About Powerhouse Ventures

powerHouse is a Canterbury-based investment group that invests in early-stage research-led ventures.

Our approach is to combine the professional management of a venture capital firm with a proven business incubation programme, supported by the networks and expertise of a growing investor group.

When operating the Canterbury Innovation Incubator, founded in 2001, we recognised that early-stage technology businesses require more than premises, services and advice to achieve their goals. There is a clear need for committed and ongoing investment to build profitability and drive international growth in a segment of the marketplace in which there is little meaningful venture capital activity in New Zealand. To ensure that such investment is managed effectively from the perspectives of both investors and investee companies, powerHouse was established to add fund management expertise to existing, proven incubator management services.

powerHouse invests in promising, technology-focused, customer-driven companies using managed funds and syndicated investment. These companies are created to commercialise ventures sourced from the leading generators of innovation in Canterbury - the universities and research institutes - as well as from the private sector. powerHouse manages all aspects of the investment process - sourcing and screening opportunities, negotiating and structuring investment deals, monitoring and managing the portfolio, through to the realisation of the investment.

The powerHouse team is highly experienced in venture management and has a long track record of successfully growing new technology ventures. Investee Companies are provided with close, hands-on support and those companies also benefit from the wealth of expertise that is accessed through powerHouse’s investor group members and their networks.

Prospective investors can be involved with powerHouse in two ways. The first is through subscription to powerHouse’s managed funds, which are usually raised annually. Secondly, those members of the funds can participate more actively in personally selected deals, committing additional funds and possibly taking advisory roles in those investee companies and/or by taking a co-investor role. The investments made available by powerHouse are not open to the public and are only open to “eligible persons” as defined in the Securities Act 1978 (“Act”)

powerHouse History – from Incubator to Investment Group

  • The powerHouse model emerged from our experience having built the Canterbury Innovation Incubator (Cii) into an award-winning business incubator known for commercialising intellectual property (IP).
  • Powerhouse Ventures Limited (PVL) was incorporated in 2006 with extensive and ongoing support from New Zealand Trade and Enterprise (NZTE) and the Christchurch business community. PVL is the General Partner of the pH funds.
  • Also in 2006, PVL became the first accredited partner of the New Zealand Venture Investment Fund’s (NZVIF) Seed Co-investment Fund (SCIF). Being a SCIF partner allows private funds raised by powerHouse to be matched by Government resources. SCIF funds are invested on the same terms as powerHouse funds.
  • In 2007, to complement the incubator facilities, powerHouse developed an investment model to address the needs of early-stage investing in the local environment. This model uses managed funds, sourced from institutional and private investors, to lead investments. The managed funds are supplemented by co-investment funds from corporate, institutional and private sources. The powerHouse co-investment model allows managed funds of relatively modest size to drive much larger investment programmes.
  • In early 2008, to secure preferential access to deals, PVL formalised partnerships with two universities - Lincoln University and University of Canterbury. In support of these partnerships, incubator facilities were set up on both university campuses. These facilities bring the total number of incubators under PVL management to three, although at the time of writing its city premises have been closed as a result of recent earthquakes.
  • In October 2008, powerHouse’s first fund (pH No.1 LP) closed. This fund has been invested with the balance of funds allocated for second-round, follow-on funding.
  • In 2009, the second fund (pH No.2 LP) closed.
  • Also in 2009, PVL was appointed to manage substantial funds on behalf of the Canterbury Economic Development Fund, CEDF.
  • powerHouse has won several international awards for its work in science-based incubation, and developing entrepreneurship in students.

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