Fundraising FoxWaterman Capital
Private equityAuckland · Growth · 11 people tracked
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Investment thesis
Waterman Capital focuses on mid-market private businesses in New Zealand, drawing on a highly experienced team with over 100 years of combined private equity experience and a core team that has worked together for more than a decade. The firm positions itself as an active investor that adds value by collaborating closely with management teams and stakeholders.
Source: firm website, verified Sep 27, 2026.
Team · 11 people
from the firm's websiteCo-founded Waterman with Matt Riley in 2004 and has over 25 years of direct private equity experience in New Zealand. A senior Investment Committee member focused on strategic support for portfolio companies, investor relations and deal origination.
Co-founded Waterman with Chris Marshall in 2004 and has over 25 years of direct private equity experience in New Zealand. A senior member of the Investment Committee focused on deal origination, portfolio company leadership and investor relations; former Chairman of the NZ Private Capital Association (2014-2018).
Joined Waterman in early 2023 after 13 years at UBS NZ, most recently Co-Head of Investment Banking, with prior roles at Lazard and Deloitte. An Investment Committee member focused on deal origination, investment execution, portfolio leadership and Waterman's ESG function.
Joined Waterman in 2011 with over 12 years of direct private equity experience in New Zealand, after roles at Fonterra, Jamieson Corporate Finance, BSkyB and Deloitte. An Investment Committee member with responsibility for Waterman's operating activities, deal origination and investment execution.
Joined Waterman in 2019 with over six years of direct private equity experience, after investment banking and corporate finance roles at Deutsche Craigs, KPMG and PwC. Leads Waterman's investment execution function alongside deal origination and portfolio support.
Joined Waterman at the start of 2024 with over two years of direct private equity experience, after private equity and investment banking roles at STILL, Houlihan Lokey and PwC. Assists in leading investment execution, deal origination and portfolio support.
Joined Waterman in 2006 with around 30 years of experience in financial and management reporting. Leads Waterman's financial and investor reporting, compliance and fund administration, after prior roles at Spicer and Oppenheim, investment banks in London and Moscow, and Lend Lease.
Joined Waterman in 2026 following two years in investment banking at Murray & Co, with experience in M&A, capital raising and ECM mandates. Responsible for evaluating new investment opportunities, transaction execution and portfolio company support.
Joined Waterman in 2009 with over 15 years of direct private equity experience and around 30 years in business process improvement and project management. Leads Waterman's value creation process and portfolio company leadership.
Joined Waterman in 2025 with corporate strategy and operations experience in Australia, including roles at GenesisCare, Team Global Express and Lion, and began her career in investment banking at Credit Suisse in Sydney. Focused on Waterman's value creation process and portfolio support.
Joined Waterman in 2019 to support the CFO and assists across internal financial and investor reporting. Has over 20 years of experience in financial accounting, including roles at Morgan Stanley, BP and Grant Thornton.
What they invest in
from 7 of 19 portfolio companiesFoodTech ×3Consumer ×2E-commerce ×2Enterprise Software ×2PropTech ×2AI & Machine Learning ×1Biotech ×1Cloud Computing ×1
HQs:New Zealand×6Australia×1
Investments · 19 tracked
founders shown can be your intro path
Crockers Property Group operates a body corporate management service for residential and commercial properties across New Zealand, handling administrative, compliance, and operational matters for bodies corporate and unit-titled developments.
PropTechAuckland, NZ
Tony Dangerfieldin
David Reid Homes Wanaka is a custom home building company that prioritizes quality construction and long-term durability over volume, employing experienced builders and high-quality materials for residential projects in the Wanaka region.
Construction TechPropTechNew Zealand, NZ
Chris Leithin
Farro is a New Zealand grocery and specialty food retailer offering an online store where customers can shop food products, manage a trolley, and save items to a wishlist.
ConsumerE-commerceFoodTech
Garth Sutherlandin
Manuka Health produces wellness products derived from bee-sourced ingredients — mānuka honey, propolis, and royal jelly.
ConsumerFoodTechWellness & Fitness
Co-investorsPacific Equity Partners Pty Ltd.
My Food Bag is a meal-kit delivery service that ships weekly boxes of recipes and pre-portioned ingredients, including 15-minute, pre-prepped, batch cook and ready-made options, to home cooks in New Zealand.
Direct to ConsumerE-commerceFoodTech
New Zealand Clinical Research (NZCR) is a clinical trials and medical research organization that conducts early-phase and later-phase clinical research for pharmaceutical, biotech, and contract research organizations.
BiotechEnterprise SoftwareHealthtechMedical DevicesAuckland, NZ
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Academic Colleges GroupAllevia HealthCanopy Healthcare GroupExpress Logistics GroupGuthrie BowronHealthlink GroupIcl Education GroupInternational Forwarding PtyPartners LifePbt GroupProvincial Education GroupWorkingIn
Frequently asked questions
- How many investments has Waterman Capital made?
- Waterman Capital has 19 tracked investments.
- What stage does Waterman Capital invest at?
- Waterman Capital invests at the Growth stage.
- What sectors does Waterman Capital focus on?
- Waterman Capital focuses on Sector Agnostic.
- Where is Waterman Capital located?
- Waterman Capital is headquartered in Auckland, NZ.
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