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Nuance Connected Capital is a deep-tech investment fund based in Auckland, New Zealand, founded in 2021. It is recognized as New Zealand's first dedicated deep tech VC fund, created to support Kiwi entrepreneurs by providing capital and resources to help them succeed in global markets. The fund focuses on commercializing deep-tech innovations that aim to improve the planet and enhance the quality of life.
As of now, Nuance Connected Capital manages a fund size of NZD $55 million, with cornerstone investments from the New Zealand Government Co-investment Programme (NZGCP) and Alvarium Investments. The firm has a portfolio of 10 companies and primarily invests in Series A and Series B stages, with a smaller allocation for seed investments. The firm operates from two office locations in Auckland, including a registered office at PwC Tower.
Nuance Connected Capital's mission is to connect exceptional New Zealand entrepreneurs with global resources, market access, and industry channels to help them scale internationally. The firm has made significant strides in expanding its portfolio, focusing on deep-tech innovations that address pressing global challenges.
Nuance Connected Capital invests primarily in deep-tech sectors, including advanced engineering, science, intellectual property, blockchain, and deep artificial intelligence. The fund targets investments in Series A and Series B stages, with a smaller allocation for seed investments, focusing on solutions that tackle global challenges. Their investment thesis emphasizes supporting Kiwi entrepreneurs by investing in innovations that improve quality of life and address significant global issues.
The firm seeks to partner with startups that demonstrate a strong potential for growth and scalability. Nuance Connected Capital values founders who are committed to solving pressing problems through technology and innovation. The fund's deal structure typically involves equity investments, and they are open to co-investing with other venture capital firms to maximize the impact of their investments.
Nuance Connected Capital's portfolio includes a diverse range of companies that exemplify its focus on deep-tech innovations. Notable portfolio companies include:
These companies reflect Nuance Connected Capital's commitment to investing in technologies that enhance quality of life and address global challenges.
Ngaio Merrick: Managing Partner. Ngaio previously managed the investment portfolio for Sir David Levene and founded Nuance to address the challenges faced by New Zealand startups in accessing global beta customers and distribution.
Mitali Purohit: General Partner. Mitali led the $150 million Technology Incubator Programme at Callaghan Innovation and previously established the ArcAngels Fund at Icehouse Ventures.
Adrien Gheur: Co-Founder. Adrien is also a Co-Founder of Maloekoe Ventures and has experience at Goldman Sachs. He is an Edmund Hillary Fellow.
Nathan Bryant-Taukiri: Angel investor and tech recruitment leader, Nathan is a growth strategist and advisor with a focus on technology startups.
Matthew White: Financial Strategist. Matthew has a background in financial and investment management, with experience in both New Zealand and international fund management and M&A.
To pitch Nuance Connected Capital, founders should use the contact email info@nuance.vc or submit their pitch through the website at nuance.vc. The pitch deck should include a clear overview of the business, market analysis, and details on how the startup addresses significant global challenges. Founders are encouraged to provide information on their team and any traction achieved to date.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, as they can facilitate a more favorable review of the pitch.
In 2025, Nuance Connected Capital achieved notable exits with the acquisition of two portfolio companies: Quantifi Photonics by Teradyne and Easy Crypto by Swyftx. These acquisitions highlight the firm's successful investment strategy in the deep-tech sector.
Additionally, the firm continues to expand its portfolio, actively seeking new investments in deep-tech innovations that address global challenges. Their commitment to enhancing quality of life through technology remains a central focus.
What are Nuance Connected Capital's investment criteria?
Nuance Connected Capital primarily invests in deep-tech sectors, focusing on advanced engineering, science, intellectual property, blockchain, and deep artificial intelligence. They target Series A and Series B stages, with a smaller allocation for seed investments.
How can I pitch to Nuance Connected Capital?
Founders can pitch to Nuance Connected Capital through their website at nuance.vc. It is recommended to include a clear business model, market analysis, and details on how the startup addresses global challenges in the pitch deck.
What makes Nuance Connected Capital different from other VCs?
Nuance Connected Capital is New Zealand's first dedicated deep-tech VC fund, focusing on connecting Kiwi entrepreneurs with global resources and market access. Their emphasis on deep-tech innovations sets them apart in the investment landscape.
What is the geographic scope of Nuance Connected Capital's investments?
The firm primarily invests in startups based in New Zealand, particularly those that demonstrate potential for international scalability.
What kind of support do portfolio companies receive?
Nuance Connected Capital provides access to global resources, market channels, and industry expertise, helping portfolio companies scale effectively in international markets.
What is the typical check size for investments?
While specific check sizes are not disclosed, Nuance Connected Capital focuses on Series A and Series B investments, indicating a range that aligns with these stages.
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