Venture capital outlook in New Zealand

New Zealand's venture capital industry has grown rapidly in recent years from a low base. While 2001 was a grim year for the venture capital industry worldwide, as venture capitalists concentrated on shoring up existing investments with no hope of exiting in the short term through the IPO markets, the sector in New Zealand approached 2002 with some cause for optimism. Andrew Lewis and Shelley Cave of Simpson Grierson look at the opportunities in New Zealand.