NZ Private Capital
1. Business / Trading Name: New Zealand Private Capital Association Incorporated (trading as NZ Private Capital). Formerly known as the New Zealand Private Equity & Venture Capital Association (NZVCA).
2. Company number: 299378.
3. NZBN: 9429042776376.
4. Entity type: Incorporated Society (not-for-profit industry association).
5. Business classification: Not-for-profit industry body dedicated to venture capital and private equity investment.
6. Industry Category: Financial services – Investment (Private Equity & Venture Capital). Focused on private capital investment in businesses across all sectors.
7. Year founded: Incorporated 1986; re-launched in early 2000s. (The association was first registered in May 1986, went dormant in 1989, and was re-established around 2001-2002. It marked its 20th anniversary in 2022 under the current structure.)
8. Addresses:
Registered Office: C/- Chapman Tripp, Level 34, PwC Tower, 15 Customs Street West, Auckland 1010.
Postal Address: PO Box 25716, St. Heliers, Auckland 1740.
9. Website URL: nzprivatecapital.co.nz.
10. LinkedIn URL: linkedin.com/company/nz-private-capital (Official LinkedIn page).
11. Company Hub NZ URL: Data Not Found. (No listing on Company Hub; see Companies Office/BusinessCheck records.)
12. NZ Companies Office URL: https://app.businessregisters.govt.nz/sber-businesses/viewInstance/view.html?id=229a78e05307b6d8bf1b29667f00cb17a7c13a96d6747f8a&_timestamp=3415546132115344 (Incorporated Societies register)
13. Social Media URLs:
LinkedIn: @NZ Private Capital (primary social presence).
Twitter: @NZPrivateCap (account created August 2019; minimal activity).
(No official Facebook or other social media identified.)
14. Ultimate Holding Company: Data Not Found. (Independent non-profit association; no holding company.)
15. Key Shareholders: Data Not Found. (Incorporated society with members, not shareholders.)
16. Leadership:
Chairperson: Philippa Weston – Partner at Pencarrow Private Equity (Chair of NZ Private Capital since 2021).
Executive Director: Colin McKinnon – Chief executive officer of the association since 2008 (former MED adviser).
Relationship Manager: Lara Thomas – Staff liaison for members and events.
Council (Board) Members: Industry representatives including Ali Urlich (ASB Bank director), Anastasiya Gamble (Simpson Grierson partner), Andrew Fredericks (Waterman Capital executive), Ben Flay (Pioneer Capital investment director), Kim Cunningham (EY partner), Chris Wills (Direct Capital investment director), Fergus Lee (ANZ Bank executive), Fiona Foster (Movac investment director), Joshua Pringle (Chapman Tripp corporate partner), Ryan Thompson (Oriens Capital manager), Sujit Kalidas (Co-head of Private Equity at ACC, a Crown entity), and Vignesh Kumar (GD1 VC fund partner). (Council members serve as the governing board.)
17. Staff: The association has a small secretariat (estimated 2-3 employees). Day-to-day operations are run by the Executive Director and a Relationship Manager. (LinkedIn lists “2–10 employees,” reflecting a lean staff structure.)
18. Staff that have held previous government roles:
Colin McKinnon – Prior to leading NZ Private Capital, he was a chief adviser at the Ministry of Economic Development, then transitioned to lobbying for the industry in 2008.
(No other current staff are known to have held government positions. The rest of the team is drawn from the private sector.)
19. Past Employees:
Christopher Twiss – Executive Director of NZVCA from ~2003 to 2008, before Colin McKinnon’s tenure. Twiss led the association’s early development for five years.
(Other past staff not publicly documented. Council membership rotates, but those are industry volunteers rather than employees.)
20. Clients: Data Not Found. (As an industry association, NZ Private Capital does not serve “clients” in a commercial sense; its stakeholders are its member firms.)
21. Industries/sectors represented: Represents the private equity and venture capital investment sector, i.e. providers of private capital to businesses. Its membership includes venture capital funds, mid-market and buyout private equity firms, angel investors, institutional investors (e.g. pension funds), and professional services firms that support investment deals. Through its members, NZ Private Capital is involved in all sectors of the economy – any industry where businesses seek growth capital. (It describes itself as “the voice of private capital in New Zealand,” with members partnering across every sector to help companies grow.)
