New Zealand’s Top Venture Capital Firms For Tech Startups
New Zealand’s startup ecosystem has become one of the most dynamic in the Asia–Pacific, fuelled by a wave of venture capital firms backing early-stage companies. These VC firms are helping build globally minded technology companies, shaping valuations, exits, and IPOs across regional capital markets. For Australians, this momentum highlights how closely connected our two ecosystems have become.
Finding reliable insight into New Zealand’s venture landscape remains a challenge. Information on VC investments, fund managers, and fundraising pathways is often paywalled or scattered across sources. Beyond pitch decks and LinkedIn connections, clear guidance on local fund managers, term sheets, SAFE Notes, and funding stages can be hard to track down, a gap Australians exploring cross-Tasman opportunities need to be aware of.
This guide highlights the leading VC funds and venture capitalists supporting ambitious Kiwi founders and New Zealand businesses, offering a perspective on opportunities emerging across Aotearoa.
AirTree Ventures
- Stage: Seed, Series A, Series B
- Focus: Technology, SaaS
- Notable Investments: Canva, Linktree, Employment Hero
- Location: Sydney (Australia)
- Website: airtree.vc
AirTree Ventures is a trans-Tasman fund with an active presence in New Zealand, backing startups from the earliest stages. The firm supports entrepreneurs with practical resources for hiring, strategy, and access to founder networks that strengthen execution. By helping early-stage companies scale effectively, AirTree’s track record shows it has become a cornerstone of New Zealand’s venture ecosystem with strong links across Australasia.
Blackbird Ventures
- Stage: Pre-Seed, Seed, Series A, Series B, Growth, IPO
- Focus: Technology
- Notable Investments: Canva, Zoox, SafetyCulture
- Location: Melbourne (Australia), Sydney (Australia), Auckland (NZ)
- Website: blackbird.vc
Blackbird Ventures is one of the largest venture capital funds in the region, with a strong commitment to ambitious technology companies in New Zealand and Australia. The firm is known for long-term backing, supporting founders from their earliest ideas through to IPO scale. By cultivating a broad community of investors and portfolio founders, Blackbird provides New Zealand startups with the networks needed to grow globally while maintaining deep roots in the local ecosystem.
GD1
- Stage: Pre-Seed, Seed, Series A
- Focus: Deep Tech, SaaS, Hardware, Connected Hardware, Healthtech, Web3
- Notable Investments: Foundry Lab, Zenno, Orbica, Dawn Aerospace, Auror
- Location: Auckland (NZ)
- Website: gd1.vc
GD1 is a high-conviction investor backing science-led New Zealand companies with ambitions to scale internationally. The firm invests across deep tech, SaaS, healthtech, and hardware, combining tailored fundraising support with access to global networks. Guided by a team of seasoned entrepreneurs and operators, GD1 helps founders move from early validation to international growth while remaining rooted in New Zealand’s startup community.
Hillfarrance
- Stage: Pre-Seed, Seed
- Focus: Gaming, Software, AI & Machine Learning, Climate Change
- Notable Investments: Scannable, Partly, In Game Collectibles
- Location: Auckland (NZ)
- Website: hillfarrance.com
Hillfarrance backs kiwi founders at the pre-seed and seed funding stages, with a focus on AI, gaming, and climate innovation. Their model is founder-aligned, sharing a portion of returns with co-founders of portfolio companies. Alongside capital, they provide operational guidance, mentorship, and wellness initiatives, creating an environment where New Zealand startups can grow sustainably.
Icehouse Ventures
- Stage: Pre-Seed, Seed, Series A, Series B, Series C
- Focus: Sector Agnostic
- Notable Investments: Halter, FirstAML, Hnry, Sharesies, Caruso
- Location: Auckland (NZ)
- Website: icehouseventures.co.nz
Icehouse Ventures is one of New Zealand’s most established venture capital firms, known for supporting kiwi entrepreneurs building competitive tech companies. The firm connects founders with capital, networks, and specialised programs such as First Cut for under-30 founders. By backing a wide range of high-growth New Zealand businesses, Icehouse plays a pivotal role in strengthening the local startup ecosystem.
Movac
- Stage: Pre-Seed, Seed, Series A, Series B, Series C
- Focus: Medical Devices, SaaS, Deep Tech, Healthcare, Aerospace
- Notable Investments: Vend, TradeMe, Mint Innovation, Dawn Aerospace
- Location: Auckland, Wellington (NZ)
- Website: movac.co.nz
Movac is one of New Zealand’s longest-established venture capital firms, with over two decades of experience investing in ambitious founders. Their portfolio spans deep tech, SaaS, healthcare, and aerospace, with a strong focus on helping startups navigate commercialisation and scale. By supporting companies from early stage through to Series C, Movac has become a cornerstone of the country’s venture landscape.
