Nga¯i Tahu invests $3m in Sharesies

Online investment platform Sharesies has announced a $3 million investment from Nga¯i Tahu Holdings in an extension of its $50m capital raise announced in October. Sharesies said the South Island iwi had planned to join the initial funding round but waited so the investment could be made by its newly established manager, GreenMount Capital. Greenmount is the new fund management arm of another Nga¯i Tahu investment called GreenMount Advisory. Kaihautu (chief executive) of Nga¯i Tahu Holdings Craig Ellison said the investment came after several months of talks with the retail investment company. ‘‘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,’’ he said.