Icehouse Fund Update
Those of you who are subscribers to my Opportunities newsletters will have recently received an update on the very successful Technology Fund being offered by Icehouse.
Those of you who are subscribers to my Opportunities newsletters will have recently received an update on the very successful Technology Fund being offered by Icehouse.
I’ve just received an email from CEO Robbie Paul, advising they now have
over $25 million committed to their Seed Fund III from 230 investors. A
large number of additional investors have expressed interest. So they
are well on track towards a final close at $30 million.
The Fund has already invested in a “stealth” tech company working in the
sustainable energy sector, and are in the process of leading the seed
round of Christchurch-based Zincovery.
This business is producing the world’s first low carbon recycled zinc;
the fourth most used metal and an essential resource in renewable
energy, vehicles, and infrastructure.
Seed Fund III makes capital calls over four years and invests it over
five years into companies with decade-long missions. These companies are
solving major problems in durable and long-term markets. The ability
for investors to spread their investment makes it additionally
attractive.
The Fund is targeting companies with:
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Fully subscribed capital raises.
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Clear milestones that can be achieved well within cash availability.
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Support from other investors with deep pockets.
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Valuations that offer potential uplifts in the next round.
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Long-term prospects not materially impacted by current macro-conditions.
Icehouse remains well-capitalised. Including the $20 million first close
of Seed Fund III, they have nearly $100 million available to invest in
target companies over the next three to four years. This cash position
is such that were deteriorating market conditions lead to a diminished
supply of venture capital, they would find themselves in an advantageous
position.
For Investors
Having invested in nearly 300 start-ups over 20 years, Icehouse’s Seed
Fund III is in a prime position to build upon their momentum and
experience; whatever changes might occur the economy here. So for
investors it provides an excellent spread of participation in companies
and industries.
For further information about the Fund simply reply to this email or call me on 021 902 901.
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The above investment is not an offer of financial products that
requires disclosure under the Financial Markets Conduct Act 2013 (Act)
and is available only to wholesale investors as defined by that Act. It
is intended for distribution only to selected people to whom, under the
relevant laws, it can be lawfully distributed. It cannot be distributed
in any other jurisdiction, or to any other people. It is not an offer or
solicitations in any jurisdiction in which such offers or solicitations
are not authorised, or in which the person making such offers or
solicitations are not qualified to do so, or to any person to whom it is
unlawful to make such offers or solicitations. Any representation to
the contrary would be unlawful. No action has been taken by any person
that would permit a public offering in any jurisdiction where action for
that purpose would be required.
Cheers
John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz
For more information, please click the contact button below to send us a message.
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