NetFunds
Fund Manager based in Auckland, New Zealand
Key Facts
- Provider type
- Fund Manager
- Headquarters
- Auckland, New Zealand
- Established
- 2020 (5 yrs)
- AIP status
- Approved
- Open offers
- 1 open / 1 total
- Funds listed
- 1
- Website
- netfunds.co.nz
About NetFunds
NetFunds is a New Zealand-based alternative asset investment platform built for active participation in private credit, private equity, and commercial property. The platform's flagship fund, NetCredit Unit Trust, finances New Zealand SMEs through diversified secured loans. The fund is PIE and PFIC compliant, providing tax-efficient access for both domestic and international investors. NetFunds also operates NetEquity (private equity) and commercial property investment divisions. Founded by experienced commercial property investor and fund manager Michael Karabassis, who has personally completed over 200 property transactions throughout his career. Based in Auckland.
Location
Auckland, New Zealand
Established
2020
5 years track record
AIP Approved
Eligible for Active Investor Plus visa
Funds Managed (1)
Investment Opportunities(1)
Key People (3)
Hamish Blackman
Director - NetEquity
Investment Team
Leads Net Equity, private equity investment division. Specializes in connecting investors to exclusive, high-growth opportunities in NZ and internationally.
Dave Armstrong
Director - NetCredit
Investment Team
Leads private credit offering. Institutional experience in credit analysis, lending structures, and borrower onboarding. Ensures strict risk and return criteria.
Michael Karabassis
Managing Director
Leadership
Managing Director of NetFunds and highly experienced commercial property investor, fund manager, and former financial adviser with over 15 years of hands-on experience managing and deploying capital. Has personally completed more than 200 property transactions and advised clients on thousands more. Leads strategy, capital formation, and investor engagement across the NetFunds platform — spanning commercial property, private credit, and strategic equity.
15 years of experience
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Frequently Asked Questions
How do I verify a provider is legitimate and trustworthy?
Conduct thorough due diligence before investing with any provider: (1) Check FMA Register - Verify the provider is licensed or registered with the Financial Markets Authority (www.fma.govt.nz/compliance/entities), (2) Review track record - Research past fund performance, years in operation, total funds under management, (3) Check key personnel - Research investment team backgrounds, LinkedIn profiles, previous roles and experience, (4) Request references - Ask to speak with existing investors or portfolio companies, (5) Review documentation - Read Information Memoranda, trust deeds, audited financial statements thoroughly, (6) Understand fee structures - Ensure fees are clear, reasonable, and aligned with industry norms, (7) Check for red flags - Promises of guaranteed returns, pressure to invest quickly, unlicensed operators, lack of transparency. All providers on Wholesale Investor NZ are pre-screened for legitimacy, but always conduct your own due diligence.
What questions should I ask a fund manager before investing?
Ask fund managers these critical questions: Investment Strategy - What is your investment thesis? How do you source deals? What's your competitive advantage? Track Record - What returns have you achieved historically (gross and net)? What percentage of investments succeeded vs failed? Can I speak with investors in prior funds? Team - Who makes investment decisions? What's their background? Have there been recent departures? How is the team compensated? Risk Management - What was your worst investment and what did you learn? How do you handle conflicts of interest? What's your downside protection? Fees - Explain management fees, performance fees, and all other costs? What's the hurdle rate? Process - What's the investment committee process? How often do you report? What voting rights do I have? Exit - What's the expected timeline to liquidity? Have you returned capital to investors before? Get answers in writing and verify claims independently.
What is the difference between a fund manager and a platform?
Fund Managers directly manage pooled investment capital, making investment decisions, conducting due diligence, managing portfolio companies/assets, charging management and performance fees, and carrying fiduciary duty to investors. Examples include private equity firms, credit fund managers, property developers. Platforms provide infrastructure for accessing multiple investment opportunities, do not make direct investment decisions (investors choose from offerings), may conduct initial due diligence on providers, charge platform fees or take commissions from providers, and offer comparison and research tools. Examples include investment platforms, crowdfunding sites, syndication platforms. Some hybrid models exist - platforms with house funds. When investing via platforms, you still need to evaluate the underlying fund manager's capabilities, track record, and terms as if investing directly.