Punakaiki Fund Limited (PFL) is delighted to announce the impending acquisition of Quantifi Photonics by Teradyne Inc (Nasdaq: TER), marking PFL’s fourth and largest major exit in four years. With an economic interest of 13%, Punakaiki Fund is the largest local investor in Quantifi Photonics, second overall behind US-based Intel Capital.
The acquisition is significant for New Zealand’s technology ecosystem. Lance Wiggs of Punakaiki Fund, and former Quantifi Photonics director, says:
“We are absolutely delighted with this result, which rewards the efforts of co-founders Andy Stevens and current CEO Iannick Monfils, and many others. It’s a great result for Punakaiki Fund, as the largest local shareholder, and a fantastic result for New Zealand’s technology investors, with over half of the shares owned by New Zealand based funds”
Impact on Punakaiki Fund
With rising Net Asset Value per share, recycling of capital into new investments and now capital distributions, PFL is delivering on its unique evergreen model.
Strong Returns for PFL
While the transaction price remains confidential, PFL anticipates strong returns from our original investment of over $7.5 million. The majority of these gains have already been reflected in PFL’s recent Net Asset Value reporting, with an updated result to be shown on the March 2025 NAV report, along with impacts from other company revaluations.
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Tuesday, 11 March 2025, 3:26 pm
Press Release: Punakaiki Fund