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NZX track record called ‘patchy’ Serge van Dam, a founder who cashed out a decade ago and now supports local SaaS companies via investment and mentoring activities, describes the NZX as having “a patchy track record of the kind of companies it listed in the tech sector”. He also doesn’t see the NZX as being actively involved in trying to understand the local ecosystem. “If you are a serious stock exchange, what you want to do is create a pipeline of companies and support them to get them to the point where they are listable. Not wait until they are listable and say, ‘Hey, do you want to list over here?’,” he says.

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