Venture Capital Fund Launched To Help New Zealand Companies Scale Globally

Scaling a New Zealand business to an international market used to involve multiple long-haul plane trips to network and carry out in-market research combined with fundraising the capital needed to grow into new markets. In a post-COVID world with limited travel, connecting on the ground internationally has become increasingly challenging.

To overcome some of these challenges, Nuance Connected Capital have launched a new early stage venture capital fund targeted at ambitious New Zealand entrepreneurs focussed on solving important global issues. Building on a growing number of new funds in New Zealand, Nuance has strong global industry relationships to help local companies with the connections they need when heading offshore.

“We believe that deep tech and science based solutions are a key part of the NZ economic recovery post COVID. As a scientist myself I’m excited to be leading a fund that invests in innovative scientific solutions designed to improve the planet and the way people live on it” says founding partner Ngaio Merrick.

Merrick’s combination of a strong science background with her experience in investment portfolio management, including that of Sir David Levene, bring a unique skill-set to the team. In co-founding Nuance, Merrick also becomes the first female founding partner of a deep tech venture fund in New Zealand.

Nuance Connected Capital co-founder Adrien Gheur is also co-founder of Maloekoe Ventures, an early stage venture fund supporting innovation in Southeast Asia. His deep understanding and previous investments in transformational tech industries including augmented and virtual reality, automation and blockchain give him an insightful perspective in the fast growing digital economy.

“Raising capital is key for New Zealand companies trying to scale globally. We help them to raise smart capital that comes with experienced investors who have deep connections and knowledge on the ground in international markets. Since moving to New Zealand I have met with so many exceptionally talented entrepreneurs and am amazed at the breadth and depth of incredible ideas that Kiwi’s come up with” says Gheur.

Merrick and Gheur have over 30 years of venture capital and private equity investment experience between them, and they bring a wealth of knowledge and expertise in supporting early stage and high-growth start-ups.

The fund has attracted a cornerstone investment from global family wealth management fund Alvarium, and is seeking additional investors with a minimum investment of $1m. Alvarium works with partners across North America, Europe, and Asia Pacific to provide advice and management of assets worth $25b globally.

Nuance invests in people over products and targets early stage founders who are ready for Series A or B funding levels (with 20% targeted for Seed0, aiming to invest in entrepreneurs and teams who are solving problems which improve the health of the planet or people’s lives. The fund seeks to facilitate the introductions into global beta customers, distributors, talent acquisition, capital or exit partners needed by New Zealand entrepreneurs to scale.

Nuance is unique in the New Zealand investment landscape in its close connections to extensive industry channels in the world's largest and fastest growing markets. These connections not only act as a source of expertise and due diligence for Nuance, but can also lead to business development, scaling, and exit opportunities for its portfolio companies.

Nuance is interested to hear from investment-ready entrepreneurs working in deep tech, science, and innovation, and investors ready to invest in New Zealand’s best entrepreneurial talent.

“We want to work with smart investors and bold, dynamic, agile founders who think outside the box. Our people-centric approach and deep global networks enable us to provide strategic market access to the right entrepreneurs, and empower New Zealand solutions to be at the forefront of solving global problems,” says Merrick.

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