IT Capital raises $2.95 million

International firms have invested $2.95 million in Auckland-based venture capital company IT Capital (ITC).

International firms have invested $2.95 million in Auckland-based venture capital company IT Capital (ITC).

ITC placed 4.3 million shares raising proceeds of $2.95 million with Australasian firm Armstrong Jones and Springbrook Capital Partners, an affiliate of Snider Capital in the US.

Springbrook has co-invested in a number of business ventures with Snider Capital including the $20 million deal with IT Capital, announced on 21 December and approved by shareholders on January 14.

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