Capital raising services in New Zealand
New Zealand's VC market is small but well-organised and increasingly connected to Australian, US and Asian growth capital, with Auckland as the primary hub and Wellington strong in govtech, agritech and deeptech.
Xero's NZX/ASX dual-listing and Rocket Lab's Nasdaq listing set the global ambition bar; Halter, Tracksuit and Buildkite are among the NZ-born companies that have drawn offshore growth capital from US and Australian growth funds. The NZGCP Aspire programme is the institutional anchor in most local seed and Series A rounds.
We work with mid- to late-stage New Zealand startups raising growth capital on the best available terms, drawing on an extensive VC investor network across NZ domestic funds and Australian, US and Asian growth investors. We run the full end-to-end process: fundraise prep, pitch deck, operating and financial model, investor outreach, term sheet negotiation and closing - including Overseas Investment Act and NZ Companies Office mechanics.
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AustraliaNew Zealand29
VC rounds raised in the last 12 months in New Zealand
$26M
Median VC valuation (across all stages) in New Zealand
16x
Median VC revenue multiple (across all stages) in New Zealand
$26M
Largest VC round raised in New Zealand in the last 12 months
Raising venture capital in New Zealand
New Zealand's VC market is small but well-organised, with Auckland and Wellington as the centres. Local funds anchor seed and Series A; cross-border participation from Australian, US and Asian investors is common at growth stage.
NZ venture conventions
NZ venture rounds typically use documentation aligned with Australian and broader international venture conventions, adapted for the NZ Companies Act. The NZ Venture Capital and Private Equity Association (NZVCA) coordinates industry standards.
Convertible notes and SAFEs
Convertible notes are the most common pre-priced instrument in New Zealand. Y Combinator SAFEs are also used, particularly where US investors lead. Conversion typically at the next priced round at a discount or capped valuation.
Round structure norms
Priced rounds use 1x non-participating liquidation preference with broad-based weighted average anti-dilution. Founder vesting (4-year, 1-year cliff) is standard. NZ Limited companies require board and shareholder resolutions plus NZ Companies Office filings for share issues.
NZGCP co-investment
NZ Growth Capital Partners co-invests at seed and Series A via the Aspire programme. Its preference structures and reporting requirements are well-defined and routinely accommodated in round documents.
Overseas Investment Office review
The Overseas Investment Act regime requires consent for investments by overseas persons in significant business assets. Adds notification time and conditions to scoped transactions; less commonly triggered for venture rounds but worth checking against thresholds.
Closing mechanics
Closings are typically same-day signing and funding with documents executed via DocuSign. Share issues and changes to articles require NZ Companies Office filings shortly after close. New Zealand does not levy stamp duty on share issues.
Largest private tech companies in New Zealand
Arclaim valued at $1.0B is the largest still privately-owned company in New Zealand.
See all large tech companies in New Zealand| Logo | HQ | Description | ||||
|---|---|---|---|---|---|---|
Arclaim | | Arclaim is a multichain DeFi staking platform that aggregates liquid staking across Ethereum, Solana, and other blockchains, offering yields up to 15% APY on assets like ETH and SOL. Users stake via a non-custodial interface to receive liquid tokens for DeFi composability while earning restaked rewards. Built on Cosmos SDK, Arclaim supports auto-compounding and slashing protection, with total value locked surpassing $100 million shortly after its 2024 mainnet launch. | Dec-25 | $5.0M Series A | $1.0B |
Startups who recently raised money in New Zealand
Largest VC round raised recently in New Zealand was a $17M Series C of Hnry in December 2025.
