation and approval of “sensitive” expense claims, the full pay-out of available bonuses