Icehouse Technology Fund
TBK Capital has previously raised capital for Icehouse Ventures which is currently raising $30 million for their third flagship investment fund that supports early stage New Zealand technology companies.
TBK Capital has previously raised capital for Icehouse Ventures
which is currently raising $30 million for their third flagship
investment fund that supports early stage New Zealand technology
companies.
The fund was announced to their existing investors in March and already
has more the $15 million committed. It builds upon their experience form
investing in 288 early stage companies since 2003.
These previous seed funds were among the first investors in standouts including Mint Innovation, First AML, Dawn Aerospace, Halter, and Sharesies.
Icehouse Ventures Seed Fund III
This Fund III will invest in another 30 early stage technology companies
over the next three to four years. The rational is that the next
generation of startups will be the largest, boldest, and most experience
New Zealand has ever seen.
Many of tomorrow’s founders will have worked with and learned from today’s leaders like Rocket Lab (where the founder of Halter previously worked), Lanzatech (where the founder of Mint worked), and Xero (where the founders of Sharesies worked).
Seed Fund III is now positioned to access and invest in this next
generation as a result of Icehouse Ventures time and scale-based
advantages. Icehouse Ventures has the largest community of founders,
$250 million in funds under management, 1,500 investors, and among the
largest and most experienced team in venture capital in New Zealand.
Supporting early stage companies
The Fund will stick to what Icehouse Ventures knows and is known for;
finding, investing in, and supporting promising early stage technology
startups. It is led by the same Partners who established and executed
upon the earlier funds - all of whom are investing personally again.
The companies they support are typically:
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1-5 years old with teams of 2-20 employees.
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Raising their 1st or 2nd rounds of capital.
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Based upon unique insights or research.
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Targeting global opportunities with $100m+ annual revenue potential.
Icehouse Ventures track record
Icehouse Ventures’ earlier seed funds have invested in 79 startups since
the first active fund (named “Tuhua Ventures I”) was launched in 2016.
Of the 79 investments; 7 startups have delivered positive exits; 6 companies have failed; and the remaining are still operating.
Live investments include Halter (~50x uplift on their first round),
First AML (~30x uplift) Sharesies (~25x uplift) as well as a number of
other notable start-ups including Tradify, Nanolayr, Joyous, and Partly.
The live companies are collectively generating over $100 million in
revenue and employ more than1,000 Full Tim Equivalent employees. $41
million was invested by the earlier seed funds and the current holding
value (based on last round valuations) is $71.5m. The current IRR for
the earlier funds ranges from 5%-62%.
Current Opportunity
Icehouse Ventures anticipates completing a final close for this fund
over Q2. The minimum investment is $50,000, which is paid 25% up front
and then in 25% tranches over three years.
For further information you can review their Information Pack here or watch this brief video.
Then if you’d like invest, or to know more, email us at team@tbkcapital.co.nz or call me on 021 902 901 and I can arrange for the documents to be sent to you.
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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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