• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / Capital-raise values direct platform at $40m as Pathfinder adds to private stash

Capital-raise values direct platform at $40m as Pathfinder adds to private stash

June 7, 2020

John Berry: Pathfinder CEO

Online fund distributor and share broker, Sharesies, has set a valuation of about $40 million based on its latest capital-raising round that attracted Pathfinder as a new stakeholder.

Pathfinder pitched in a total $460,000 sourced from its CareSaver KiwiSaver scheme and wholesale Ethical Trans-Tasman fund last week for just over 1 per cent of the unlisted Sharesies shares – putting an indicative value on the platform of approximately $40 million. Sharesies reportedly has about $370 million in funds on the platform and 150,000 or so users.

The Sharesies deal, understood to have raised about $5 million, saw most existing owners diluted, a few taking more stock and a handful of minor shareholder exits.

Sharesies also named one of the new equity-holders, Jonathan Macdonald, as director, replacing Lisa Stewart, who resigned last November.

As reported last week, the last few months have been kind to all direct-to-consumer investment platforms in NZ including InvestNow (which reported funds under management above $500 million) and US equities service, the Kiwi Wealth-owned Hatch.

The Auckland-based Pathfinder, half-owned by global investment firm Alvarium, also allocated $420,000 for a small stake in medicinal cannabis business, Rua Bioscience.

For Pathfinder, the Sharesies/Rua deals represent another foray into the NZ unlisted small company domain after a similar-sized investment in Wellington payroll technology firm, PaySauce, in April.

In a statement, John Berry, Pathfinder CEO, said the long-term nature of KiwiSaver lends itself to such private investments.

“It is not just about diversifying away from the listed companies in which all KiwiSaver providers invest, it is about accessing the higher return potential of exciting and high growth private companies that currently very few KiwiSaver providers invest in,” Berry said. “This is about being committed to the best outcomes for our investors and for New Zealand.”

The CareSaver scheme, targeting the ethical investment market, has reported respectable growth since launching last year with membership verging on 1,000.

 

 

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Investment News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Search by Keyword

Most Recent Investment News

Salt diversifies with another AMP Capital hire

April 14, 2021

FMA draws hard line under fund fees, softens on KiwiSaver advice costs

April 14, 2021

Passive move activates AMP NZ investment role; double exit at AMP Capital…

April 11, 2021

… as Ms Fixit comes to the rescue at AMP HQ

April 11, 2021

Lifetime deadline set for late April

April 11, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • NZ Funds directors back on board posted on April 24, 2016
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Kiwi Wealth hits the bigger time posted on November 26, 2017

Sponosored Content

Responsible goes retail: why Mint has opened the SRI tin

David-Boyle

Jumping lessons: what all investors can learn from GameStop loss

What do ‘Kiwi’ experts see for 2021?

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions