Fund profile / New Zealand

Icehouse Ventures Growth Fund III

Geography
New Zealand
Stage
Series A
Fund size
$150M
Focus
AI/ML, AgTech, Deep Tech and SaaS
Signals
Published
Share
N°01 / About

About Icehouse Ventures Growth Fund III

Icehouse Ventures Growth Fund III is a NZ$150M growth fund (NZ$40M first close) from New Zealand's most prominent venture platform. The fund backs 20-30 companies from Series A through Series D over the next decade. Generate KiwiSaver leads a group of three KiwiSaver retirement funds — the first time three different KiwiSaver managers have co-invested in a NZ venture fund. This is the key growth-stage vehicle filling the Series B+ gap in the NZ ecosystem.

N°02 / Thesis

Investment Focus

Location / RegionNew Zealand
Funding StageSeries A
Industry Focus
AI/ML
AgTech
Deep Tech
SaaS

Investor Signals Profile

active

Sweet Spot

NZ-based growth-stage deep-tech founder scaling globally Series A+

NZ-growth
Series-A-to-D
KiwiSaver-LP
ten-year-horizon
founder-education
deep-tech
space-tech
edtech
healthtech

Bullish Signals

First 3 KiwiSaver managers co-investing in NZ VCblog
$40M first close, $150M targetblog
Fills critical Series B+ gap in NZ ecosystemblog
Active founder education/mentorship via First Cut programlinkedin
Portfolio founder (Composite) backed by world-class investorslinkedin
Backing deep-tech plays like Outlier Space microgravitysocial
EY Entrepreneur awards: Crimson Education, Calocurb scaling internationallysocial
Calocurb tripled revenue, international expansion successfulsocial

Contrarian Signals

NZ-only geography limits deal flowblog
10-year horizon, very slow deploymentblog

Founder Do's

Be a NZ-based company with global ambition
Target Series A through D growth stage
Show path beyond NZ domestic market
Demonstrate strong unit economics
Fit 20-30 company concentrated portfolio
Solve your own problem as founder
Deep-tech/hard-tech welcome (see Outlier Space)
Proven ability to scale revenue 3x+ YoY

Founder Don'ts

Focus on NZ-only market opportunity
Expect quick deployment pace
Pitch pre-seed or seed stage deals

22 signals on Icehouse Ventures Growth Fund III

8 bullish · 2 contrarian · 8 pitch do's · 3 don'ts · 1 GP profile, each with its source. From €9/month, cancel anytime.

Facts

Fund Overview

Fund Size$150M
Saves0
People

Key People

Robbie Aul

Robbie AulManaging Partner
Backers

Known LPs

Generate KiwiSaverPension fund
N°04 / See also

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