Overview
Punakaiki Fund is an evergreen, open-ended venture capital fund managed by 2040 Ventures Limited in Auckland, investing in a portfolio of revenue-generating New Zealand companies. The fund holds interests across a diversified set of portfolio companies and is structured to allow ongoing participation rather than operating on a fixed term. It is available to wholesale investors only, with access via the Catalist platform. The fund is eligible for the Active Investor Plus visa under the growth category on the NZTE Acceptable Managed Funds list.
Fund Overview
NZ's first and largest evergreen venture capital company. Total assets NZ$129M (31 Mar 2026) across 18 revenue-generating portfolio companies. Wholesale minimum NZ$50,000 via Catalist. Manager: 2040 Ventures Limited. AIP Growth pre-approved.
Asset Class
Venture Capital
Structure
Evergreen
Fund Size
NZD $107.0M
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Quick Info
This information is for wholesale investors only and does not constitute financial advice. All investments carry risk. Please seek professional advice before making investment decisions.
Frequently Asked Questions
What is Punakaiki Fund?
NZ's first and largest evergreen venture capital company. Total assets NZ$129M (31 Mar 2026) across 18 revenue-generating portfolio companies. Wholesale minimum NZ$50,000 via Catalist. Manager: 2040 Ventures Limited. AIP Growth pre-approved.
Who manages Punakaiki Fund?
Punakaiki Fund is managed by 2040 Ventures (FSPR FSP288485, NZBN 9429030274563) based in Auckland. Manager registration on the Financial Service Providers Register is a legal requirement under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 and does not itself constitute an endorsement.
What asset class is Punakaiki Fund?
Punakaiki Fund is classified as Venture Capital on Wholesale Investor NZ. Asset-class classification reflects the fund's stated investment focus per its Information Memorandum and is provided for navigation purposes only — review the IM for the full strategy and risk profile.
Is Punakaiki Fund evergreen or a closed-end fund?
Punakaiki Fund is an evergreen fund — it is permanently open for subscription rather than running on fixed vintages. New investors can typically apply at any time subject to capacity, manager discretion, and the fund's stated subscription windows. Redemption terms are set in the Information Memorandum and vary by fund.
What is the minimum investment in Punakaiki Fund?
Minimum investments across Punakaiki Fund's currently listed offers range from NZ$100K. Minimums are set per offer and may change for new vintages — confirm the current minimum in the relevant Information Memorandum before subscribing.
Is Punakaiki Fund wholesale-only?
Yes — Punakaiki Fund is offered on a wholesale-only basis under Schedule 1 of the Financial Markets Conduct Act 2013. Subscription requires self-certification under one of the seven Schedule 1 pathways (typically the NZ$5M net-assets "large person" pathway or an accountant- or lawyer-signed eligible-investor certificate per Clauses 38-40). Wholesale-only funds do not publish a retail Product Disclosure Statement and do not appear on the Disclose Register.
Is Punakaiki Fund eligible for the Active Investor Plus (AIP) visa?
Punakaiki Fund is flagged as AIP-eligible on Wholesale Investor NZ, indicating it appears (or has appeared) on NZTE's Acceptable Managed Funds list for AIP visa applicants. The visa requires NZ$5M (Growth Category, 36-month hold) or NZ$10M (Balanced Category, 60-month hold) in acceptable investments held continuously for the full period. Eligibility determination sits with NZTE + Immigration NZ — verify against the live NZTE list before relying on this classification, and see our AIP eligibility guide for the full statutory framework.
When was Punakaiki Fund launched?
Punakaiki Fund was launched in 2013. Operational tenure is one input to evaluating manager track record but does not itself indicate likely future performance — past performance is not a reliable indicator of future returns per FMA fair-dealing guidance. Request audited financial statements covering the full operating period before subscribing.
Where can I read the IM or PDS for Punakaiki Fund?
Punakaiki Fund is a wholesale-only fund and the manager does not publish a retail-accessible Information Memorandum on Wholesale Investor NZ. Wholesale-only funds typically share the IM directly with prospective investors after a Schedule 1 self-certification under the Financial Markets Conduct Act 2013. Contact the manager to request the IM and the certification process.