close menu

Powerhouse Ventures lodges prospectus, seeks to raise up to AUD20 million in an ASX Initial Public Offering (IPO)

With six years of strong and consistent growth in New Zealand, the Board of intellectual property commercialisation firm, Powerhouse Ventures Limited (Powerhouse), has lodged a Prospectus with the Australian Securities and Investments Commission with the aim to list in September 2016.

The Company is seeking to raise up to AUD20 million which will equate to the issuance of 18,691,589 shares.

Chairman of Powerhouse, Kerry McDonald, said the Company will provide investors the opportunity to invest in a business that will identify and transform intellectual property (IP) from New Zealand and Australian universities into globally successful businesses.

Powerhouse already has a strong record of success having a portfolio of 19 early‐stage to established NZ businesses across engineering and cleantech, medical and healthcare, agritech and environment, as well as digital and ICT.

Said Mr McDonald: “Powerhouse gives investors not only the ability to diversify their investment portfolio but also invest in some of the best intellectual property New Zealand and Australian universities have to offer via a company that has a proven model of identifying intellectual property and transforming it into exciting companies with genuine international opportunity.

“We propose to enter the Australian market at a time when governments are determined to ensure university research funding generates commercial outcomes. Powerhouse intends to be a central part of this environment with its excellent university engagement model, business building expertise, capital and networks.

“We are excited about the opportunity to work with Australian universities and research institutes, to encourage innovation and the identification and development of intellectual property. Already some markets like the UK and US are well advanced in this area and have witnessed exponential growth of innovative companies emerging from these sorts of partnerships.

“Powerhouse will provide local investors with the opportunity to invest in an exciting existing portfolio of early stage growth companies and to support the expansion of Powerhouse into Australia.”

Managing Director of Powerhouse, Stephen Hampson, said the Company is distinct in its investment philosophy as well as the way it supports the companies with whom it partners.

“Powerhouse is an end‐to‐end intellectual property commercialisation Company. To this point, many retail investors have shown interest in Powerhouse because we help take companies from initial investment all the way through to mature profitable businesses ‐ we’re with those companies for the long‐term” he said.

“We are very proactive in providing guidance and support for the companies in which we invest because we know from experience that it delivers a far more effective commercialisation process.

“Powerhouse not only provides working capital but also expertise to help manage risk, structure corporate governance, guide strategy and identify and provide resources to our growing portfolio companies.

“Australia’s research institutions and universities are some of the most innovative in the world, yet it is recognised that the abundance of intellectual property has not been satisfactorily identified, secured and developed.

“This is in stark contrast to other countries such as the UK and US. Powerhouse has the capability to take advantage of these commercialisation opportunities in the Australian market, adding to its strong New Zealand presence and operations.”

The IPO prospectus is available for download at www.powerhouse-ventures.co.nz.

The offer is expected to open on 17 August 2016 and will close on 15 September 2016.