22. Publicly Disclosed Engagements:
Policy Submissions: NZ Private Capital regularly submits to government consultations. For example, it made a submission to the Tax Working Group in 2018 advocating R&D tax incentives, and provided input on the policy statement for the $300m Venture Capital Fund Act in 2019. It also lodged submissions on reforms of the Overseas Investment Act (e.g. in 2019) and other finance/regulatory bills.
Select Committees: Representatives of NZ Private Capital have appeared before parliamentary select committees on business and finance legislation (e.g. securities law reform, foreign investment rules), though details are not comprehensively published.
Ministerial Meetings: The association’s Executive and Council engage with Ministers and officials (e.g. MBIE, Treasury) as part of industry consultation groups. (Such meetings are not individually disclosed by the organisation; any information comes from ministers’ diaries or OIA requests, which are patchy.)
Public Statements: NZ Private Capital often publicly comments on government policy decisions via press releases. Notably, it welcomed the government’s NZ Venture Investment Fund and Elevate VC fund initiatives, and it publicly urged changes to tax loss continuity rules (which were adopted in 2020). These engagements illustrate its lobbying in action.
23. Affiliations:
Angel Association New Zealand (AANZ): Close affiliation – the venture capital industry body for angel investors. NZ Private Capital frequently coordinates with AANZ on shared goals (e.g. issuing joint statements on policy such as the 2019 Budget VC fund).
International Counterparts: Informal ties to overseas private capital associations (e.g. the Australian Investment Council). NZ Private Capital staff and members attend international conferences and share data with global industry groups, although no formal alliance is noted publicly.
Data Partnerships: Partnered with Cambridge Associates (global investment data firm) to compile NZ venture capital performance data. Also works with professional services firms (like Ernst & Young) on industry research (see Sponsorships).
Business/Industry Networks: As an industry voice, NZ Private Capital interacts with broad business coalitions (e.g. it is analogous to a sector member of BusinessNZ, though not formally a member). It often joins cross-industry lobbying efforts via coalitions when aligned (for instance, supporting general pro-investment regulatory settings alongside groups like the NZ Business Roundtable/NZ Initiative in the past). (No formal parent umbrella affiliation is disclosed.)
24. Sponsorships / Collaborations:
Annual Conference Sponsors: The association’s flagship NZ Private Capital Conference is sponsored by corporate partners. For example, BDO New Zealand is a long-standing sponsor of the annual conference. Law firms (Chapman Tripp, Simpson Grierson) and banks (ASB, ANZ) often sponsor or host events as well.
Research Collaboration: NZ Private Capital collaborates with EY (Ernst & Young) to produce the annual Private Capital Monitor report on investment activity. EY and NZ Private Capital co-host launch events for this report across NZ. Previously, in 2012, the association partnered with Cambridge Associates to improve data on NZ private equity performance.
Professional Workshops: Accounting and law firms (e.g. KPMG, Simpson Grierson) partner in delivering workshops and training for members (for instance, hosting ESG roundtables or “VC101” seminars).
Community Initiatives: In 2020, NZ Private Capital announced support for the “I Have a Dream” youth charity, indicating a sponsorship/donation as part of its community engagement.
Office Facilities: Chapman Tripp (a major law firm) provides the association’s registered office address, suggesting an in-kind sponsorship of office facilities.
25. Events (held or organised):
NZ Private Capital Conference: Annual conference (usually in Q3/Q4 each year) gathering investors, with panels and an Investment of the Year Awards ceremony. For example, in October 2019 the conference in Queenstown featured awards for best private equity deals. The 2025 conference is scheduled for 30 October in Queenstown.
NZ Venture Summit: An annual summit focused on venture capital/startups (usually held separately from the main conference). NZ Private Capital holds two major conferences per year – the Venture Summit (often in the first half) and the Private Capital Conference (in the second half).
Workshops and Roundtables: Regular professional development events for members. Examples include “VC101” and “PE101” workshops for investors, ESG roundtables, and networking sessions. These are often half-day events hosted in partnership with member firms.
Aspiring Women in Private Capital Awards: NZ Private Capital introduced an award to recognize emerging female leaders in the industry. In 2022, for instance, Fiona Foster of Movac won the Aspiring Woman in Private Capital Award at an industry event (often celebrated with a dedicated luncheon or at the annual conference).
Regional Networking Events: The association organizes regional mixers and presentations, sometimes in collaboration with NZ Trade & Enterprise or local economic development agencies, to connect investors with businesses. (E.g. “Business Growth” forums, though specifics vary year to year.)
