NZ’s longest-running deep tech VC targeting $35-40 million to tackle the world’s biggest problems through Kiwi scientific innovation
Auckland, New Zealand, 14 May 2025 – WNT Ventures, New Zealand’s longest-running deep tech incubator and venture capital firm focused on early-stage, science-backed companies, has announced the launch of its latest and largest fund, Fund 4, targeting $35-40 million to expand its investment pool. This milestone represents WNT’s ongoing commitment to supporting and developing NZ’s innovation potential and driving long-term, world-changing impact through technology, science and engineering advancements.
“Announcing Fund 4 is a milestone moment that represents our belief in New Zealand’s potential as a leader in innovation,” says Carl Jones, Managing Partner at WNT Ventures. “Our team is deeply invested in breakthrough technology, and Fund 4 will enable us to increase our investment in a new generation of Kiwi founders and companies tackling some of the biggest real-world challenges.”
“WNT is known for its deep sector experience, reflected in the investor confidence in our strong track record of returning liquidity,” continues Maria Jose Alvarez, Managing Partner at WNT Ventures. “Our commitment to supporting and developing world-changing companies resonates with our investors, and we welcome their continued support in Fund 4.”
With over a decade of focused nationwide investment in sectors including agritech, foodtech, cleantech, marine sciences, software, hardware, engineering, robotics, materials, and medical devices and tools, WNT is at the forefront of the country’s evolving innovation landscape.
Proud to be a high-conviction partner that builds true partnerships with portfolio company founders, WNT provides crucial resources, expertise, and access to global networks to help Pre-Seed and Series A companies to construct their vision and achieve global commercial success.
As fund raising continues, WNT has welcomed strong domestic and international support, with Active Investor Plus investors and new institutional investor commitments, and offshore investors currently making up 27% of the fund.
WNT has a strong track record of returning liquidity to its Limited Partners, returning investors’ funds back every year for the last six years, and with Fund 1 and Fund 2 returns in the top quartile on a global basis. Most notably, this includes fully returning investor commitments in Fund 1, with remaining portfolio companies continuing on a growth trajectory.
Moreover, WNT’s long-standing partnerships with investors have deepened over time, with many of their earliest supporters increasing their commitments across multiple investment cycles. This includes 78% of Fund 1 investors reinvesting in Fund 2, and 85% coming from Fund 2 to Fund 3.
The first investment from WNT’s Fund 4 is climate-focused company with global ambitions Captivate Technology, revolutionising carbon capture with its game-changing and cost-effective technology for sieving carbon dioxide from emission streams.
About Carl Jones
Carl Jones is a Managing Partner at WNT Ventures, joining as CEO in 2014 and becoming Managing Partner in 2020. With extensive experience in private equity, property, and investment management in London and New Zealand, Carl directs WNT’s fund activities and is the lead investor for most Fund 1 and 2 companies including Mint Innovation, Foundry Lab, Mastaplex, and CarbonCrop. He is passionate about helping Kiwi founders find their way and fostering the growth of deep tech startups in New Zealand.
About Maria Jose Alvarez
Maria Jose Alvarez is a Managing Partner at WNT Ventures, having first joined as an Investment Manager in 2021. As the only Chilean/Latin American managing partner in Australia and New Zealand, MJ brings over a decade of experience in innovation, investment, and entrepreneurship. Her background includes a degree in Biotechnology Engineering and a Master's in BioScience Enterprise. MJ has been recognised as one of the University of Auckland's 40 Under 40 Entrepreneurs (2023) and awarded Investor of the Year by the Global Entrepreneurship Network. She is a passionate advocate for underrepresented founders and closing the gender gap in the deep tech ecosystem, with over 50% of WNT’s Fund 3 portfolio companies female-founded or led.
About WNT Ventures
As NZ’s longest running deep tech VC fund, WNT Ventures are specialist generalists, with a deep tech specialty. As a high-conviction partner investing nationwide and incubating science-backed Pre-Seed and Series A companies, WNT builds true relationships with founders by providing resources, experiences and access to networks that help them to commercialise globally. With over a decade of experience, WNT is at the forefront as NZ undergoes another period of change, with a renewed focus on commercialising science and innovation, restructuring public institutions to drive commercial outcomes, and aligning incentives to support deep tech growth. Curious to partner with companies driving world-changing advancements in climate and human sustainability, manufacturing, space exploration, human and animal wellbeing, and everyday technology, WNT’s portfolio spans advanced manufacturing, medical technology, climate tech, recycling, AI, aerospace, agri-tech, sensing, and automation. Current portfolio companies include TDRI, Foundry Lab, and Marama Labs.