NZ Growth Capital Partners
- Stage: Pre-Seed, Seed, Series A, Series B
- Focus: Technology, Healthcare, Clean Energy
- Notable Investments: LanzaTech, Narative, Kami
- Location: Auckland (NZ), Wellington (NZ)
- Website: nzgcp.co.nz
NZ Growth Capital Partners (NZGCP) is a government-backed investor focused on unlocking innovation and providing growth capital for New Zealand companies. Their structure combines direct investments with investment funds that support early-stage startups across sectors such as clean energy, healthcare, and technology. By helping ventures scale and attract future venture capital investors, NZGCP strengthens Aotearoa’s role in the regional innovation economy.
Outset Ventures
- Stage: Pre-Seed, Seed, Series A
- Focus: Deep Technology (Energy, Hardware, Biotech, Aerospace, Advanced Materials)
- Notable Investments: Open Star, Dennison Technologies, Vertus Energy
- Location: Auckland (NZ)
- Website: outset.ventures
Outset Ventures is a specialist venture capital firm and incubator, working with early-stage companies in deep tech fields including biotech, hardware, and advanced materials. Based in Auckland, they are unique in New Zealand for providing in-house labs and workshop facilities to support startup companies developing science-led products. Their support extends from capital to commercialisation, with an ecosystem that connects founders to advisors, global networks, and venture partners.
Pacific Channel
- Stage: Seed, Series A, Series B
- Focus: Climate & Sustainability, Automation, Food & Beverage, Industrial, Deep Tech
- Notable Investments: Tasmanion, Geo40, CropX
- Location: Auckland (NZ)
- Website: pacificchannel.com
Pacific Channel is a New Zealand venture capital firm focused on deep tech and science-driven ventures addressing challenges in climate, health, and food systems. Their team blends investment expertise with scientific knowledge to guide business models from research through scale. With emphasis on automation and sustainability, Pacific Channel partners with like-minded venture capital partners at home and abroad, positioning local companies to access global innovation networks.
Phase One Ventures
- Stage: Pre-Seed, Seed
- Focus: SaaS
- Notable Investments: Cotiss, Sugar Wallet, EasyRent
- Location: Auckland (NZ)
- Website: phaseone.ventures
Phase One Ventures positions itself as more than a venture capital fund, offering a collaborative hub for early-stage startups and the next wave of New Zealand businesses. Their team works with founders on refining business models, building early traction, and preparing for growth through an incubator approach. By combining mentorship, peer-led support, and initial rounds of capital, Phase One helps ventures move from concept to scale.
Punakaiki Fund
- Stage: Seed, Series A, Series B
- Focus: Technology, SaaS
- Notable Investments: Whip Around, Vend, Timely, Couchdrop
- Location: Auckland (NZ)
- Website: https://punakaikifund.co.nz/
Punakaiki Fund is one of New Zealand’s longest-running venture capital firms, backing early-stage companies with scalable business models and strong growth potential. The fund emphasises B2B SaaS while excluding sectors such as crypto through its Responsible Investment Policy. By combining ethical funding practices with long-term backing, Punakaiki strengthens the startup ecosystem and prepares private companies for expansion.
Sparkbox Venture Group
- Stage: Pre-Seed, Seed, Series A
- Focus: SaaS, Diagnostic Technology, Communication
- Notable Investments: Xero, Mish Guru, Auror
- Location: Auckland (NZ)
- Website: sparkboxventures.com
Sparkbox Venture Group is a seasoned venture capital firm investing in high-growth technology companies across New Zealand and the wider Asia–Pacific. Their multiple funds support ventures from pre-seed onwards, with a portfolio covering SaaS, diagnostics, and communications. With guidance, active support for entrepreneurs, and links to private equity investors, Sparkbox continues to nurture innovation within New Zealand’s ecosystem.
WNT Ventures
- Stage: Seed, Series A
- Focus: AgriTech, Artificial Intelligence, Automation, Engineering, Sustainability
- Notable Investments: Mastaplex, CarbonCrop, FoundryLab, Mint Innovation
- Location: Tauranga (NZ)
- Website: wntventures.co.nz
WNT Ventures is a deep-tech-focused investment fund in Tauranga, supporting science-led startups with early-stage capital and expertise. Their model includes incubation grants, strategic guidance, and introductions to follow-on investors who can back companies with global ambitions. By investing in defensible IP and fostering New Zealand innovation, WNT helps founders prepare for scaling opportunities both locally and abroad.
