The NZ$27 billion ($20.8 billion; €16.8 billion) New Zealand Superannuation Fund has made a new investment out of its ‘expansion capital’ series into biofuel company LanzaTech. The sovereign wealth fund committed $60 million in equity capital.
Founded in New Zealand, LanzaTech is now headquartered in Chicago and uses microbes to turn waste gas into ethanol and other high value fuels.
Prominent agtech investor Khosla Ventures remains the biggest shareholder and, alongside NZ Super, other New Zealand investors such as Sir Stephen Tindall’s K1W1 fund own stakes.
NZ Super has around 1 percent of its portfolio invested in expansion capital including other energy-related ventures.
“The Fund is well diversified and expansion capital’s risk/return profile is a good match for growth-oriented investors with a long time horizon,” said Nigel Gormly, head of international direct investment at NZ Super in a statement.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: