Generate puts $20m into new Icehouse Ventures fund

Generate chief investment officer Sam Goldwater says, Generate was attracted by the unique deal flow and insights of Growth Fund II as a result of Icehouse Ventures’ investments in >300 early-stage startups.

“Having these kinds of relationships, built over time and successive investments, gives Icehouse Ventures privileged access to new deals coming through, which should enhance returns for our KiwiSaver and managed fund customers.”
Icehouse Ventures is New Zealand’s most active Venture Capital group according to the 2023 Technology Investment Network Report. It has invested in approximately half of all early stage technology startups funded in New Zealand over the last six years.

Robbie Paul, CEO of Icehouse Ventures, says Generate’s backing signals the KiwiSaver provider’s evolution into an institutional-grade fund manager.

“Sam and the Generate team have watched us closely since the launch of our first Growth Fund in 2020. A $20m cornerstone investment in Growth Fund II is a wonderful endorsement coming from an investor that serves almost 130,000 Kiwis,” says Paul.