Peter Thiel Looking To Bolster New Zealand’s Budding Tech Scene

by Kyle in Featured, New Zealand, Startups, Venture Capital
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VentureBeat is reporting today that Paypal co-founder Peter Thiel has invested $12.1 million dollars into the New Zealand technology scene.

Thiel’s Valar Ventures is teaming up with the New Zealand Venture Investment Fund for a total offering of $40 million dollars. New Zealand’s Minister of Economic Development, Steven Joyce, welcomes the funding not just for the money but also the connections Thiel brings to the table.

“[This] is a very positive development for New Zealand technology companies wanting to expand into large offshore markets,” Joyce told the Wall Street Journal. “These companies require not only capital but also getting access to the right offshore networks in those markets and building their customer base.”

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Government Stranglehold On Kim DotCom Slipping

by Kyle in Featured, SOPA, Tech
Comments Off on Government Stranglehold On Kim DotCom Slipping 0 Like 1,353

When the New Zealand government assisted the United States with serving warrants on the founders of megaupload, it made explosive news. Megaupload founder Kim Dotcom (who’s last name has been changed to dotcom from Schmitz),  is a resident in New Zealand and lives on a sprawling mansion in the hillside of the country.

The New Zealand government took possession of Dotcom’s home, several cars and several million dollars that Dotcom had in bank accounts in the country.  They also held Dotcom without bail as long as they could before extradition.

Three weeks ago Dotcom was finally allowed out on bail. The government in New Zealand had set up an allowance of sorts for Dotcom and his family to live off of while awaiting an extradition hearing later this summer.

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