Wholesale Investor NZWholesale Investor NZ
Top Opportunities in February 2026Last updated: 26 February 2026

Limited Partnership Investment Opportunities in NZ

Flow-through tax structure for wholesale investors

Opportunities
33
Avg Return
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From
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AIP Eligible
32

Compare Top Opportunities

#1
Greenmount Capital logo

Greenmount Capital New Economy Fund LP

by Greenmount Capital

OpenAIP Eligible

Target 20%+ IRR from new economy

Target Return
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Minimum
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Term
7-10 years
Risk
High
#2
Pioneer Capital logo

Pioneer Capital Private Equity V

by Pioneer Capital

OpenAIP Eligible

15-20% p.a. from global expansion

Target Return
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Minimum
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Term
Open-ended
Risk
High
#3
ForthCo logo

Active Long Term Growth Fund

by ForthCo

OpenAIP Eligible

Mid-market PE with quarterly liquidity

Target Return
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Minimum
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Term
Open-ended evergreen
Risk
Medium
#4
Southern Alps logo

Southern Alps Retirement Living Sunrise Fund

by Southern Alps

OpenAIP Eligible

12-15% p.a. from retirement villages

Target Return
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Minimum
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Term
5-7 years
Risk
Medium
#5
Greenmount Capital logo

Greenmount Co-Investment Fund No.1 LP

by Greenmount Capital

OpenAIP Eligible

12-18% p.a. from co-investment

Target Return
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Minimum
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Term
5-7 years
Risk
High
#6
Bancorp logo

Kākāpō Responsible Investment Fund

by Bancorp

OpenAIP Eligible

10-15% p.a. with impact focus

Target Return
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Minimum
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Term
5-7 years
Risk
Medium
#7
Williams Corporation logo

Williams Corporation Completed Homes LP

by Williams Corporation

Open

10% p.a. secured by completed homes

Target Return
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Minimum
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Term
Medium term
Risk
Low
#8
MyFarm Investments logo

MyFarm KiwiFruit Fund Limited Partnership

by MyFarm Investments

OpenAIP Eligible

Invest in NZ's globally successful kiwifruit industry

Target Return
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Minimum
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Term
Long-term with liquidity options
Risk
Medium
#9
MyFarm Investments logo

MyFarm Solar Fund Limited Partnership

by MyFarm Investments

OpenAIP Eligible

Solar infrastructure with 10-12% returns

Target Return
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Minimum
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Term
Long-term with PPA backing
Risk
Medium
#10
Peninsula Capital logo

Peninsula Credit Fund II LP

by Peninsula Capital

OpenAIP Eligible

9-12% p.a. quarterly distributions

Target Return
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Minimum
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Term
Open-ended evergreen
Risk
Medium
#11
Seedling logo

Seedling Next Gen Agri Limited Partnership

by Seedling

OpenAIP Eligible

9% pre-tax IRR from sustainable dairy

Target Return
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Minimum
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Term
7-10 years
Risk
Medium
#12
MyFarm Investments logo

CQuest Forestry Fund Limited Partnership

by MyFarm Investments

OpenAIP Eligible

Forestry with carbon credit potential

Target Return
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Minimum
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Term
Open-ended after first close
Risk
Medium
#13
Pioneer Capital logo

Pioneer Capital Private Debt 2

by Pioneer Capital

OpenAIP Eligible

8-12% p.a. from proven debt strategy

Target Return
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Minimum
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Term
5-7 years
Risk
Medium
#14
Previously Unavailable logo

Brand Fund 2 by Previously Unavailable and Icehouse Ventures

by Previously Unavailable

FundraisingAIP Eligible

28.63% IRR from Fund 1

Target Return
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Minimum
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Term
10+ years
Risk
High
#15
Movac logo

Movac Growth Opportunity Fund (Fund 8)

by Movac

FundraisingAIP Eligible

Top decile returns, 25+ years experience

Target Return
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Minimum
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Term
10+ years
Risk
High
#16
Altered Capital logo

Altered Capital Venture Fund II

by Altered Capital

FundraisingAIP Eligible

$250m FUM, $1B FUA track record

Target Return
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Minimum
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Term
10+ years
Risk
High
#17
Bridgewest Group logo

Bridgewest Venture Fund 1 LP

by Bridgewest Group

InvestingAIP Eligible

Seed to Series A deep-tech focus

Target Return
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Minimum
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Term
10+ years
Risk
High
#18
NZVC logo

NZVC Fund 2

by NZVC

FundraisingAIP Eligible

Top 5% Fund 1, 50% lower valuations

Target Return
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Minimum
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Term
10+ years
Risk
High
#19
Quidnet Ventures logo

