The trend for KiwiSaver managers to move into private equity investment in search of higher returns continues.
Pathfinder has taken part in a $1.5 million capital raise by innovative early-stage Kiwi company Wool+Aid, which produces plasters made from wool.
Pathfinder chief executive John Berry says investments like this are about more than just making good money. “We believe a large number of Kiwis want KiwiSaver investments at the intersection of what’s good for the planet as well as what makes good financial returns.”
The Wool+Aid investment adds to its existing unique and impactful KiwiSaver investments including Sir John Kirwan’s technology driven mental health app (Mentemia), large scale solar in New Zealand (Lodestone), community housing projects (Community Finance), microfinance for women in South-East Asia (Women’s Livelihood Bond) and the tech-based democratisation of investing (Sharesies).
Wool+Aid is the brainchild of young Kiwi entrepreneur Lucas Smith after five years of development. The biodegradable merino wool bandages and sticking plasters are unique and have potential to disrupt what is currently a plastic-derived consumer product. The capital provides funding to expand product distribution.
“We want to back talented people, innovative ideas and Kiwi businesses with purpose. Wool+Aid ticks all these boxes,” Berry says.
Pathfinder Head of Investment Paul Brownsey, says “our $200,000 investment is only a small part of Pathfinder’s funds, which reflects both the higher risk – and huge potential upside – of early-stage investing. The Wool+Aid product is unique and a potential game changer in its category. It is a sustainable product in a multi-billion dollar global market, which is definitely worth investing in.”
To lead Wool+Aid in its expansion phase, the business has recently hired Louise Cunningham as chief executive. She was formerly chief marketing and customer officer at My Food Bag.
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