WebFund Attracts Investment

Media Release

WebFund Attracts Investment
26 March 2008

A trust associated with veteran Internet entrepreneur Dave Moskovitz has
purchased 26 percent of WebFund Limited for an undisclosed sum. Moskovitz
will take on the role of Chairman of the Board.

WebFund provides software and business development consulting to NZ-based
startups in exchange for equity.

Managing Director Stefan Korn said that the capital injection would be used
to support further investment in New Zealand startups. "Dave's vision,
experience and resources are totally aligned with and complimentary to our
existing skills", Korn said.  Moskovitz added, "I'm excited by WebFund's
strategy to build up web-centric innovators with disruptive business
models.  WebFund can provide the missing link for NZ businesses to lift-off
to international success."

The launch this month of WebFund's most recent investment, Bookhabit.com,
generated considerable international interest.  Bookhabit provides a vehicle
for emerging authors to publish their books online. Webfund has also
invested in DIYFather.com, the online Father's Guide to Parenting, and Admin
Innovations Limited which provides Software-as-a-Service solutions for small
businesses.  

New Zealand based clients of WebFund include climate change site celsias.com
and advertising gaming site mintshot.co.nz.

ends

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