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Punakaiki Fund

Venture capital

Auckland · Growth · 9 people tracked

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Investment thesis

Punakaiki Fund is an evergreen, shareholder-owned venture capital investment company focused on funding under-capitalised high-growth technology companies in New Zealand and helping accelerate the transition to a value economy. Since its first investment in 2014 it has made over 120 investments across more than 30 companies. It operates a permanent-capital structure and is managed by 2040 Ventures Limited, with a sister fund (Climate VC Fund) focused on climate. Its aim is to help New Zealand technology companies grow into global leaders.

Source: firm website, verified Aug 7, 2026.

Stage
Growth
Check
$1M
HQ
Auckland, NZ
Leads rounds
Leads
Instruments
Equity
Founded
2012
Last 12 months
1 investment
AUM
$100M
Tracked investments
35
IPOs
2
Acquisitions
3

Team · 9 people

from the firm's website & public directories

What they invest in

from 29 of 35 portfolio companies

SaaS ×20Enterprise Software ×8AI & Machine Learning ×5Future of Work ×5Cloud Computing ×4EdTech ×4Cybersecurity ×3Hardware ×3

HQs:New Zealand×13United States×4Australia×1

Who they back

founder profiles across 14 portfolio companies
71%
solo founders
10 of 14 mapped founding teams

Founding team size:solo founder×102 founders×24+ founders×2

Investments · 35 tracked

founders shown can be your intro path

By year:2026 · 12025 · 12022 · 22021 · 22018 · 12015 · 18 dated

Teradyne Incteradyne.comin𝕏NASDAQ: TER

Teradyne provides automated test equipment and robotics solutions for manufacturers to ensure product quality and accelerate time-to-market.

Advanced ManufacturingHardwareRoboticsSemiconductors

Alex d'ArbeloffNick DeWolf

Core Schedulecoreschedule.comin✓ verified

Core Schedule develops staff scheduling software for healthcare organisations, helping teams manage complex rosters and reduce administrative workload.

Future of WorkHealthtechHR TechSaaSWellington, NZ

Dr Stephen C. Pool(CEO and Founder)inCade Murphy(CTO)in

Co-investorsCreative HQ — The IncubatorNZ Growth Capital Partners

Projectworksprojectworks.cominJun 2025 · $12M✓ verified

Projectworks provides software for managing time tracking, project management, resource allocation, and invoicing for professional services firms.

AI & Machine LearningEnterprise SoftwareFuture of WorkSaaS

Doug Taylor(Co-founder)inMatt Hayter(Company President & CPO)in

Co-investorsBridgewest VenturesTen Coves Capital

Astute Accessastutesmartlocks.com

A provider of smart lock hardware and enterprise cloud software that enables organizations to control physical access via smartphones and track lock usage in real-time.

Enterprise SoftwareHardwareIoT

Autodeskautodesk.comJul 2018

Autodesk is a publicly traded developer of design, engineering, and entertainment software, best known for AutoCAD.

San Rafael, US

Andrew Anagnost(Executive Officer, Director)inRichard Scott Herren(Executive Officer)Steven M. Blum(Executive Officer)Pascal W. Di Fronzo(Executive Officer)Carmel Galvin(Executive Officer)

BoardBetsy Rafael(Director)

Co-investorsAccess Venture PartnersAutodesk FoundationBaseline VenturesBuilding VenturesDesignXHomebrew+9 more

Autohiveautohive.comin𝕏

Autohive is a no-code platform that lets teams build and deploy AI agents to automate recurring internal work such as reporting, document generation, and operational workflows.

AI & Machine LearningFuture of WorkSaaS

JD Trask(CEO & Co-founder)

Conqaconqa.comin

CONQA provides digital quality assurance and checklist management software to reduce administrative burdens for construction teams.

Construction TechPropTechSaaS

Peter Simons(Founder)in

Couchdropcouchdrop.ioin𝕏Mar 2022

Couchdrop provides cloud infrastructure for automating data collection, routing, and monitoring from multiple partners into analytics platforms and storage systems.

Cloud ComputingData & InfrastructureEnterprise SoftwareHR TechSaaSAuckland, NZ

CullBeckcullbeck.comJul 2026 · $20M

Cullbeck develops a hydrogen-based reactor that converts titanomagnetite (TTM) ironsand or crushed rock ore into Direct Reduced Iron in about 150 seconds, targeting the decarbonisation of steel production.