See all VC rounds in New Zealand| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Dec-25 | Hnry | | - | Icehouse VenturesMovac | $17M | - | Series C | |
Dec-25 | Kitea Health | | Kitea Health is a medical technology company developing implantable devices for continuous pressure monitoring in cardiovascular applications. Based in France, the firm produces wireless sensors integrated into stents and grafts to track hemodynamic parameters in real time, aiding management of hypertension and aneurysms. | Bioshore VenturesIcehouse Ventures+1 | $13M | - | Seed | |
Apr-26 | Marloo | | Marloo is an AI assistant for financial advisers that automates paperwork to free time for client relationships. | Blackbird VenturesIcehouse Ventures | $10M | - | Seed | |
Nov-25 | Ruminant BioTech | | Ruminant BioTech is a New Zealand-based developer of slow-release boluses for methane mitigation in ruminants. The implantable devices deliver anti-methanogenic compounds over 120 days, reducing emissions by 30-50% in sheep and cattle trials. Partnering with AgResearch, the company commercializes biotech for pastoral farming in Australia and Europe. | AgriZeroNZCultivate Ventures+2 | $9.7M | $81M | Series A | |
Feb-26 | Hectre | | - | Cultivate VenturesNuance Capital+1 | $7.2M | - | Series A | |
Dec-25 | LawVu | | LawVu is a legal operations platform for in-house teams that connects matter management, contract lifecycle tracking, and spend oversight. The software provides visibility into legal workflows to boost productivity and align with business goals. | Insight PartnersMovac | $6.0M | $400M | Undisclosed stage | |
Feb-26 | Appetise | | Appetise is a London-based cloud platform connecting sustainable meal kit providers with consumers. The technology supports delivery services focused on eco-friendly packaging and local sourcing. Operating in the UK, Appetise facilitates subscription-based fresh meal solutions for urban markets. | Brand FundIcehouse Ventures+4 | $5.0M | - | Series A | |
Dec-25 | Arclaim | | Arclaim is a multichain DeFi staking platform that aggregates liquid staking across Ethereum, Solana, and other blockchains, offering yields up to 15% APY on assets like ETH and SOL. Users stake via a non-custodial interface to receive liquid tokens for DeFi composability while earning restaked rewards. Built on Cosmos SDK, Arclaim supports auto-compounding and slashing protection, with total value locked surpassing $100 million shortly after its 2024 mainnet launch. | - | $5.0M | - | Series A | |
Feb-26 | Wellumio | | Wellumio is a medical technology company pioneering clinical imaging advancements for urgent stroke care. Based in the United Kingdom, it combines technology, design, and medical expertise to establish new diagnostic pathways. Wellumio's solutions accelerate stroke detection and treatment timelines in hospital settings across Europe. | Private Land & PropertyCure Kids Ventures+7 | $4.4M | $26M | Seed | |
Feb-26 | Contented AI | | Contented AI is a suite of AI tools assisting businesses in creating, refining, and handling content for digital marketing efforts. | Altered CapitalExhort Ventures+5 | $4.1M | $16M | Seed | |
Mar-26 | SwapCult | | SwapCult is a crypto swap platform that emphasizes user privacy without sign-up requirements. | - | $3.0M | - | Seed | |
Feb-26 | Agovor | | Agovor is a developer of autonomous electric tractors and interchangeable attachments for precision tasks in row agriculture and horticulture, supported by a remote management portal. | Hort InnovationTenacious Ventures | $2.1M | - | Pre-seed | |
Feb-26 | OneReg | | OneReg is a software provider crafting tools for handling vital records and regulatory compliance. | Air New Zealand | - | - | Strategic investment |
Top VCs and strategic investors in New Zealand
Icehouse Ventures, Blackbird Ventures, New Zealand Growth Capital Partners and K1W1 funded the most startups in New Zealand in the last 12 months.
See all VCs in New Zealand| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Icehouse Ventures | | Icehouse Ventures is an Auckland-based venture capital firm investing in seed and early-stage New Zealand technology companies, supporting entrepreneurs through its accelerator network. | MarlooAppetiseWellumio+2 | 33 | Seed | |
New Zealand Growth Capital Partners | | New Zealand Growth Capital Partners is a Wellington-based investor supporting early-stage technology companies. Formerly New Zealand Venture Investment Fund, it provides growth capital and co-invests with private funds to stimulate innovation in software, biotech, and cleantech sectors across New Zealand. | WellumioContented AIAvasa+2 | 15 | Seed | |
K | K1W1 | | K1W1 is a New Zealand-based venture capital firm providing seed and growth funding to tech startups in Auckland and Wellington. The fund invests in SaaS, biotech, and cleantech companies like Xero alumni and Rocket Lab suppliers. K1W1 manages $100 million across stages, with exits to global acquirers. | AppetiseContented AIFactor+2 | 12 | Seed |
Blackbird Ventures | | Blackbird Ventures is a Sydney-headquartered venture capital firm investing in seed and Series A startups across Australia and New Zealand. The firm backs founders in sectors from fintech to enterprise software, with notable portfolio companies including Canva, Airwallex, and SafetyCulture. Blackbird Ventures manages over AUD 1 billion across multiple funds, achieving top-quartile returns through hands-on support in product development and scaling. Founded in 2012 by Neil Silver and Dustin McLain, it maintains offices in Sydney and Melbourne. | MarlooFactorTracksuit+2 | 10 | Seed | |
Movac | | - | LawVuHnryAvasa+2 | 10 | Seed | |
