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Guardians of NZ Superannuation appointments


Guardians of NZ Superannuation appointments
Paula Steed has been appointed as GM finance and investment operations and Mark Fennell has been appointed as GM risk.
Wed, 07 Apr 2021
Paula Steed
The Guardians of New Zealand Superannuation, the Crown entity that manages the $55 billion NZ Super Fund and oversees the Elevate NZ Venture Fund, has made two key appointments.
Paula Steed has been appointed as general manager finance and investment operations. In this role, Steed will have responsibility for the Guardians’ finance, tax, internal audit and investment operations teams.
Currently ASB Bank chief internal auditor, Steed has previously worked as chief financial officer at UDC Finance and as division financial controller at ANZ. She has also held senior finance roles at AMP and Deloitte.  Steed has a BCA in accounting and commercial law from Victoria University of Wellington. ....

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Dellabarca quits NZ Growth Capital Partners for 'personal reasons'


A spokesperson confirmed Richard Dellabarca had left the Crown-owned fund manager.
New Zealand Growth Capital Partners chief executive Richard Dellabarca has stepped down from his role at the government-owned venture fund manager.
A spokesperson for the company, formerly known as the New Zealand Venture Investment Fund, confirmed Dellabarca had resigned after more than four years in the role.
Dellabarca and chairman Murray Gribben couldn’t be reached for comment.
NZGCP manages the Aspire NZ Seed Fund and the Elevate NZ Venture Fund.
Elevate was launched in March this year with a $300 million pot and an aim to address a gap in series A and B funding for early-stage, high-growth New Zealand startups. ....

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Bullying, gender discrimination at Government venture capital fund


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. ....

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