23338 (2025). Dr Lawrence Xu-Nan to the Minister of Finance

Written Question

Published date: 06 Jun 2025

Metadata

Document type:	Written Question
Parliament number:	54
Question number:	23338 (2025)
Question asked:	15 May 2025
Member asking:	Dr Lawrence Xu-Nan
Portfolio:	Minister of Finance
Minister replying:	Hon Nicola Willis
Answer received:	02 Jun 2025
Status:	Question Answered
Reply type:	Reply
Document ID:	WQ_23338_2025
Document guid:	f0db22b8-3322-44ff-9896-e5d0463eb985

23338 (2025). Dr Lawrence Xu-Nan to the Minister of Finance: How is the Elevate venture capital fund currently funded?

Hon Nicola Willis: The original $300 million funding for Elevate was funded by redirecting $240 million of New Zealand Super Fund contributions and using a dividend payment of $13.68 million from the New Zealand Venture Investment Fund. $6.32 million was re-prioritised from other Crown funding for New Zealand Growth Capital Partners and $40.5 million was funded from the Budget 23 capital allowance.