January 13, 2022
PR: Ngāi Tahu invests $3m in Sharesies
Wealth development platform Sharesies has issued $3 million of shares to Ngāi Tahu Holdings.
The investment by Ngāi Tahu Holdings is an extension of the $50 million NZD capital raise announced by Sharesies in late October 2021.
Ngāi Tahu Holdings had anticipated joining this funding round but decided to wait so the investment could be part of the Greenmount Mandate established in November 2021. Greenmount Capital formed an investment partnership with Ngāi Tahu Investments as an opportunity to further diversify Ngāi Tahu Holdings’ portfolio of investments.
The capital will be used primarily by Sharesies to fund further expansion in Aotearoa, Australia and offshore. This includes laying the foundation for new product releases and development.
Ngāi Tahu Holdings decided to make the investment after several months of talks with the Sharesies team. Kaihautū (Chief Executive) of Ngāi Tahu Holdings, Craig Ellison says, “Ngāi Tahu is motivated by creating intergenerational prosperity and opportunities for whānau members.”
“To build wealth and opportunities for our iwi over the long term will require continued investment into innovative, sustainable, earlier stage companies such as Sharesies. Our partnership with Greenmount now gives us a vehicle to do so.”
Sharesies co-founder and 3EO Brooke Roberts says Ngai Tahu Holdings is seen as a strategic shareholder. “The iwi’s values closely align with our own— including a focus on intergenerational wealth creation and positively impacting communities in Aotearoa.”