Review of Government-backed fund finds bullying, widespread perception of gender bias
2 Apr, 2021 04:00 AM
4 minutes to read
Former employment court judge Graeme Colgan s report described instances of bullying and perceptions of a male dominated culture at the fund. Photo / supplied.
Former employment court judge Graeme Colgan s report described instances of bullying and perceptions of a male dominated culture at the fund. Photo / supplied. A report into workplace culture at a government-backed venture capital fund found some staff were so unhappy they quit without new jobs to go to and even lied about why they were leaving to avoid retribution.
On Thursday New Zealand Growth Capital Partners (NZGCP), which invests hundreds of millions of dollars into early-stage companies, released a report by former Employment Court judge Graeme Colgan.
Culture review finds inappropriate conduct and ‘perception of gender bias’ at NZGCP.
A review of culture at the government’s venture capital agency has found instances of “low-level bullying”, gender discrimination, and “disrespectful and inappropriate workplace conduct”, the agency has said in a statement.
Following its statement, New Zealand Growth Capital Partners (NZGCP) later released the review by former Employment Court judge Graeme Colgan to
NBR under the Official Information Act.
NZGCP launched the inquiry into bullying days after the surprise departure of its chief executive, Richard Dellabarca, in August.
It followed “several complaints of unacceptable behaviours towards staff including what is described as bullying, harassment, disrespectful communications, discrimination and the like”, Colgan
Some workers resigned due to the workplace culture at NZ Growth Capital Partners. (File photo).
A review into a Government venture capital fund which invests hundreds of millions of dollars of taxpayer money found instances of low-level bullying, perceptions of an underlying culture of gender discrimination, and of disrespectful and inappropriate workplace culture. The summary of the review by former Employment Court Judge Graeme Colgan into New Zealand Growth Capital Partners was released on Thursday. NZ Growth Capital Partners invests in early-stage high-growth tech companies, and replaced the New Zealand Venture Investment fund which the Government set up in 2002. It manages the Aspire NZ Seed Fund and the $300 million Elevate NZ Venture Fund, and its performance is overseen and monitored by the Guardians of the New Zealand Superannuation Fund.