CleantechClimate TechNew MaterialsAuckland, NZ

Martin Hacon(CEO)

Co-investorsCreative HQ — The IncubatorClimate Venture Capital FundIcehouse VenturesMotion CapitalOutset Ventures

Devolidevoli.comin

Devoli provides a connectivity platform that enables managed service providers and businesses to offer broadband, mobile, voice, and data services under their own brands.

Cloud ComputingEnterprise SoftwareSaaS

Family Zonefamilyzone.comin

Qustodio (which merged with Family Zone) provides parental control and digital wellbeing apps that let parents filter content, set screen-time limits, monitor activity, track location, and view calls and messages across their children's devices.

ConsumerCybersecurityWellness & Fitness

Formusformus.cominFeb 2022 · $5M

Formus Labs develops software and tools for orthopedic surgery and musculoskeletal care, serving surgeons and clinical practitioners.

AI & Machine LearningDigital HealthHealthtechMedical DevicesAuckland, NZ

Thor Besier(Co-founder & Chief Scientific Officer)inJustin Fernandez(Co-founder, Science Advisor)inJu Zhang(Founder, Chief Executive Officer)inA/Prof Justin Fernandez(Co-founder, Science Advisor)Antonije Velevski(Co-founder, former senior software engineer)inSarah Wixon(Head of Finance)in

Co-investorsCure Kids VenturesGD1Nuance CapitalNZ Growth Capital PartnersPacific ChannelIcehouse Ventures

Frellogetfrello.comin

Frello provides member management platforms for sports clubs, associations, hobby groups, non-profits, and community centres.

SaaSSports Tech

Co-investorsEnterprise Angels

Gethomesafegethomesafe.comin

GetHomeSafe provides a safety monitoring platform for lone workers in remote locations, equipped with satellite connectivity, panic alerts, check-in features, and man-down detection.

Enterprise SoftwareFuture of WorkIoTSaaS

Boyd Peacock(Founder)in

Co-investorsEnterprise Angels

Hectre Group Limitedhectre.com

Fruit supply chain software using computer vision and data to improve grower and packhouse efficiency.

Co-investorsAfterWork VenturesEnterprise AngelsNuance CapitalNZ Growth Capital PartnersPacific Channel

Hungry Hungryhungryhungry.comin

HungryHungry provides ordering and digital payment technology for hospitality businesses such as restaurants, cafes, and hotels, covering dine-in, takeaway, delivery, and room service.

FintechFoodTechMarketing TechSaaS

Co-investorsMovacPartners for GrowthPartners for Growth (PFG)

Itpitp.nz

IT Professionals NZ was a New Zealand membership organisation for IT professionals; as of December 2025 its members voted to place it into liquidation and it is winding down operations.

Future of Work

Paul Matthewsin

Joistevercommerce.comin𝕏Acquired

EverCommerce provides integrated SaaS solutions for service-based small and medium businesses, including business management, payment acceptance, and customer engagement software.

Enterprise SoftwareFintechSaaSDenver, US

Eric Remer(Founder / CEO / Chairman of the Board of Directors)inMatt Feierstein(President, EverCommerce & CEO, EverPro)in

Co-investorsJobsOhio VenturesKensington Capital Partners LimitedMantella Venture PartnersSilver Lake Partners

Linewizelinewize.ioin

Qoria (formerly Family Zone) provides digital safety and wellbeing solutions for schools, parents, and children across K-12 environments.

CybersecurityEdTechEnterprise SoftwareMental HealthSaaSPerth, AU

Tim Levy(Managing Director)inCrispin SwanBen TriggerPaul Robinsonin

Linewizelinewize.comin𝕏

Linewize provides digital safety and wellbeing solutions for schools, including classroom management, web filtering, monitoring tools, and educational resources designed to prevent harm and support student online safety.

CybersecurityEdTechMental HealthSaaSSan Diego, US

Tim Levy(Managing Director)Crispin SwanBen TriggerPaul Robinson

MOBImobihq.comin

MOBI provides online ordering technology for restaurants and hospitality businesses, including branded websites and apps, self-service kiosks, loyalty programs, delivery integration, and over 120 platform integrations.

AI & Machine LearningFoodTechRetail TechSaaS

Co-investorsBregal Sagemount

Moxionmoxion.ioinAcquired

Moxion offers a cloud platform for film and video production that lets crews share camera footage and metadata ("instant dailies") with their teams within seconds of recording.

