PU Venture Fund 1

Previously Unavailable Venture Funds are a Sequential Fund Series providing investors the opportunity to invest alongside PU in the high-potential early-stage ventures we choose to work with and invest in during each fund's season.

PU Venture Fund 1 - the first of these venture portfolios represents PU's investment opportunities through to 31 March 2023.

PU Venture Fund 1

Previously Unavailable Venture Fund 1 is now fully invested, but remains open to new investors in the PIE. Please get in touch if you are interested in the opportunity to invest in this portfolio.

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Invest alongside Previously Unavailable as we create the future:

AF Drinks

Making the drink for when you aren't drinking.

Ideally

The research platform purpose built for innovation and creativity.

Tracksuit

Creating a new common language for brand

About Previously Unavailable Venture Funds

Previously Unavailable Venture Funds give investors the opportunity to co-invest alongside PU in a curated portfolio of early-stage ventures — companies we don't just back, but actively build with.

Each PIE fund runs as a discrete vintage, deploying capital over a 12–18 month window before closing to net-new investments.

Funds remain semi-open to new investors and capital, enabling additional liquidity, capacity for follow-on investments, and to provide opportunities for new investors to gain access into otherwise closed investment rounds.

PUVF1 represents our first portfolio vintage, with an investment period closing 31 March 2023.

Current PUVF1 Investments

Accelerating first-home buyers to their deposit, faster.

Aera offer a range of headstarts and incentives to get people to their deposit and homeownership at life-changing pace.

Making the drink for when you aren’t drinking.

AF Drinks are leading the non-alcoholic cocktail in a can movement, with incredible ranging in Walmart, Target and across Australasia.

Delivering behaviour-based food brand insights through an engaged community.

Appetise helps food-lovers choose recipes to plan their meals and simply shop online or in-store. From this community innovative food brands gain trends, understanding and insights to grow brands shoppers love.

The smart electrical panel that saves money and keeps you safe.

A world-leading smart panel that monitors your energy in real-time, alerts you to electrical faults before they become disasters, and puts over $1,500 back in your pocket every year.

The venture fund that backs companies where brand defines the winner.

Brand Fund 1 is a partnership between Previously Unavailable and Icehouse Ventures, built on a single conviction: in the right company, brand isn't a cost - it's the compounding advantage that separates category leaders from the rest.

The platform that turns employee wellbeing into data you can act on.

Most organisations guess at employee wellbeing, chnnl measures it. Built on clinical research by Dr. Elizabeth Berryman, chnnl gives leaders a connected system to listen to their teams, manage wellbeing resources, and report on psychological safety, all in one place.

Super effective cleaners and soaps - Safer for you & better for the planet.

Cleanery reinvented household cleaning from the ground up. Powerful plant and mineral-based formulas, delivered as a powder sachet you mix with water in a reusable bottle. More effective, better for the planet, and cheaper too.

The all-in-one platform powering the people who power your sport.

CoachMate gives sports organisations the tools to engage coaches, volunteers, schools and communities. From practice plans and skill-building challenges to real-time analytics, it's purpose-built for sport and trusted by national bodies.

World-leading home compostable kitchen convenience.

The world’s first home compostable cling-wrap and now full range of kitchen non-plastic fantastic options. Leading their category in Wholefoods and Target, US wide.

The furniture platform that makes custom design simple and affordable.

Consilio lets you design furniture entirely to your specifications - dimensions, configuration, materials, colour, finish - then see your creation in real-time with live pricing. From confirmed order to in-home delivery in just 3–5 weeks. Custom furniture, finally without the custom-furniture headache.

The Employee Experience Design programme transforming how HR teams work.

Excellent equips HR teams with design thinking skills to move beyond best practice and create tailored employee experiences that drive real business impact. Trusted by leaders at Uber, Patagonia, Deloitte and Sharesies - it's the world's leading EX Design programme.

New Zealand's leading venture capital firm backing Kiwi founders globally.

Since 2003, Icehouse Ventures has invested over $600 million into 350+ New Zealand-founded companies - from pre-seed to pre-IPO. They back exceptional founders with global ambition, and give investors access to the companies building Aotearoa's most exciting future.

The rapid research platform that helps  grow great ideas with confidence.

Traditional testing is binary. Win or lose. Go or no-go. It happens at the end, when it's too late to change anything meaningful. Ideally is different. It sits inside the creative process, not after it. Teams use it to explore, iterate, and create with their customers at every stage. The result is bolder work, built on real human understanding, that performs when it gets to market.

The wearable that shows you exactly when to do your best work.

Pylot tracks your brain wave activity and heart rate variability in real time, measuring your mental flow and fatigue as you work. So instead of guessing, you know precisely when to attack deep work - and when to take a break.

Radically affordable, beautiful, always on brand-tracking.

Tracksuit are changing how consumer brands work worldwide. Tracksuit gives marketers always-on visibility into brand health - awareness, consideration, usage and preference, benchmarked against competitors in a beautiful dashboard. Trusted by 1,000+ brands globally, it turns brand data into boardroom-ready proof.

The slow-dried veggie mince made from real New Zealand vegetables.

Vince packs over 500g of real NZ-grown vegetables into every bag — slow-dried, no preservatives, no nasties. Just add boiling water for a quick, healthy meal in minutes. Perfect for busy families, trampers, and anyone who wants to eat more vegetables without the effort.