Quidnet Ventures Fund II

by Quidnet Ventures

InvestingAIP Eligible

Top-quartile Fund I, 20+ companies

Target Return
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Minimum
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Term
10+ years
Risk
High
#20
WNT Ventures logo

WNT Ventures Fund 4

by WNT Ventures

InvestingAIP Eligible

Top quartile with proven exits

Target Return
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Minimum
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Term
10+ years
Risk
High
#21
Ryft logo

Ryft Fund Zero

by Ryft

FundraisingAIP Eligible

4-6 venture studio companies

Target Return
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Minimum
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Term
10+ years
Risk
High
#22
GD1 logo

GD1 Fund 3 LP

by GD1

InvestingAIP Eligible

Anchored by NZ Government largest VC investment

Target Return
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Minimum
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Term
10+ years
Risk
High
#23
GD1 logo

GD1 Fund 4 LP

by GD1

FundraisingAIP Eligible

Upper quartile performance continues

Target Return
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Minimum
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Term
10+ years
Risk
High
#24
Icehouse Ventures logo

IV Sustainable Technology Fund

by Icehouse Ventures

InvestingAIP Eligible

Impact investing with sustainability outcomes

Target Return
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Minimum
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Term
10+ years
Risk
High
#25
Ecliptic Venture Capital logo

Ecliptic Venture Capital LP

by Ecliptic Venture Capital

InvestingAIP Eligible

Active hands-on management

Target Return
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Minimum
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Term
10+ years
Risk
High
#26
Maūi Toa logo

Maūi Toa Fund 1

by Maūi Toa

FundraisingAIP Eligible

Māori owned and led VC

Target Return
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Minimum
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Term
10+ years
Risk
High
#27
Motion Capital logo

Motion Capital

by Motion Capital

InvestingAIP Eligible

Climate-tech specialist with track record

Target Return
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Minimum
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Term
10+ years
Risk
High
#28
Point16 logo

New Zealand Fintech Fund

by Point16

InvestingAIP Eligible

Fintech fastest-growing sector (32% CAGR)

Target Return
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Minimum
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Term
10+ years
Risk
High
#29
Nuance Connected Capital logo

Nuance Connected Capital

by Nuance Connected Capital

InvestingAIP Eligible

Female scientist-led deep tech

Target Return
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Minimum
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Term
10+ years
Risk
High
#30
Pacific Channel logo

Pacific Channel Fund III

by Pacific Channel

InvestingAIP Eligible

Largest deep-tech VC in NZ

Target Return
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Minimum
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Term
10+ years
Risk
High
#31
Matū Karihi logo

Matū Karihi Fund

by Matū Karihi

InvestingAIP Eligible

17 science & tech companies backed

Target Return
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Minimum
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Term
10+ years
Risk
High
#32
Icehouse Ventures logo

Icehouse Ventures Seed Fund IV LP

by Icehouse Ventures

FundraisingAIP Eligible

NZ's most active early-stage VC

Target Return
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Minimum
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Term
10+ years
Risk
High
#33
Cultivate Ventures logo

Cultivate Ventures Limited Partnership

by Cultivate Ventures

InvestingAIP Eligible

15% IRR target, industry backed

Target Return
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Minimum
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Term
10+ years
Risk
High

About This Category

Access Limited Partnership (LP) investment opportunities in New Zealand. LP structures provide flow-through taxation where income, expenses, and tax credits flow directly to investors. Common in venture capital, private equity, and alternative investments. LPs offer flexibility in tax treatment, clear legal structure, and are familiar to institutional investors. Partners file individual tax returns reflecting their share of partnership income.

Frequently Asked Questions

How does LP taxation work?

Limited Partnerships provide flow-through taxation. Income, losses, and tax credits flow directly to limited partners who report their share on individual tax returns. Tax is paid at your marginal rate, not at fund level.

What's the difference between LP and PIE?

LPs provide flow-through taxation at your marginal rate, while PIE funds tax at your PIR (often lower). LPs require individual tax returns, PIEs don't. LPs are common for PE/VC, PIEs for property/credit. Neither is universally better - it depends on your situation.

Do I need to file additional tax returns for LP investments?

Yes. The LP will provide an annual tax statement showing your share of income, expenses, and credits. You include these in your personal tax return. Many investors work with accountants familiar with LP structures.

Important Information

This website is an information directory only and does not constitute financial advice. The information provided is general in nature and does not take into account your individual financial situation, objectives, or needs. Past performance is not indicative of future results.

Investment in wholesale products involves risk, including possible loss of principal. Wholesale investors do not have the same protections as retail investors under the Financial Markets Conduct Act 2013.

Before making any investment decision, you should seek independent financial, legal, and tax advice from appropriately qualified professionals. Wholesale Investor does not recommend or endorse any particular investment or fund manager.