Icehouse Ventures: NZ VC for Kiwi founders

Icehouse Ventures is a New Zealand venture capital firm backing Kiwi founded companies with the potential to scale into global markets.

The platform traces its roots to Ice Angels, launched in 2003 as New Zealand’s first angel investment network. It raised its first fund in 2013 and formally became Icehouse Ventures in 2019, when Simplicity KiwiSaver, Jarden, and Sir Stephen Tindall’s K1W1 joined as shareholders.

Today, Icehouse Ventures manages a range of investment vehicles spanning pre seed through pre IPO, supported by a co investor network of more than 3,000 investors. The firm says it has invested more than $800 million across more than 390 Kiwi founded companies.

Its portfolio includes some of New Zealand’s better known technology companies, including Halter, Crimson Education, Sharesies, Partly, Hnry, Dawn Aerospace, Tracksuit, Tradify, Ethique, Basis, Fuel50, and Spalk, alongside international investments such as Wayve, Substack, and Nuro. Growth Fund III is currently being marketed as an open investment vehicle.

Icehouse Ventures is a generalist technology investor rather than a dedicated climate fund, but sustainability is part of its broader investment framework. The firm publishes a Responsible Investment Policy aligned with the UN Principles for Responsible Investment, and Principal Bex Gidall leads both the Arc Fund and Sustainable Technologies Fund.

Its climate and impact related portfolio includes companies such as Neocrete, which develops additives designed to reduce cement use in concrete, and Ethique, a solid personal care brand focused on reducing packaging waste.

Key benefits

Full-stack NZ coverage, not a single cheque

Public materials describe capital from pre-seed to pre-IPO, plus a large co-investor network, so founders can keep Icehouse in the cap table as they grow.

Deep Kiwi founder network

Ice Angels (2003) through 390+ companies and names such as Halter, Sharesies, Crimson Education, and Ethique is the core brand claim: they stay with NZ companies that go global.

Published responsible-investment screen

Controlled funds follow a UN PRI–style policy with fossil, weapons, and vice exclusions, plus active ESG terms when Icehouse leads—with clear limits on nominee and minority positions.

Climate and deep-tech already in the book

Sustainable Technologies / Arc sleeves and holdings such as Neocrete, Dawn Aerospace, OpenStar, and Ethique sit inside a broader tech portfolio rather than a pure impact fund.

Rather than operating a single fund with one stage or cheque size, Icehouse Ventures manages a range of vehicles with different portfolio strategies. These include early stage angel investing, First Cut for founders under 30, Arc, the Brand Fund, Sustainable Technologies, and growth stage funds designed to support more mature companies. Historically, Growth Fund II focused on Series A through Series D businesses that were typically five to seven years old, generating revenue, and employing more than 50 people.

The firm does not publish a single minimum or maximum cheque size across the platform. Capital is deployed through multiple funds, each with its own mandate, stage focus, and portfolio construction strategy. Founders seeking investment can apply through Icehouse Ventures’ capital raising process.

Responsible investment is incorporated into the firm’s investment screening for funds it directly controls. Its exclusion policy covers areas including nuclear power generation, extractive fossil fuel and mineral businesses, water bottling, adult entertainment, alcohol, cannabis, tobacco, gambling, weapons, and companies involved in serious human rights or UN Global Compact violations. Technologies designed to reduce environmental or social harm within those sectors may still be eligible for investment.

These screens are applied at the time of investment. Icehouse Ventures also notes that, because it is typically a minority shareholder in illiquid private companies, it may not always be able to exit immediately if a portfolio company later moves into an excluded activity. Investments made through nominee structures or individual Ice Angels deals are not necessarily governed by the same responsible investment policy.

Frequently asked questions

What does Icehouse Ventures fund?

Icehouse Ventures is a New Zealand venture capital firm backing Kiwi founded companies with the potential to scale into global markets. The platform traces its roots to Ice Angels, launched in 2003 as New Zealand’s first angel investment network. It raised its first fund in 2013 and formally became Icehouse Ventures in 2019, when Simplicity KiwiSaver, Jarden, and Sir Stephen Tindall’s K1W1 joined as shareholders. Today, Icehouse Ventures manages a range of investment vehicles spanning pre seed through pre IPO, supported by a co investor network of more than 3,000 investors. The firm says it has invested more than $800 million across more than 390 Kiwi founded companies. Its portfolio includes some of New Zealand’s better known technology companies, including Halter, Crimson Education, Sharesies, Partly, Hnry, Dawn Aerospace, Tracksuit, Tradify, Ethique, Basis, Fuel50, and Spalk, alongside international investments such as Wayve, Substack, and Nuro. Growth Fund III is currently being marketed as an open investment vehicle. Icehouse Ventures is a generalist technology investor rather than a dedicated climate fund, but sustainability is part of its broader investment framework. The firm publishes a Responsible Investment Policy aligned with the UN Principles for Responsible Investment, and Principal Bex Gidall leads both the Arc Fund and Sustainable Technologies Fund. Its climate and impact related portfolio includes companies such as Neocrete, which develops additives designed to reduce cement use in concrete, and Ethique, a solid personal care brand focused on reducing packaging waste.

What is Icehouse Ventures's check size?

Varies

What is Icehouse Ventures's investment thesis?

Icehouse Ventures’ core thesis is that New Zealand founders represent an investable asset class with global potential. The firm aims to back companies early, then continue investing as they mature, raise larger rounds, and expand into international markets. Rather than operating a single fund with one stage or cheque size, Icehouse Ventures manages a range of vehicles with different portfolio strategies. These include early stage angel investing, First Cut for founders under 30, Arc, the Brand Fund, Sustainable Technologies, and growth stage funds designed to support more mature companies. Historically, Growth Fund II focused on Series A through Series D businesses that were typically five to seven years old, generating revenue, and employing more than 50 people. The firm does not publish a single minimum or maximum cheque size across the platform. Capital is deployed through multiple funds, each with its own mandate, stage focus, and portfolio construction strategy. Founders seeking investment can apply through Icehouse Ventures’ capital raising process. Responsible investment is incorporated into the firm’s investment screening for funds it directly controls. Its exclusion policy covers areas including nuclear power generation, extractive fossil fuel and mineral businesses, water bottling, adult entertainment, alcohol, cannabis, tobacco, gambling, weapons, and companies involved in serious human rights or UN Global Compact violations. Technologies designed to reduce environmental or social harm within those sectors may still be eligible for investment. These screens are applied at the time of investment. Icehouse Ventures also notes that, because it is typically a minority shareholder in illiquid private companies, it may not always be able to exit immediately if a portfolio company later moves into an excluded activity. Investments made through nominee structures or individual Ice Angels deals are not necessarily governed by the same responsible investment policy.

Which sectors does Icehouse Ventures invest in?

Built Environment, Environment & Conservation, Impact Finance, Sustainable Food & Agriculture

Which companies has Icehouse Ventures backed?

Causeartist lists 2 published portfolio companies for Icehouse Ventures.