Summary
New Zealand’s startup ecosystem continues to expand, driven by both private and public sources of venture capital. Whether raising your first round, moving through growth, or planning capital raising for later stages, securing the right venture partners is essential.
The firms profiled here represent some of the most established names in local VC, covering the full spectrum from MVP-stage and pre-seed to later rounds. Their activity spans biotech, fintech, and high-growth startups preparing to scale internationally.
Alongside VC, public programmes and organisations such as NZTE provide additional support, including startup grants and connections with a venture studio where appropriate. For Australian readers, we also recommend our guide to Australian startup grants and our overview of leading Australian VC firms, which complement the cross-Tasman insights in this article.
For founders, the most valuable lessons come from peers who have scaled internationally, showing how ventures from Auckland, Christchurch and beyond can stand up to the best in Silicon Valley.
FAQs
What are the key elements of a business plan when raising capital in New Zealand?
A strong business plan needs to clearly set out your startup’s value proposition, target market, business model, and path to profitability. Investors in New Zealand look for evidence that you understand your market dynamics and can build sustainably. Clearly outlined funding requirements matched to your startup’s stage, from seed through growth, are essential.<br>Credibility can also come from referencing proven frameworks or case studies. For example, showing how founders in other markets structured early rounds or scaled efficiently demonstrates awareness of global standards. A solid financial model, founder–market fit, and an effective deployment plan for capital will help attract both local and international investors.
How should NZ tech startups prepare for VC due diligence?
Startups need to arrive prepared with transparent financial data, a clear growth strategy, and well-documented ownership structures. Investors will test not only your current traction but also how your roadmap aligns with early-stage milestones through to later exits.<br>Due diligence also examines how your business fits within a VC’s broader portfolio. That may involve assessing sector overlap, fund strategy, or available reserves for follow-on rounds. While metrics like AUM (assets under management) indicate scale, what matters most is the fund’s ability to keep backing companies as they grow. For founders, understanding this alignment can be just as important as meeting profitability targets.
What’s the difference between private equity and venture capital?
Venture capital generally targets the next generation of high-potential startups, providing funding in the earlier stages of growth. VC firms often specialise in sectors with strong expansion potential, focusing on speed, innovation, and scalability. Well-known firms such as Blackbird or Lightspeed typically step in before a company reaches significant revenue, backing founders who are aiming for global impact.<br>Private equity firms, by contrast, invest later in private companies that already generate stable income. Their approach usually centres on restructuring, efficiency improvements, or acquisitions that can optimise operations and returns. While both involve equity investment, their timelines, levels of involvement, and appetite for risk are quite different.
What are the key things to consider when comparing VC firms?
Founders should look beyond headline figures and assess how a VC’s stage focus, portfolio alignment, and support model fit their own strategy. A strong fund of funds structure, or links into global partners, can create additional channels for capital and expertise. The presence of a global network also matters, especially when a world-class co-investor or exit partner might open doors for international expansion.<br>It is also worth reviewing the size of a current fund and how engaged the VC is after the cheque is written. The most useful signals include whether they remain active post-investment, the quality of board participation, and the depth of connections they offer into talent and follow-on investors. This broader perspective can reveal if a VC is the right long-term partner.
How can tech startups show their potential for high returns to VCs?
To stand out, startups should present clear evidence that growth can be achieved at scale. That means demonstrating strong customer demand, a compelling business model, and unit economics that improve as the company expands. Investors are also looking for indicators that the founding team has the skills and vision to sustain momentum.<br>In practice, this often includes highlighting early traction such as paying customers, user adoption rates, or successful pilot projects. Pairing these results with a large, well-defined addressable market shows how the company could generate the kinds of returns that make sense for a VC portfolio.
What can NZ tech startups learn from fundraising in Silicon Valley?
Valley-based VCs are known for their aggressive approach to scaling, with fast cycles and global-first thinking. For NZ startups, the lesson is to show validated traction, scalability, and a credible path to venture-scale outcomes. Key signals include early revenue, strong user growth, or interest from global investors.<br>Drawing on international parallels can also be persuasive. Referencing how firms like Sequoia or Accel guided similar companies demonstrates awareness of global standards. You do not need to be based in San Francisco to benefit from this thinking. Showing that you understand how to operate at a global level can set your fundraising strategy apart.
