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:

• Halter - a farm management platform, revolutionising farm management and efficiency through Halter’s ‘smart-collars’.
• Hnry - a tax platform for sole-traders. Hnry are now responsible for over 1% of NZ’s total tax-take and are growing in international markets.
• Dawn Aerospace - a green satellite propulsion system which is now powering dozens of satellites. Aside from propulsion, Dawn are looking to disrupt space cargo delivery with their rocket powered space plane, the MK-II Aurora.
• Mint Innovation - a waste to value deep-tech company extracting precious metals from e-waste via proprietarybiological processes. Mint recently completed construction of their Sydney bio-refinery with capacity to serve AU, and closed a $60m Series C to scale into UK.

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:

• Insights from the last decade as NZ’s most active venture investor
• Market commentary + some predictions on what venture investors may expect over the coming years
• An overview of Growth Fund 2, and a review on IV’s $110m Growth Fund

(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.