BIF adds Wellumio to its investment portfolio
13 February 2024
Booster Innovation Fund adds Wellumio to its investment portfolio.
Booster is pleased to announce the addition of Wellumio Limited to the Booster Innovation Fund (BIF) portfolio, which is held through NZ Innovation Booster LP – an underlying fund that was established as a joint venture between the Booster group, Wellington UniVentures and Otago Innovation Limited.
Wellumio operates in the medical technology sector and is developing a unique portable magnetic resonance imaging (MRI) device, with a specific focus on enhancing the ability to diagnose strokes as quickly and efficiently as possible. Wellumio was formed in 2019, and is classified as a seed stage business, with its technology origins being from Otago University and Victoria University of Wellington.
BIF will make a cash investment of $300,000. Following this transaction, Wellumio will represent 1.5% of BIF’s investment portfolio which supports over 30 companies, and with a net asset value of over $19.4 million.
Investors can continue to purchase units in BIF on the NZX or can subscribe for units in the fund as part of the process described in the fund’s Product Disclosure Statement (PDS) that is available at www.booster.co.nz
For further information regarding BIF visit https://www.booster.co.nz/booster-investments/booster-innovation-fund.aspx
For more information, please contact:
Gary Scott
Company Secretary
Booster Investment Management Limited
04 8944300
About Booster
Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of the Booster Group which has been helping New Zealanders save since 1998. The group currently administers superannuation and investment funds of over $6 billion on behalf of more than 190,000 New Zealanders.
BIF is a managed investment fund that invests in early-stage companies founded on intellectual property originated or developed in New Zealand.
For more information, including a copy of the Product Disclosure Statement, please visit www.booster.co.nz
Announcement PDF
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