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Opalesque Exclusive: Kiwi angel seeds hedge fund By Benedicte Gravrand, Opalesque London: Australia-based Hatfield Liptak Advisors’ October newsletter informed us that New Zealand angel investment firm Movac had taken an equity stake in a unnamed hedge fund.

An angel investor or angel (known as a business angel or informal investor in Europe), is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors organize themselves into angel groups or angel networks to share research and pool their investment capital (Source).

Opalesque found that the hedge fund in question was Crema, a US denominated hedge fund. According to Movac’s website (Source), Crema trades the US equity markets using a mostly automated trading process. Crema’s fund manager’s webpage (Martin Kay) states that Crema Capital is an equity market neutral hedge fund based in New Zealand.

Wellington-based Movac plans to invest NZ$14 million in six to seven businesses by the end of 2009 to add to its existing portfolio of nine businesses including the hedge fund and several biotech and manufacturing firms.

Movac is headed by directors, Phil McCaw......................

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