{
  "dataset": "New Zealand Digital Capital — Selected Programmes and Market Signals",
  "publisher": "Digital.nz Intelligence",
  "updated": "2026-08-24",
  "scope": "Selected public information relevant to New Zealand digital and technology capital. Programme scale and historical transactions do not imply current availability, investor access or endorsement.",
  "summary": {
    "tracked_capital_providers": 8,
    "tracked_public_programmes": 5,
    "selected_market_indicators": 6,
    "selected_transactions": 2
  },
  "capital_providers": [
    {
      "name": "New Zealand Growth Capital Partners",
      "provider_type": "public catalytic investor",
      "stage": "proof of concept through venture fund formation",
      "focus": "Aspire direct co-investment and Elevate fund-of-funds",
      "current_signal": "Elevate programme scale stated as NZ$400m+ after the additional Budget 2025 commitment",
      "access_note": "Aspire invests alongside matching private capital; Elevate invests through approved venture fund managers",
      "source": "https://www.nzgcp.co.nz/funding/elevate-venture-fund"
    },
    {
      "name": "Icehouse Ventures",
      "provider_type": "venture capital manager and co-investor network",
      "stage": "pre-seed through late-stage venture",
      "focus": "Kiwi-founded technology companies scaling globally",
      "current_signal": "Company states NZ$800m+ invested across 390+ companies; Growth Fund III targets NZ$150m+ and Series A–D",
      "access_note": "Fund investment is offered to qualifying investors; startup selection and fund eligibility apply",
      "source": "https://www.icehouseventures.co.nz/investors"
    },
    {
      "name": "GD1",
      "provider_type": "venture capital manager",
      "stage": "first cheque through Series B",
      "focus": "Globally ambitious New Zealand technology companies across software, industrial, energy and deep-tech themes",
      "current_signal": "Company states approximately NZ$250m AUM; Core Fund 2 is described as open to wholesale and eligible investors",
      "access_note": "Fund and direct investment access is restricted by eligibility and due diligence",
      "source": "https://gd1.vc/invest-with-us"
    },
    {
      "name": "Movac",
      "provider_type": "growth-stage venture capital manager",
      "stage": "Series A, B and C+",
      "focus": "High-growth New Zealand technology businesses with evidence of scale",
      "current_signal": "Growth Fund 7 announced a NZ$185m first close in June 2026 and a NZ$200m cap; stated initial commitments of NZ$5m–NZ$30m+",
      "access_note": "Current fund and company investment availability must be confirmed with the manager",
      "source": "https://nzprivatecapital.co.nz/movac-hits-200-million-for-its-latest-growth-fund/"
    },
    {
      "name": "Blackbird",
      "provider_type": "Australia–New Zealand venture capital manager",
      "stage": "idea stage through long-term follow-on",
      "focus": "Technology companies with globally ambitious founders",
      "current_signal": "Operates across Australia and New Zealand and describes an investment horizon from idea to beyond IPO",
      "access_note": "Portfolio fit, geography and fund mandate must be confirmed",
      "source": "https://www.blackbird.vc/about-blackbird"
    },
    {
      "name": "Pacific Channel",
      "provider_type": "deep-tech venture capital manager",
      "stage": "pre-seed through Series B",
      "focus": "Science and engineering ventures across health, food, agriculture and environment",
      "current_signal": "Fund III announced with more than NZ$50m committed in May 2025, including a NZ$10m Elevate commitment",
      "access_note": "Science, intellectual property and commercialisation fit are central",
      "source": "https://www.pacificchannel.com/stories/elevate-invests-in-pacific-channel-fund-iii"
    },
    {
      "name": "Outset Ventures",
      "provider_type": "deep-tech fund, incubator and specialist facilities",
      "stage": "formation through Series A/B opportunity capital",
      "focus": "IP-rich science, energy, advanced manufacturing, autonomy and industrial technologies",
      "current_signal": "Company states Funds I and II deployed NZ$53m into 40 early-stage companies; Momentum targets established Series A/B deep-tech companies",
      "access_note": "Momentum is presented to select institutional and family-office investors",
      "source": "https://outset.ventures/momentum"
    },
    {
      "name": "Punakaiki Fund",
      "provider_type": "evergreen venture capital investment company",
      "stage": "revenue-generating technology growth",
      "focus": "Privately held New Zealand technology companies with defensible global niches",
      "current_signal": "Fund page states a NZ$145m portfolio across 20 companies as at 30 June 2026",
      "access_note": "Current offer states a NZ$50,000 minimum and wholesale / eligible-investor requirements; terms can change",
      "source": "https://punakaikifund.co.nz/invest-now/"
    }
  ],
  "programmes": [
    {"name":"Aspire NZ Seed Fund","provider":"New Zealand Growth Capital Partners","type":"direct commercial co-investment","stage":"proof of concept, seed and early expansion","amount":null,"currency":"NZD","note":"Invests alongside matching private capital; amount is determined by portfolio construction and available funds","source":"https://www.nzgcp.co.nz/funding/aspire-seed-fund"},
    {"name":"Elevate NZ Venture Fund","provider":"New Zealand Growth Capital Partners","type":"government-funded fund of funds","stage":"venture funds focused primarily on Series A and B rounds","amount":400000000,"currency":"NZD","amount_qualifier":"programme scale stated as NZ$300m originally plus NZ$100m committed in Budget 2025; displayed as NZ$400m+","underlying_round_size":"NZ$2m–NZ$20m","source":"https://www.nzgcp.co.nz/funding/elevate-venture-fund"},
