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Movac is New Zealand's most experienced technology venture capital firm, founded in 1998. The firm is headquartered in Wellington, with additional offices in Auckland. Movac has deployed over $150 million into New Zealand tech companies across multiple funds, including its largest fund, Fund 5, which raised between $200 million and $250 million, and its latest Growth Fund 6, which totals $202 million.
Movac's investment strategy emphasizes supporting technology companies at various stages, from pre-seed to Series C. The firm has a strong focus on exceptional teams addressing significant problems in large markets. Notable milestones include successful exits such as PowerbyProxi, Trade Me, and GreenButton, showcasing Movac's impact on the New Zealand tech ecosystem.
Movac invests in technology companies across several stages, including pre-seed, seed, seed+, Series A, Series B, and Series C. The firm primarily focuses on sectors such as healthcare, fintech, biotech, and SaaS. Movac seeks exceptional teams with domain expertise and a defensible competitive advantage, ensuring that their portfolio companies are well-positioned for growth and scalability.
The firm emphasizes investments in companies that demonstrate significant scalability potential and global ambitions. Movac's investment criteria include a strong team, a clear market need, and the ability to address substantial problems. This approach allows Movac to identify and support companies that are likely to succeed in competitive markets.
Movac's portfolio includes 12 companies, showcasing a diverse range of technology investments. Notable current portfolio companies include:
Movac has also achieved notable exits, including:
Phil McCaw - Founding Partner. Phil has over 20 years of experience in New Zealand tech investing and was an early investor in Trade Me and PowerbyProxi. He serves on the board of Aroa Biosurgery.
David Beard - Partner. David brings extensive experience in venture capital and has been instrumental in Movac's investment strategy.
Mark Stuart - Partner. Mark has a strong background in technology investments and contributes to the firm's operational support initiatives.
Mark Vivian - Partner. Mark has a wealth of experience in the tech sector and plays a key role in identifying promising investment opportunities.
Fiona Foster - Partner. Fiona specializes in operational support and strategic guidance for portfolio companies.
Tania Gregory - Finance Manager. Tania oversees financial operations and reporting for Movac.
Byron Van Vugt - Senior Investment Manager. Byron focuses on sourcing and managing investments within the portfolio.
Millie McKelvie - Investment Manager. Millie assists in evaluating potential investments and supporting portfolio companies.
Nathan Bell - Senior Investment Analyst. Nathan conducts market research and analysis to inform investment decisions.
Sabrine Van Rossum - Senior Investment Analyst. Sabrine supports the investment team with data analysis and due diligence.
Selena Chhit - Fund Accountant & Assistant Compliance Officer. Selena manages fund accounting and compliance activities.
Emelie Verseput - Community Manager. Emelie engages with the startup community and supports portfolio companies.
To pitch Movac, startups should prepare a comprehensive deck that includes an overview of the business model, market opportunity, competitive landscape, and team qualifications. Founders can submit their pitches through Movac's website or connect with team members on LinkedIn for a more personalized approach. Response times may vary, but founders should expect a thorough review process.
In March 2023, Movac announced the successful closing of its Growth Fund 6, raising $202 million to support technology companies with at least $2 million in product revenue. This fund aims to help companies scale globally.
In May 2022, Movac celebrated the exit of PowerbyProxi, a wireless power technology company, which was acquired by Apple. This marked a significant milestone in Movac's investment history.
Movac has also been recognized for its role in the New Zealand tech ecosystem, with partnerships involving key institutional investors such as the NZ Super Fund and Fisher Funds, enhancing its credibility and reach.
What are Movac's investment criteria?
Movac invests in technology companies at various stages, focusing on teams with domain expertise and a defensible competitive advantage. They prioritize scalability and significant market potential.
How can startups apply or pitch to Movac?
Startups can reach out through Movac's investment process, typically via their website or by connecting with team members on LinkedIn. A well-prepared pitch deck that outlines the business model, market opportunity, and team qualifications is essential.
What makes Movac different from other venture capital firms?
Movac's extensive experience in the New Zealand tech ecosystem, combined with their operational support and strategic guidance, sets them apart. They have a proven track record of successful exits and a strong network within the industry.
What is Movac's geographic focus?
Movac primarily invests in New Zealand technology companies but supports those with global scaling ambitions. Their deep integration in the local market allows them to provide tailored assistance.
What is the typical check size for Movac's investments?
Movac invests across various stages, with check sizes varying depending on the stage of the company. They focus on providing sufficient capital to support growth and scalability.
What kind of post-investment involvement does Movac have?
Movac provides operational support, strategic guidance, and access to their extensive network to help portfolio companies scale effectively. They often take board positions to ensure alignment and support.
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