Street Talk understands venture capital fund Punakaiki Fund is seeking to offload its controlling stake in the NZ-born broadband connection provider
New Zealand broadband play Devoli is preparing for movement on its register as a major shareholder looks for the exit.Street Talk understands NZ venture capital fund Punakaiki Fund is seeking to offload its controlling stake in the Auckland-based broadband connection provider and has tapped Bell Potter for the sale.
Sources said Devoli is also looking to raise up to $15 million to grow the business organically and via acquisitions.
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