Venture capital fund Iramoe rings the bell as IPO opens today
Summary
Mat Iramoes initial public offering, which went live today on Catalist, offers retail investors a unique opportunity to buy into the rapidly growing deep tech sector.With deep tech accounting for 25% of start-up investments last year according to a PWC report, Mat Group is helping Aotearoa New Zealands deep tech sector realise its potential with world-leading research and innovation.Ken Erskine, a Mat Iramoe Director, says shares in Mat Iramoe not only provide a diversified investment opportunity in its 12 underlying portfolio companies, but they also enable Kiwi research and innovation to create significant opportunities and impact around the world.Within three years, Mat has grown a strong investment portfolio of 12 companies, reflecting the diversity of the science and deep tech innovation within Aotearoa New Zealand, Erskine says.The companies are addressing some of societys biggest issues, from the detection and treatment of chronic diseases and improving surgical outcomes, to testing for pathogens attacking Aotearoa New Zealands ecosystem.When Mat was founded we set a goal to see Kiwi science and technology be acknowledged at home and overseas as a leading investment class in its own right. Were proud of the phenomenal progress made to date, Erskine says.Our portfolio has delivered an unrealised return on deployed capital of over 60% and prospects for further appreciation in existing and new investments remains strong.In a short timeframe Mats portfolio companies have already filed 44 patents, created over 110 new jobs, secured over NZD$12 million in non-dilutive grants, and raised NZD$82 million in new investment capital. The new capital will accelerate the development of Mekonos system on a chip, expand commercial partnerships and support talent acquisition. PowerON successfully closed a $3.1 million oversubscribed capital raise to further their mission of bringing soft robotics to the world. Mat Iramoe is an entity of the Mat Group that will function as an investment vehicle, primarily raising capital by way of issues of ordinary shares to invest in a diverse portfolio of science and deep-tech start-up companies.About Catalist: Catalist is New Zealands only licensed stock exchange designed for small and medium-sized businesses.