Icehouse Ventures Growth Fund III

New Zealand
Series A
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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.

Investment Focus

Location / RegionNew Zealand
Funding StageSeries A
Industry Focus
Ai Ml
Agritech
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

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

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)

Founder Don'ts

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

Key GPs & Partners

RA
Robbie Aul
Managing Partner
patient-capitalNZ-ecosystemgrowth-focused

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Fund Overview

Fund SizeNZD 150M
Saves0

Key People

Robbie Aul

Robbie AulManaging Partner

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