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The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.
If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.
You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
The opportunity exists for wholesale investors to express interest in Icehouse Ventures - Growth Fund 2.
Overview
Icehouse Ventures - New Zealand’s most active venture investor - have recently launched Growth Fund 2, a late-stage venture fund that will invest in 20 of New Zealand’s leading tech companies.
Growth Fund 2 is not an early-stage venture fund, it will be deployed into companies which have achieved ‘escape velocity' and emerged as outliers from the earlier, riskier startup stages. They will have established and growing teams, well-developed products & services, evidence of competitive wins, five or more years in market, revenue & proven business models, strong governance, and the most critical feature of all: potential for significant global growth.
Background on Growth Fund 1
Icehouse Ventures’ first $110m Growth Fund (raised in 2020) demonstrated the team’s ability to identify and access the top growth stage opportunities in the NZ market. The Growth Fund 1 portfolio had, at the time of first investment, an average age of 6 years, average team-size of 63, and average revenue of $4.7m. They were collectively producing $160m in revenues, which has since grown to $250m+ over the last two years. Examples from this portfolio include:
Why is Icehouse Ventures uniquely positioned to deploy into growth stage venture?
Icehouse Ventures’ strategic advantage is their ‘early-stage leverage’. They are able to access the most highly sought after (and thus generally inaccessible) growth-stage opportunities as a result of the legal rights, reach, information asymmetry and relationships built from their prolific early-stage investing over the last decade. Their visibility and access is not replicated by any other venture investor in New Zealand.
Investor experience
Investors in Icehouse Ventures funds are not simply informed, but engaged. Icehouse Ventures achieves this through their immersive Investor Portal, annual events, deep bi-monthly fund reporting, and by providing opportunities for investors to directly co-invest in specific portfolio companies of interest.
About Icehouse Ventures
Icehouse Ventures is New Zealand's most active venture investment group, with 2300+ investors, $624m+ AUM, and 308 NZ technology companies in their portfolio.
Icehouse Ventures – Growth Fund 2 Webinar: 30th March 2023 4PM
Syndex investors are invited to attend a webinar with Robbie Paul, CEO of Icehouse Ventures. Robbie will share:
(Registration link here)
Next steps:
The minimum investment in Growth Fund 2 is NZD $50k, to be drawn over three years, offering an accessible entry level for investors who are interested in this asset class.
To be connected with a member of the Icehouse Ventures team and receive introduction materials on Growth Fund 2, please register your interest below.
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