BIF
BIF.NZXLatest Earnings
BIF Annual Report 2026
29 June 2026
The Booster Innovation Fund (BIF) reported a strong turnaround for the year ended 31 March 2026, generating net profit after tax of NZD 1.593M compared to a loss of NZD 1.739M in the prior year, driven by NZD 1.756M in fair value gains on its portfolio of early-stage NZ technology companies. Net assets grew to NZD 24.683M from NZD 20.363M, supported by NZD 3.074M in new unit issuances and the investment portfolio expanding to NZD 24.470M across approximately 40 active holdings. The Fund added new investments and partial interests in several companies, welcomed the University of Auckland as a new investment partner via NZIB, and made no formal earnings guidance given the nature of the venture-style portfolio. Key points: Strong turnaround: NPAT of NZD 1.593M versus a loss of NZD 1.739M in FY2025, driven by NZD 1.756M in net fair value gains on the investment portfolio.; Net assets grew 21.2% to NZD 24.683M (from NZD 20.363M), reflecting both capital raises and portfolio appreciation.; Portfolio investments at fair value increased to NZD 24.470M from NZD 20.133M, with NZD 2.585M deployed in new acquisitions across multiple companies.
Recent Announcements
BIF – Quarterly Client Update – 30 June 2026
The Booster Innovation Fund reported a negative quarterly return of -4.8% for the quarter ending 30 June 2026, with a fund size of $24.8 million invested across 35+ early-stage companies; the fund made new investments including $300k in battery recycling company Linca and follow-on funding into MARS Bioimaging and Marama Labs, while portfolio companies BioOra and MACSO Technologies achieved significant commercial milestones.
BIF - Investment in Linca
Booster Innovation Fund (BIF) has invested $300,000 in Linca, a New Zealand early-stage company developing technology to recover critical minerals from waste lithium-ion batteries. Following this investment, Linca represents 1.2% of BIF's portfolio, which has over 35 active companies and a net asset value of $25.3 million.
BIF Annual Report 2026
The Booster Innovation Fund (BIF) reported a strong turnaround for the year ended 31 March 2026, generating net profit after tax of NZD 1.593M compared to a loss of NZD 1.739M in the prior year, driven by NZD 1.756M in fair value gains on its portfolio of early-stage NZ technology companies. Net assets grew to NZD 24.683M from NZD 20.363M, supported by NZD 3.074M in new unit issuances and the investment portfolio expanding to NZD 24.470M across approximately 40 active holdings. The Fund added new investments and partial interests in several companies, welcomed the University of Auckland as a new investment partner via NZIB, and made no formal earnings guidance given the nature of the venture-style portfolio. Key points: Strong turnaround: NPAT of NZD 1.593M versus a loss of NZD 1.739M in FY2025, driven by NZD 1.756M in net fair value gains on the investment portfolio.; Net assets grew 21.2% to NZD 24.683M (from NZD 20.363M), reflecting both capital raises and portfolio appreciation.; Portfolio investments at fair value increased to NZD 24.470M from NZD 20.133M, with NZD 2.585M deployed in new acquisitions across multiple companies.
BIF Amended Statement of Investment Policy and Objectives
Booster Innovation Fund (managed by Booster Investment Management Limited) has amended its Statement of Investment Policy and Objectives effective 22 May 2026 (Version 26.0). The fund invests in a diversified portfolio of early-stage New Zealand companies with IP-based origins, targeting returns that outperform the NZX 50 Index over 15-year periods through partnerships, diversification, and co-investment strategies.
BIF - Valuation Update
Booster Investment Management Limited has decreased the net asset value of the Booster Innovation Fund by $719,000 (2.8%) to $1.52 per unit, following a portfolio company's capital raise at a lower valuation than previously reflected in the Fund's holdings. The valuation adjustment takes effect in the unit price issued on 15 May 2026.
BIF - Update on Senior Managers
Booster Investment Management Limited (BIML) announced that Allan Yeo stepped down as a director of Booster Financial Services Limited effective 4 May 2026 and is no longer deemed a Senior Manager of BIML, following a December 2025 group structure change. The announcement lists the updated Board of Directors (5 members including CEO Di Papadopoulos) and Senior Managers (6 members) of BIML.
BIF - SPH Movement Notice
Booster-related entities (Booster KiwiSaker Scheme, Booster Investment Scheme, Booster SuperScheme, and Asset Custodian Nominees Ltd) disclosed a movement in their substantial holding of Booster Innovation Fund (BIF) ordinary units, with their combined holding increasing from 96.909% to 97.208% as of 1 May 2026, primarily through various unit purchases directly from the Fund between October 2025 and May 2026.
BIF – Quarterly Client Update – 31 March 2026
The Booster Innovation Fund reported positive Q1 2026 performance with a 4.9% quarterly return and 10.2% p.a. since inception, holding $25.4m across 35+ portfolio companies. The fund made follow-on investments in Wellumio (portable brain scan technology) and Scentian Bio (AI-powered biosensors), while portfolio highlights included Mars Bioimaging's FDA clearance for a photon-counting CT scanner and Nutrition from Water's partnership with a Chinese pharmaceutical company to scale production.
BIF D&O Ongoing Disclosure of Relevant Interests
Allan Seng Teng Yeo, Senior Manager of Booster Investment Management Limited, disclosed three transactions on 1 April 2026 involving Booster Innovation Fund ordinary units: an issue of 62,794 units ($97,500), an on-market purchase of 65,000 units ($100,783), and a redemption of 65,000 units ($100,926), resulting in a net increase in holdings from 2,974,069 to 3,036,862 units.
BIF - On market repurchase of units
BIF's manager, Booster Investment Management Limited, announced an on-market repurchase of up to 65,000 BIF units on the NZX on 1 April 2026 at a price not exceeding net asset value, with the units to be subsequently redeemed. This repurchase addresses net selling activity in recent months and will be executed by Booster Financial Services Limited (the manager's parent company).
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