The social media management platform that tells you what actually works

Zavy gives brands and agencies an all-in-one platform to publish, benchmark, report, and uncover AI-powered strategic insights - including competitor intelligence. Trusted by Fonterra, Westpac, Air New Zealand and more, it turns social media data into decisions that drive real results.

We love to meet and work with ambitious and interesting founders

If you’re part of a high-growth company where brand will be a defining part of your success we’d love to hear from you.

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PU Venture Funds 2 & 3

PU Venture Funds 2 & 3 are also both open for investment. Please get in touch to enquire about the opportunity to invest.

Investment committee
Chris Paykel
Co-CEO, Previously Unavailable, and Director of PUVF1
Chris is Co-CEO of Previously Unavailable, leading the commercial and operational functions. In his 10+ years at PU, Chris lead many of the largest innovation and venture building projects. He's also established PU's venture studios partnerships, including New+Improved Ventures, where he focuses on early problem & product discovery, prototyping and venture establishment. With 20+ years across engineering, management consulting, M&A, Innovation consulting, and venture building, Chris has a particular eye for the technical and commercial fundamentals that separate good ventures from great ones.
Simon Pound
Co-CEO, Previously Unavailable, and Director of PUVF1
Simon is an expert in technology company brand marketing. Prior to joining Previously in 2018, Simon led global brand for Vend, who went on to exit for $500M. With Previously he led the rebranding of Timely, who went on to exit for over $100M. Simon has attracted and led the thinking on many of Previously's portfolio companies. He's also the host of the popular entrepreneur-focused Business is Boring podcast for The Spinoff. Few people have as much insight into the New Zealand start-up community and its successes and learnings as Simon.
James Hurman
CHairman, previously unavailable, and Director of PUVF1
James founded Previously in 2014 after a career in advertising, during which he was named the world's #1 advertising strategist. He is a globally recognized expert in brand strategy and marketing effectiveness, and has brought those skills to bear on dozens of New Zealand startup companies that he has co-founded or advised. He is the author of Future Demand: Why building your brand among tomorrow's customers is the kev to start-up success - a book that has been quickly embraced b the global VC and start-up community.
Barnaby Marshall
Partner at Icehouse Ventures
Connor joined Previously in 2020 following a career as a corporate lawyer, then ops leader for globally successful kiwi start-ups Mish Guru and noissue. After running the MVP launch of Tracksuit, he was seconded to be co-CEO of the company. Under his leadership Tracksuit grew to $3.2M in ARR in under 24 months, and has completed one of the most hotly contested VC rounds in recent years. Connor brings unique insight into the commercial and operational aspects of the start-up companies we work with.
PU Venture Funds: Investor Experience
Information
Investors receive immersive quarterly reports which provide commentary on portfolio companies and key fund metrics, alongside all key company updated received and recent PR.
INVESTOR PORTAL
Investors receive access to an industry leading Investor Portal where they can access granular information and data on portfolio companies, export statements, review company updates and legal docs, and benchmark their portfolio performance against industry averages.
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Important Notice and Disclaimer
This is a private investment opportunity, where participation will be limited to investors who are "wholesale investors" as defined by, or otherwise not required to receive disclosure under Part 3 of, the Financial Markets Conduct Act 2013. Participation in the fund is at the sole discretion of the management of Previously Unavailable Venture Fund 1 Limited. This document has been prepared and is issued by Previously Unavailable Venture Fund 1 Limited for distribution in New Zealand to selected prospective investors only. By retaining this document you acknowledge and represent that you are a "wholesale investor" as defined by, or otherwise qualified to invest under, the Financial Markets Conduct Act 2013. This document has been compiled solely for information purposes to assist prospective investors to make their own evaluation of Previously Unavailable Venture Fund 1, and any subsequent decision to invest in the Fund. The information contained in this document is not comprehensive and is selective. This document does not contain all of the information that a prospective investor may require to evaluate a decision to invest in Previously Unavailable Venture Fund 1 and the risks associated with that investment. In making a decision to invest, prospective investors must rely on their own examination of the information contained in this document as well as such other information as they may consider relevant. Nothing in this document constitutes legal, tax or financial advice. Prospective investors should seek their own professional advice on the consequences of investing in the Fund. No representation is made that any further information will be given, other than as required by law. This document may contain projections, forecasts or other statements or estimates regarding the future prospects or performance of the Fund. Any forward-looking statements are provided for informational purposes and reflect certain assumptions. Actual results may vary. No assurance or representation is made by any person that any projection, forecast or target will be achieved. Accordingly any reliance placed by any prospective investor upon them is a matter for its own commercial judgment. Exclusion of Liability None of Previously Unavailable Limited, Previously Unavailable Venture Fund 1 Limited. nor any of their respective shareholders, directors, officers, agents, employees or advisers: gives, or has the authority to give, any representation or warranty (express or implied) as to the accuracy, reliability, adequacy or completeness of the information contained in this document, or any other written or oral information made or to be made available to an prospective investor or its advisers (together Information); has independently verified any of the Information contained in this document; will be responsible for an costs incurred by the recipients of this document in connection with the evaluation of the investment opportunity described in this document; takes any responsibility for, or will accept any liability in respect of, the accuracy, reliability, adequacy or completeness of the Information or for any of the statements or opinions, or for any errors. omissions or misstatements, contained in the Information; and without limitation, gives any representation or warranty as to an of the statements or opinions, or the reasonableness of an forward looking statements regarding the future prospects or performance of the Fund. contained in the Information.