Sources: 
Outset, an Auckland-based venture firm and incubator known for spinning out unicorns like Rocket Lab and LanzaTech, has successfully closed its second fund at an oversubscribed $41.5 million NZD.
The fund aims to back startups focused on hard science and engineering breakthroughs, particularly in sectors such as aerospace, medical technology, and energy generation and storage.
"The firm’s mission is to back startups working on hard science and engineering breakthroughs — technologies its partners believe in," highlighting the strategic focus on deep tech innovation.
Despite the fund's $25 million sounding modest by Silicon Valley standards, Outset's managing partner Blair emphasizes its appropriateness for New Zealand’s smaller, tight-knit ecosystem.
"While the fund’s $25 million might sound modest by Silicon Valley standards, Blair says it’s well-sized for New Zealand’s tight-knit ecosystem."Among the portfolio companies are OpenStar and EnergyBank, which exemplify the kind of ambitious, moonshot projects Outset aims to scale globally.
This fund represents a significant boost to New Zealand’s deep tech ambitions, providing critical capital to startups working on transformative technologies with global potential.
Outset’s approach reflects a growing trend in venture capital to support deep tech ventures that require longer development timelines but promise substantial impact.
The successful oversubscription of the fund underscores strong investor confidence in New Zealand’s emerging deep tech sector and Outset’s ability to identify and nurture breakthrough innovations.
Sources: Outset, an Auckland-based venture firm, has closed an oversubscribed $41.5 million NZD fund to support New Zealand deep tech startups. The fund targets hard science and engineering breakthroughs, focusing on sectors like energy generation, aerospace, and medical technology, aiming to scale innovations globally.
