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.
Overview
Icehouse Ventures - New Zealand’s most active venture investor - are raising $100m to invest in 20 high-growth Kiwi technology companies, via their second flagship late-stage venture capital fund, Growth Fund II.
The team are on the final stretch of their capital raise with $70m in documented commitments, including support from Generate Kiwisaver, Simplicity Kiwisaver, Hobson Wealth, Sir Stephen Tindall and a number of other prominent investors.
The opportunity exists for investors to participate in the final close of Growth Fund II, with a minimum investment of $50k called in four equal tranches over 4 years.
About Growth Fund II
Growth Fund II will invest in mature Kiwi technology companies which have emerged from their more turbulent start-up phases, with proven commercial momentum and foundations for significant global growth.
Portfolio companies will have retired technical risks, established presence in key markets, developed their executive teams, and demonstrated their ability (and the market’s capacity) to scale to >$100m in revenue. Case studies from Icehouse Ventures’ first Growth Fund include the most compelling Kiwi tech companies of this vintage, such as Hnry, Mint Innovation, Halter, Crimson and Dawn Aerospace.
About Icehouse Ventures
Icehouse Ventures is New Zealand's largest and most active venture investment firm, with 2500+ investors, $894m+ AUM, and 322 technology companies in their portfolio.
Why Growth Fund II?
Venture capital is the world’s best performing asset class, however the majority of value is generated by only a handful of companies. As a result, when venture-scale companies emerge as potential outliers, top global investors aggressively compete for equity stakes. Local investors will often not see (let alone access) the best growth-stage opportunities.
Icehouse Ventures is uniquely advantaged here. The firm’s prolific early-stage investing across 320+ Kiwi tech companies grants them exclusive rights to participate in later investment rounds. Coupled with rich longitudinal data, relationships, and extensive experience, Icehouse Ventures is strategically better positioned to deploy a growth-stage venture fund than any other investor in New Zealand.
With the continued and certain rise and rise of the New Zealand venture ecosystem, and venture markets being at their most investor-friendly since pre-2013, Growth Fund II presents an unparalleled opportunity for investors looking to allocate capital to this interesting, aspirational and performant asset class.
Next steps
Growth Fund II is nearing its final close. A recent webinar held by Icehouse Ventures CEO, Robbie Paul, can be viewed here. If you would like to connect with the Icehouse Ventures team to learn more about the fund or how to participate, please register your interest below.
