New Zealand’s Top Venture Capital Firms For Tech Startups
Over the past decade, New Zealand's startup ecosystem has undergone remarkable growth, supported by a new generation of venture capital firms backing early-stage companies. These VC firms have played a pivotal role in shaping technology companies and driving forward valuations, exits, and IPOs across both local and international capital markets.
Yet, liable information on New Zealand’s venture capital scene remains fragmented. Much of the most useful data about VC investments, fund managers, and fundraising opportunities is hidden behind paywalls or scattered across different sources. Beyond pitch decks and LinkedIn intros, finding trustworthy information on local fund managers, term sheets, SAFE Notes and funding stages remains a challenge.
This guide spotlights the top VC funds and venture capitalists backing ambitious Kiwi founders and New Zealand businesses 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 VC firm that supports startups in New Zealand and Australia from the earliest stages. Their mission is to back entrepreneurs with bold visions and provide more than just capital. Founders benefit from AirTree’s hands-on support across hiring, team design, and organisational strategy, as well as access to one of the region’s strongest founder networks. With an investment strategy focused on long-term partnerships and scaling high-potential early-stage companies, AirTree has built a strong track record across ANZ’s tech sector.
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 Australasia, actively investing in ambitious technology companies across New Zealand and Australia. With a focus on long-term support, they back founders from the pre-seed stage through to IPO, helping them scale into global businesses. Blackbird has a proven track record of identifying strong business models early and providing the funding, guidance, and community to build standout companies. Their approach blends high-conviction venture capital investment with co-investment from angel investors and a powerful alumni network.
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 (Global From Day One) is a high-conviction venture fund backing science-led New Zealand companies with global potential. Rooted in Aotearoa, GD1 focuses on sectors such as deep tech, SaaS, and healthcare, helping Kiwi founders commercialise innovation from day one. Their experienced team, made up of operators, entrepreneurs, and investors, supports portfolio companies through every stage of growth. With strong links to international capital markets, GD1 offers local startups pathways to global expansion, tailored fundraising support, and go-to-market expertise. Their global outlook extends early-stage New Zealand firms beyond local markets while keeping a distinctly Kiwi ethos.
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 is a bold early-stage investor championing kiwi founders at the pre-seed and seed funding stages. Based in Auckland, they back innovations across AI, gaming, and climate with a focus on meaningful founder relationships. Hillfarrance stands out for its founder-aligned structure, sharing 20% of fund returns with co-founders of portfolio companies. Beyond capital, they offer hands-on operational support, mentorship, and initiatives to support wellbeing, creating space for new zealand startups to build with confidence.
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 leading venture capital firms, supporting bold kiwi entrepreneurs building globally competitive tech companies. Their approach combines capital with community, offering access to experienced investors, the First Cut network for under-30 founders, and tailored support across talent, fundraising, and scaling. With an active portfolio of high-growth New Zealand businesses, including those in financial services, Icehouse Ventures helps founders navigate from early-stage to Series C and beyond, cementing their place as a key player in 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-standing venture capital firms, with over two decades of experience supporting kiwi entrepreneurs. They invest in ambitious startups solving complex challenges in global markets, particularly in deep tech, healthcare, and SaaS. Backed by deep operational expertise and a powerful international network, Movac offers more than capital: they provide hands-on support across commercialisation, scaling strategy, and talent development from seed stage through to Series C. Their portfolio spans enterprise software, deep tech, healthcare, and aerospace, and they’ve built a strong track record of guiding high-growth companies through critical inflection points. This makes Movac a standout name among New Zealand’s leading venture capital investors.
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 investment firm focused on unlocking innovation and growth capital for new zealand companies. Their model spans multiple investment funds, including a fund of funds structure and direct investments into early-stage startups. NZGCP supports high-growth ventures across sectors like clean energy, technology, and healthcare, helping companies build resilience, scale, and attract future venture capital investors. With a long-term view, they aim to amplify Aotearoa’s innovation economy through targeted venture investment.
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 specialised venture capital firm and incubator and accelerator for early-stage companies working in deep tech, including; energy, biotech, hardware, and advanced materials. Based in Auckland, they are the only firm in New Zealand with in-house labs and workshop facilities to support science-led startup companies. Outset provides capital, industry expertise, and hands-on support to accelerate commercialisation for technical founders. Their ecosystem connects ambitious teams with venture partners, advisors, and a global innovation network.
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 leading New Zealand venture capital firm investing in science-led deep tech ventures tackling large-scale global challenges. With a focus on climate, automation, and sustainable food systems, they help founders bring breakthrough innovations to market. Their team combines investment experience with scientific and engineering backgrounds, offering strategic guidance, capital raised, and operational support. They back early-stage companies through to growth-stage, building sustainable business models and partnering with like-minded capital partners to amplify impact. Pacific Channel also supports life sciences and biotech teams solving challenges in health, food, and sustainability, and maintains links with research and commercial partners in biotech hubs like Boston and New York, helping NZ ventures access global innovation pipelines.
Phase One Ventures
- Stage: Pre-Seed, Seed
- Focus: SaaS
- Notable Investments: Cotiss, Sugar Wallet, EasyRent
- Location: Auckland (NZ)
- Website: phaseone.ventures
Phase One Ventures is more than a venture capital fund - it's a collaborative hub for early-stage startups and the next generation of new zealand businesses. Designed to support founders through their earliest challenges, Phase One helps refine business models, achieve product-market fit, and unlock early traction. Their team offers mentorship, hands-on advice, and peer-led sessions through their incubator programme. They also provide early-stage funding to standout ventures and continue to back them through successive funding rounds.