    {"name":"Research and Development Tax Incentive","provider":"New Zealand Government","type":"tax credit","rate_percent":15,"eligible_expenditure_cap":120000000,"minimum_eligible_expenditure":50000,"currency":"NZD","note":"Minimum does not apply when eligible R&D is performed by an approved research provider; eligibility rules apply","source":"https://www.mbie.govt.nz/science-and-technology/science-and-innovation/funding-information-and-opportunities/r-d-tax-incentive"},
    {"name":"New Zealand Institute for Advanced Technology — artificial intelligence research platform","provider":"Ministry of Business, Innovation and Employment","type":"public research investment","amount":70000000,"currency":"NZD","period":"up to seven years","source":"https://www.mbie.govt.nz/about/news/new-zealand-institute-for-advanced-technology-launches-major-ai-investment"},
    {"name":"Invest New Zealand","provider":"New Zealand Government","type":"foreign investment attraction and facilitation","establishment_funding":85000000,"currency":"NZD","funding_period":"four years from Budget 2025","target_investment_range":"NZ$100m–NZ$1b, plus scalable projects from NZ$20m","operating_since":"2025-07-01","sources":["https://www.beehive.govt.nz/release/invest-new-zealand-legislation-passes","https://www.beehive.govt.nz/release/investment-agency-focus-set-seek-growth-opportunity"]}
  ],
  "foreign_capital_pathways": [
    {
      "name": "Active Investor Plus — Growth category",
      "minimum_investment": 5000000,
      "currency": "NZD",
      "minimum_holding_period_years": 3,
      "acceptable_investments": ["direct investments", "approved managed funds", "eligible philanthropy up to 20%"],
      "capital_status_date": "2026-08-16",
      "pipeline_and_committed_total": 4800000000,
      "committed_capital": 2540000000,
      "note": "Official figures aggregate applications in progress, approved in principle and approved. Visa acceptability is not an endorsement or return guarantee.",
      "source": "https://www.immigration.govt.nz/about-us/news-centre/investor-category/"
    },
    {
      "name": "Active Investor Plus — Balanced category",
      "minimum_investment": 10000000,
      "currency": "NZD",
      "minimum_holding_period_years": 5,
      "acceptable_investments": ["direct investments", "approved managed funds", "listed equities", "bonds", "qualifying property development", "philanthropy"],
      "note": "A broader asset mix is allowed, subject to detailed immigration instructions and continuing eligibility.",
      "source": "https://www.immigration.govt.nz/process-to-apply/applying-for-a-visa/providing-evidence-and-documents-to-support-your-visa-application/acceptable-investments-for-investor-and-retirement-visas/acceptable-investments-for-an-active-investor-plus/"
    }
  ],
  "market_indicators": [
    {"indicator":"Total private-capital activity","value":2501000000,"currency":"NZD","period":"2025","source":"https://nzprivatecapital.co.nz/private-capital-activity-up-in-2024/"},
    {"indicator":"Venture investment activity","value":687000000,"currency":"NZD","period":"2025","comparison_2024":588000000,"ten_year_average":318000000,"source":"https://nzprivatecapital.co.nz/private-capital-activity-up-in-2024/"},
    {"indicator":"Mid-market investment activity","value":549000000,"currency":"NZD","period":"2025","transactions":50,"comparison_2024_value":519000000,"comparison_2024_transactions":27,"source":"https://nzprivatecapital.co.nz/private-capital-activity-up-in-2024/"},
    {"indicator":"Foreign direct investment stock","value":37,"unit":"percent of GDP","comparison":"OECD average 53%","source":"https://www.beehive.govt.nz/release/investment-agency-focus-set-seek-growth-opportunity"},
    {"indicator":"Elevate underlying-fund investment","value":483000000,"currency":"NZD","period":"as at March 2025","companies_backed_approximately":150,"deep_tech_share_approximately_percent":41,"source":"https://www.nzgcp.co.nz/funding/elevate-venture-fund"},
    {"indicator":"Active Investor Plus pipeline and committed capital","value":4800000000,"currency":"NZD","period":"1 April 2025 to 16 August 2026","committed_capital":2540000000,"applications_approved":434,"note":"Approximately NZ$2.28b remained in the application pipeline and NZ$2.54b was committed under approved applications","source":"https://www.immigration.govt.nz/about-us/news-centre/investor-category/"}
  ],
  "selected_transactions": [
    {"company":"Halter","transaction":"Series E","announced":"2026-03-25","amount":377000000,"currency":"NZD","valuation":3430000000,"lead_investor":"Founders Fund","note":"Company announcement; included as a market signal, not an open investment opportunity","source":"https://www.halterhq.com/en-nz/news/halter-accelerates-international-expansion-following-seriese-fundraising-round"},
    {"company":"Robotics Plus","transaction":"acquisition by Yamaha Motor","amount":null,"currency":null,"note":"Terms not publicly stated in the cited company history; company remained New Zealand-based and formed the basis of Yamaha Agriculture","source":"https://www.roboticsplus.co.nz/about/our-story"}
  ],
  "investability_tests": [
    "Instrument, stage, amount and milestone fit",
    "Verified use of funds and financing runway",
    "Ownership, intellectual property, governance and investor rights",
    "Customer economics, revenue quality and market access",
    "Technical delivery, consents, contracts and regulatory obligations",
    "Credible profitability, refinancing or liquidity pathway"
  ],
  "disclaimer": "This dataset is selective market intelligence, not financial advice, an offer, a recommendation or a solicitation to invest. Verify all figures and conduct independent legal, financial, tax and technical due diligence."
}