NetFunds
Fund Manager based in Auckland, New Zealand
Key Facts
- Provider type
- Fund Manager
- Headquarters
- Auckland, New Zealand
- Established
- 2020 (5 yrs)
- NZBN
- 9429052281471 ↗
- AIP status
- Approved
- Open offers
- 1 open / 1 total
- Funds listed
- 2
- Website
- netfunds.co.nz
Last reviewed: 12 July 2026
About NetFunds
NetFunds is a New Zealand-based alternative asset investment manager built for active participation in private credit, private equity and commercial property. Founded by Michael Karabassis — an experienced commercial property investor and fund manager who has personally completed over 200 property transactions — the Auckland firm operates lending, private equity and property divisions and holds NZBN 9429052281471. Two NetFunds vehicles are listed on Wholesale Investor. The NetCredit Unit Trust, the firm's flagship private credit fund, finances New Zealand SMEs through diversified secured loans with three-year average maturities; it is structured as a PIE unit trust, under which tax on attributed income is capped at the 28% PIE rate for eligible investors. The NetEquity Opportunities Fund LP provides access to New Zealand private equity through a blend of fund-of-funds allocations and direct investment into SME companies, with a NZ$100,000 minimum for wholesale investors. Directors recorded in this directory include Dave Armstrong (NetCredit) and Hamish Blackman (NetEquity), alongside managing director Michael Karabassis. Both funds appear on the NZTE Acceptable Managed Funds list for the Active Investor Plus (AIP) visa — NetCredit Unit Trust added 26 September 2025 and NetEquity Opportunities Fund LP added 10 November 2025 (list dated 15 June 2026) — and are recorded here under the AIP Growth category, which under current settings requires a NZ$5 million investment over 36 months. Offers of interests in both funds are made to wholesale investors under the Financial Markets Conduct Act 2013 (Schedule 1) via the manager's own offer documents.
Location
Auckland, New Zealand
Established
2020
5 years track record
AIP Approved
Eligible for Active Investor Plus visa
Funds Managed (2)
NetCredit Unit Trust
Private credit financing NZ SMEs with 3-year average maturities targeting RBNZ +7% p.a.
NetEquity Opportunities Fund LP
Private equity fund providing multiple access points to NZ private equity via a blend of fund-of-fund and high-conviction direct investment into SME companies. NZ$100,000 minimum (FMCA wholesale). Manager: NetFunds. AIP Growth Category (NZTE 2025-11-10).
Open Funds & Active Offers(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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Quick Info
Frequently Asked Questions
What is NetFunds?
NetFunds is a New Zealand-based alternative asset investment manager built for active participation in private credit, private equity and commercial property. Founded by Michael Karabassis — an experienced commercial property investor and fund manager who has personally completed over 200 property transactions — the Auckland firm operates lending, private equity and property divisions and holds NZBN 9429052281471. Two NetFunds vehicles are listed on Wholesale Investor. The NetCredit Unit Trust, the firm's flagship private credit fund, finances New Zealand SMEs through diversified secured loans with three-year average maturities; it is structured as a PIE unit trust, under which tax on attributed income is capped at the 28% PIE rate for eligible investors. The NetEquity Opportunities Fund LP provides access to New Zealand private equity through a blend of fund-of-funds allocations and direct investment into SME companies, with a NZ$100,000 minimum for wholesale investors. Directors recorded in this directory include Dave Armstrong (NetCredit) and Hamish Blackman (NetEquity), alongside managing director Michael Karabassis. Both funds appear on the NZTE Acceptable Managed Funds list for the Active Investor Plus (AIP) visa — NetCredit Unit Trust added 26 September 2025 and NetEquity Opportunities Fund LP added 10 November 2025 (list dated 15 June 2026) — and are recorded here under the AIP Growth category, which under current settings requires a NZ$5 million investment over 36 months. Offers of interests in both funds are made to wholesale investors under the Financial Markets Conduct Act 2013 (Schedule 1) via the manager's own offer documents.
Where is NetFunds based?
NetFunds is based in Auckland, New Zealand. New Zealand-domiciled funds are subject to the Financial Markets Conduct Act 2013 (FMCA) and oversight by the Financial Markets Authority (FMA).
Is NetFunds registered with the FMA?
NetFunds is holds NZBN 9429052281471. FSPR registration is a legal requirement for entities providing financial services in New Zealand and does not itself constitute an endorsement. Verify current standing at the FSP register before investing.
How long has NetFunds been operating?
NetFunds was established in 2020 and has a 5-year track record. Past performance and operational history are not reliable indicators of future returns — review the fund's Information Memorandum and audited financial statements before investing.
What funds does NetFunds manage?
NetFunds currently lists 2 funds on Wholesale Investor NZ. 2 funds are flagged as Active Investor Plus (AIP) visa eligible per NZTE's Acceptable Managed Funds criteria.
What is the minimum investment in NetFunds's funds?
Minimum investments across NetFunds'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 offer's Information Memorandum. Wholesale-only offers also require self-certification under FMCA Schedule 1 before subscription.
Are NetFunds's funds eligible for the Active Investor Plus (AIP) visa?
NetFunds is flagged as AIP-approved on Wholesale Investor NZ, with 2 funds carrying the NZTE-pre-approved AIP eligibility marker. AIP visa applicants must invest at least NZ$5 million in Growth Category investments held for 36 months (or NZ$10 million Balanced held for 60 months) per Immigration New Zealand's current rules. Eligibility determination sits with NZTE + Immigration NZ — confirm against the live NZTE Acceptable Managed Funds list before relying on this classification.