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 earliest and most active venture capital firms, backing early-stage ventures with scalable business models and high-growth potential. With a strong preference for B2B SaaS and a proven track record, they provide both capital and founder-focused support. Their Socially Responsible Investment Policy excludes sectors like crypto and high-emissions industries. Alongside their investment activity, Punakaiki champions ethical funding and long-term value creation, strengthening the local startup ecosystem while helping private companies prepare for the next stage of growth.
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 an established venture capital firm investing in high-growth technology companies across New Zealand and the wider Asia-Pacific region. With multiple investment vehicles, including GD1 Seed and Fund II, Sparkbox backs ventures from pre-seed through to scale. Their portfolio spans diverse sectors such as SaaS, diagnostics, and communications, and they actively support entrepreneurs with funding, guidance, and a strategic partner network. Sparkbox plays a key role in nurturing private equity investment opportunities in New Zealand’s innovation space.
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 based in Tauranga, providing early-stage funding to science and engineering-led teams. They offer incubation grants, hands-on advice, and strategic introductions to help companies with defensible IP scale globally. Committed to New Zealand innovation, WNT helps founders assess investor fit and connects them with promising late-stage funders.
Summary
New Zealand’s startup ecosystem continues to flourish, supported by a growing mix of public and private venture capital. Whether you’re raising a first round, scaling through your growth-stage, or preparing for later-stage investment, finding the right venture partners is crucial to your success.
The world-class firms listed here represent some of the most active and trusted names in the local VC investments space. From MVP-stage and pre-seed, to later-stage funding, and from biotech to fintech, these investors support companies across every growth phase, including ambitious growth-stage startups preparing for international expansion.
Beyond VC, public research organisations and NZTE offer startup grants and support services. Other funding paths, such as crowdfunding or partnering with a venture studio, may better align with your growth strategy. Venture investment management tools like Crunchbase and PitchBook may also help founders research investors, benchmark activity, and sharpen their fundraising strategy.
Whether your sights are set on Auckland, Sydney, New York, or scaling globally to hubs like Silicon Valley, do your due diligence and align with venture capitalists who understand your vision. Many successful startup founders draw early inspiration from the journeys of both local peers and influential Australian VC firms, drawing lessons from both sides of the Tasman.
FAQs
What are the key elements of a business plan when raising capital in New Zealand?
A compelling business plan should clearly communicate your startup's unique value proposition, target market, business model, and path to profitability. Investors in New Zealand want to see that you understand your competitive landscape and can scale sustainably. It’s also important to include realistic funding requirements aligned with your startup’s stage in the lifecycle - from seed to growth-stage.<br>Adding references to globally admired success stories or investor frameworks (e.g. Accel's investment thesis or how Sequoia Capital supports founders through each stage) can help demonstrate your awareness of global venture standards. A well-developed financial model, founder-market fit, and a strategy for capital deployment are critical components for attracting local and international investors.
How should NZ tech startups prepare for VC due diligence?
Startups should come prepared with transparent financial records, a well-articulated growth strategy, and clearly defined ownership structures. Investors will assess both your current traction and your roadmap across the venture lifecycle, from early-stage milestones to exit plans.<br>Due diligence often involves understanding how your company fits within a VC firm’s portfolio strategy, including their assets under management (AUM). While total AUM can be a proxy for scale, startups should pay closer attention to the fund’s current active investment vehicle and its capacity for follow-on investment.
What’s the difference between private equity and venture capital?
Venture capital typically targets early to mid-stage startups with high growth potential. VC firms like Lightspeed, Andreessen Horowitz, or Blackbird often invest before a company has significant revenue, taking calculated risks to help them scale. Venture investors focus on innovation, speed, and scalability.<br>Private equity firms, on the other hand, generally invest in more mature companies with stable revenue, often restructuring or optimising operations for improved profitability. While both involve equity investment, their objectives, timelines, and levels of risk tolerance differ significantly.
What are the key things to consider when comparing VC firms?
Look beyond capital. Founders should evaluate each firm's stage focus, portfolio alignment, founder support model, and reputation. Check if the VC has a global network or links to international firms like Sequoia Capital or Accel, which may offer potential follow-on investment or exit opportunities.<br>Also, consider the size of their current fund and their assets under management, but only as part of a broader due diligence process. What's most relevant is whether they’re actively investing at your stage and how involved they are post-investment, from board participation to recruitment support.
How can tech startups show their potential for high returns to VCs?
Silicon Valley VCs, especially those based in Menlo Park or San Francisco—are known for their aggressive growth tactics and focus on massive, global-scale opportunities. Startups can learn from firms like Andreessen Horowitz, Lightspeed, and Accel, which often set the pace in sectors like SaaS, enterprise software, and life sciences.<br>Key takeaways include pitching with a clear TAM (Total Addressable Market), building for scale from day one, and creating narratives around category leadership. Engaging with Silicon Valley-style VCs often means adopting a faster tempo, data-backed storytelling, and thinking several funding rounds ahead in the startup lifecycle.
What can NZ tech startups learn from fundraising in Silicon Valley?
Show traction, scalability, and timing. Investors want to see you’ve validated your market, are solving a real problem, and have a model that could generate venture-scale returns. Key signals include early revenue, user growth, or interest from global investors.<br>Referencing global parallels, such as how Sequoia Capital or Accel scaled companies in your vertical, can be persuasive. You don’t need to be in San Francisco, but showing that you understand how to play at a global level makes a big difference.
