MBIE are now beginning industry consultation on the Venture Capital Fund (VCF) Bill, which would establish the fund-of-funds that provides $300mil of government funding towards the early-stage investment markets. Of note is the proposal for some percentage to be allocated towards international funds, and restrictions on the use of funds for particular stages (mostly Series A/B) of investment.
See the press release here: http://www.voxy.co.nz/business/5/346437
See the latest Cabinet paper here: https://treasury.govt.nz/publications/cabinet-paper/dev-19-sub-0221-venture-capital-fund-bill-policy-approval-and-approval-introduction
See the collection of documents from Treasury here: https://treasury.govt.nz/publications/information-release/venture-capital-fund