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Source: ONE News -
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An investment fund with links to former Christchurch mayor Vicki Buck is looking to invest in so-called clean technology companies in New Zealand.
The Rutherford Innovation Fund was established in September and is now seeking money.
The fund, which takes its name from New Zealand scientist Ernest Rutherford, says clean tech is the emerging mega-trend and encompasses sectors like bio-fuels, clean water, CO2 solutions, green buildings, personal transportation, solar energy and wind power.
The principals of Milestone Capital, a private equity and investment firm, are cornerstone investors in, and managers of the fund.
Buck is a member of the advisory board.
The fund requires a $1 million initial investment from institutional investors and initial investment from others of $50,000.
The fund is trying to raise $50 million over the next two years.
Milestone Capital principal Nick Gerritsen said there were engineering, scientific and technical skills in New Zealand waiting to be commercialised.
The fund is targeting companies seeking $1m to $10m of capital.
Its investment guidelines include that there should be a minimum of five companies in the fund, a seat on the board for a Milestone representative and 70% of the portfolio must be allocated to New Zealand companies or firms with significant operations in New Zealand.
