Altered Capital

Marcus Traill is Founding Partner at Altered Capital, a venture capital and private equity fund manager investing in private growth companies in technology, healthcare, and financial services. He brings over 20 years of investment management experience, including senior roles at McPike Global Family Office—where he co-led the Private Investments division and managed over $2 billion in assets—and QuantRes, a quantitative trading firm. Traill holds the CFA charter, a Bachelor of Laws, and a Bachelor of Management Studies in Finance, both with First Class Honours.

McGregor Fea is a founding partner at Altered Capital, a venture capital and private equity firm based in New Zealand.

Nick Fogarty is an operating partner at Altered Capital and board director across multiple B2B SaaS companies through Escala Advisory, including Starboard, Hero, Lentune, and Onside. He previously served on the executive team at Seequent, scaling the company from approximately $10M to over $100M in ARR before its acquisition by Bentley Systems for more than $1B. Fogarty advises founders and leadership teams on go-to-market strategy, capital allocation, and governance, with fluency in Spanish and Portuguese and qualifications as a barrister and solicitor of New Zealand.

Stuart Inglis holds a Ph.D. and serves as co-founder and CTO of Exaba, while also working as a partner at Altered Capital, a venture and private equity firm where he provides operating support to portfolio company CTOs. His prior experience includes CTO and architect roles at Nyriad (storage systems), Real Time Genomics (DNA sequencing), and NetValue/Infusion Group (hosting platforms), with additional background in large-scale hosted services supporting millions of users across multiple data centers. His research has generated over 1,300 citations and 40+ patent applications across 11 families.

Mark Ashley serves as Chief Financial Officer at Altered Capital. A Chartered Accountant from New Zealand, he brings over 12 years of accounting and finance experience, including seven years spent scaling a startup to billion-dollar valuation.