Cloud ComputingMedia & EntertainmentSaaS

Co-investorsAlt VenturesEnterprise AngelsNZ Growth Capital PartnersEclipseEnergy Impact PartnersMarubeni Ventures Inc.+4 more

Nztechpodcastnztechpodcast.comin𝕏

NZ Tech Podcast is a New Zealand technology news podcast featuring interviews, reviews, and opinions on topics such as AI, cybersecurity, and startups.

Media & Entertainment

Paul Spain(Host)in

Co-investorsNZVC

Onceitonceit.co.nzin𝕏

Onceit is a New Zealand-based online fashion retailer offering designer clothing, footwear, beauty, and home décor from over 500 brands at discounted prices.

ConsumerDirect to ConsumerE-commerceMarketplacesRetail TechAuckland, NZ

Orahorah.comin𝕏

Orah provides attendance tracking and student location management software for schools, using NFC checkpoints, QR codes, and kiosks to automate class, dorm, and activity check-ins across devices.

EdTechSaaS

Quantifi Photonicsquantifiphotonics.cominJul 2021 · $15M

Quantifi Photonics develops test and measurement instruments for photonics applications, including coherent optical communication solutions, sampling oscilloscopes, laser sources, optical switches, spectrum analyzers, and related components for high-volume manufacturing and R&D laboratories.

AI & Machine LearningDeep TechHardwareSemiconductors

Co-investorsNuance CapitalNZ Growth Capital PartnersPacific ChannelIntel Capital

Raygunraygun.comin𝕏

Raygun builds software development tools that help teams identify, diagnose and resolve user-impacting issues and performance problems across their applications.

Cloud ComputingDeveloper ToolsSaaS

Barry Wark(CEO And Co-founder)Gina(VP of Customer Success)

Redseedredseed.comin

RedSeed provides video-based training, coaching, and compliance solutions on a single platform aimed at developing managers into confident leaders and giving HR teams intelligence to scale the process.

EdTechHR TechSaaSChristchurch, NZ

Anya Anderson(CEO and co-founder)in

Sea Fluxsea-flux.comin

Sea-Flux provides maritime operations management software for fishing, aquaculture, and luxury yacht businesses to manage vessel compliance, maintenance, and crew safety.

Enterprise SoftwareIoTLogistics & Supply ChainSaaSNew Zealand, NZ

Tai(Founder & CEO)Phil(Managing Director)

Vendvendhq.com𝕏Aug 2015Acquired

Vend, now part of Lightspeed and marketed as Lightspeed Retail (X-Series), is a cloud-based point-of-sale and retail management platform for retailers to manage inventory, sales, customers, payments, and reporting across in-store and online channels.

E-commerceRetail TechSaaS

Vaughan Fergusson(Founder)Vaughan Rowsell(Founder)

Co-investorsCommunitas Capital PartnersFolklore VenturesMovacPoint NineQualgroSquare Peg Capital+6 more

Whip Aroundwhiparound.comin𝕏Dec 2021 · $21M

Whip Around provides compliance and operational management software for freight companies, initially developed to reduce paper-based processes in the New Zealand logistics industry.

Logistics & Supply ChainMobility & TransportationSaaS

Co-investorsAccel-KKRAmplo VenturesFantail Ventures

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

OmnyQubedocsTimely

Exits · 5

2 IPOs · 3 acquisitions · showing 1

Teradyne IncNASDAQ: TER

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Punakaiki Fund made?
Punakaiki Fund has 35 tracked investments, 5 of which have exited, including 2 dated in the last 24 months.
What stage does Punakaiki Fund invest at?
Punakaiki Fund invests at the Growth stage.
What is Punakaiki Fund's typical check size?
Punakaiki Fund typically writes checks of $1M.
What sectors does Punakaiki Fund focus on?
Punakaiki Fund focuses on AI & Machine Learning, Consumer, Data & Infrastructure, Deep Tech, EdTech, Enterprise Software, Retail Tech, SaaS, Sector Agnostic.
Where is Punakaiki Fund located?
Punakaiki Fund is headquartered in Auckland, NZ.
Does Punakaiki Fund lead rounds?
Yes, Punakaiki Fund leads investment rounds.
Who does Punakaiki Fund co-invest with?
Punakaiki Fund most often shares deals with NZ Growth Capital Partners, Enterprise Angels, Nuance Capital, among 40 tracked co-investors.

Media · Podcasts & interviews

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