AgriZeroNZ | | AgriZeroNZ is a Wellington-based partnership between New Zealand's government and firms like Fonterra and Silver Fern Farms. Launched in 2022, it funds technologies reducing methane and nitrous oxide from dairy, sheep, and beef operations while preserving farm output. Initiatives include seaweed supplements for cows and urine patch inhibitors, trialed on 200 farms nationwide. The coalition targets 24% gross emission cuts by 2050 through shared R&D across Canterbury, Waikato, and Southland regions. | Ruminant BioTechĀmua InnovationBioLumic+2 | 6 | Seed | |
Private Land & Property | | Private Land & Property Fund provides investors with an opportunity to obtain investment exposure predominantly in a specialized portfolio of directly held, unlisted, agricultural and horticultural land and other property investments in New Zealand, which may be supplemented with investments in industrial, commercial and retail properties (including land, buildings, bearer plants1, and plant and equipment, which are together referred to as Property). | WellumioWych LimitedAvasa+1 | 5 | Seed | |
Punakaiki Fund | | - | HectreSea-Flux Vessel Management SoftwareProjectworks | 4 | Series A | |
OIF Ventures | | OIF Ventures is a Sydney-headquartered venture capital firm investing in early-stage technology startups across Australia and New Zealand. Managing AUD 100 million in assets, it backs Series Seed to Series A rounds in fintech, healthtech, and SaaS with portfolio companies like Culture Amp and Canva alumni. Founded in 2016, the firm provides hands-on support including talent recruitment and go-to-market strategies. | AppetiseStarboard Maritime IntelligenceDataMasque+2 | 4 | Seed | |
Brand Fund | | Brand Fund is an Auckland-based investment partnership between Icehouse Ventures and Previously Unavailable that targets early-stage New Zealand companies in consumer brands and technology. The fund supports startups through capital infusion and accelerator programs run by Icehouse at the University of Auckland. It focuses on high-growth ventures in food, beverage, and digital sectors, drawing on networks from both partners to foster expansion within New Zealand and internationally. | AppetiseMarlooAether+1 | 3 | Pre-seed |
What if not VC? Non-equity funding in New Zealand
New Zealand's non-dilutive funding stack is moderate by international standards but well-organised - between Callaghan Innovation, the RDTI and NZGCP, NZ startups have multiple paths to extend runway without taking VC equity.
Callaghan Innovation
Callaghan Innovation provides R&D grants, R&D loans, growth services and Technology Incubator funding. The main NZ non-tax non-dilutive R&D funding source.
R&D Tax Incentive
15% tax credit on qualifying R&D expenditure, refundable for loss-making companies subject to thresholds. Materially less generous than the Australian RDTI but still a core funding source.
NZGCP equity
NZ Growth Capital Partners provides direct equity at seed and Series A via Aspire, and anchor LP capital to NZ VC funds via Elevate. Often the institutional anchor in NZ tech rounds.
Angel networks
Angel Association New Zealand coordinates the NZ angel community across Ice Angels, AngelHQ, Enterprise Angels and others. Used as primary pre-VC capital for many structured NZ seed rounds.
Sector-specific programmes
Sector-specific NZ government programmes (NZTE for export, MBIE programmes, AgriZeroNZ for agritech) provide additional non-dilutive support. Worth checking specific sector eligibility.
Cross-border venture debt
Partners for Growth, Kreos Capital and Claret Capital Partners operate in New Zealand via Australian and APAC arms. Typically deployed against ARR or contracted revenue from Series A onwards.
Why Flow Partners as your capital raising advisor?
Kraft KPI-driven narrative
High-growth companies require thorough understanding to accurately capture their value potential. We build compelling, data-driven equity stories that resonate with investors and minimize due diligence intensity.
Move fast and cut the BS
We have a strong appreciation for the power of speed and efficiency when fundraising. Expect a rigorously efficient deal process with minimized management distraction. Founders run the business, we pick up the heavy lifting.
Access relevant investors
Our close relationships with leading late-stage VC and growth equity investors as well as non-traditional capital providers, like family offices and sovereign wealth funds, enable us to find best-fit partners for a given scenario.
Valuation is only one part of the equation
When it comes to growth capital, valuation is only one side of the medal. We help to bridge incentive gaps between founders and investors and make sure you raise money on best possible terms.
We provide capital raising services across New Zealand and beyond
Sector expertise
Explore our VC fundraising offering across a variety of tech sectors in New Zealand.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've advised companies from series A to series D and beyond.
Our capital raising experience spans across various tech sectors and geographies.
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
Recently completed VC fundraising projects
Selected capital-raising mandates and prior investment experience.
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Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.
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We're with you before and after raising VC money: we help you organise your FP&A as fractional CFOs, and coordinate your M&A process.
Fractional CFO in New Zealand
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
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We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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