Simplicity, a KiwiSaver provider, has announced a $50 million investment in Icehouse Ventures' Growth Fund III. This fund targets high-growth New Zealand companies, including Halter, Calocurb, and Supabase.
Icehouse Ventures CEO Robbie Paul described the investment as a vote of confidence in both the companies backed by the fund and the opportunities available to New Zealand investors. He emphasized the goal of increasing Kiwi ownership in the country's leading companies.
Simplicity managing director Sam Stubbs noted that this investment is likely one of the largest venture capital investments of its kind by a KiwiSaver fund. He highlighted how KiwiSaver is reshaping New Zealand's economy and encouraged more KiwiSaver managers to participate.
Other KiwiSaver providers, such as Generate, have also invested in Icehouse Ventures' funds. Generate has committed $40 million across Growth Funds I and II, while Pie Funds is a $10 million cornerstone investor in Growth Fund II and plans to invest again in Growth Fund III.
Paul pointed out that KiwiSaver providers have now committed at least $190 million to Icehouse Ventures' funds and their portfolio companies, up from $60 million at the close of Growth Fund II in 2024. This allows a broader group of Kiwis to become shareholders in companies that would otherwise be largely inaccessible to them.