(All events are geared toward advocacy, education, and networking for the private capital ecosystem.)
26. Political Donations: Data Not Found. (No public record of any political donations made by NZ Private Capital as an entity. A search of Electoral Commission disclosures up to 2023 shows no donations under the association’s name. Individual members or executives may donate in personal capacity, but no disclosed contributions by the organisation itself.)
27. Controversies: No major public controversies are directly linked to NZ Private Capital. The organisation has maintained a low public profile and generally avoids negative publicity. However, transparency advocates have raised concerns about unseen influence: NZ Private Capital conducts extensive lobbying behind closed doors (see Part Two) in an environment with no mandatory disclosure. This lack of openness could be seen as a red flag, though it is a systemic issue in New Zealand rather than a specific scandal about NZPC. The association itself has not been embroiled in any scandals or legal disputes known publicly. (Its messaging focuses on positive economic contributions of private capital; any criticism tends to be indirect, regarding the wider lobbying “grey zone” in which it operates.)
28. Other information of note:
Membership Size: NZ Private Capital’s membership consists of over 120 organisations (as of 2023 it reported 123 members). This includes ~39 private equity firms, 23 venture capital firms, and dozens of corporate members (banks, law firms, accounting firms, institutional investors, etc.). Collectively these members involve over 2,000 individual professionals in the private capital market.
Public Sector Members: Uniquely, the association’s roster includes government-associated investment entities – for example, the NZ Super Fund and ACC (Accident Compensation Corp) are institutional investors that participate in private equity and are members. Additionally, the government’s venture investment arm (NZ Growth Capital Partners, formerly NZVIF) has ties to the group. This public-private overlap means government agencies sit alongside private firms in NZPC’s initiatives, a notable aspect of its influence network.
Name Changes: The organisation’s name changes reflect its evolving scope. It began as the NZ Venture Capital Association in 1986, expanded to NZ Private Equity & Venture Capital Association in 2007, and rebranded to NZ Private Capital in late 2018. The latest change signaled an inclusive focus on all forms of private investment capital, not just venture funding.
Founding Context: NZ Private Capital (NZVCA) was formed to foster a nascent industry. The mid-1990s saw New Zealand’s first venture capital successes (e.g. Direct Capital and Pencarrow’s early investments), and by 2002 the industry and government created structures (such as the NZ Venture Investment Fund) to accelerate growth. NZVCA’s establishment was part of this ecosystem-building, and those pioneer firms remain influential in the association.
Economic Impact Claims: The association often highlights that businesses backed by private capital contribute significantly to New Zealand’s economy. It publishes an Annual Industry Snapshot (Private Capital Monitor) quantifying investments and returns, and it asserts that private equity/VC funding drives job creation, innovation, and GDP growth. (For example, it has cited case studies like Rockets, healthcare companies, tech startups that grew with private equity support.) While these claims are promotional, they form a key part of NZPC’s public narrative.
Legal Status and Compliance: As an Incorporated Society, NZ Private Capital will need to re-register under the new Incorporated Societies Act 2022 by 2026 (a sector-wide requirement). It is not a registered charity, so it has no public charity reporting obligations. Its financial statements are only available to members, which is common for industry associations – this limits outside scrutiny of its funding.
29. Recipient of Wage Subsidy Scheme: Data Not Found. (No evidence was found that NZ Private Capital Association applied for or received COVID-19 wage subsidies. It is not listed in the official wage subsidy recipient database under its name, suggesting either it did not apply or had too few employees to be publicly reported. The association’s revenue is member-funded, and it may not have met the criteria or chose not to seek government wage support during 2020–21.)
Sources:
[1] New Zealand Private Capital Assn Inc – Incorporated Society Details (ID 299378), BusinessCheck (NZ Companies Office data), https://www.businesscheck.co.nz/ltd/9429042776376/
[2] New Zealand Private Capital (NZPC) overview, BDO New Zealand – BDO Auckland Community page, https://www.bdo.co.nz/en-nz/microsites/bdo-auckland-community (scroll to New Zealand Private Capital (NZPC))
[3] “Voice of Private Capital” – About Us page, NZ Private Capital, https://nzprivatecapital.co.nz/about-us/ (membership and advocacy described)
[4] Contact Us – New Zealand Private Capital (office addresses), NZPrivateCapital.co.nz, https://nzprivatecapital.co.nz/contact-us/
[5] NZ Private Capital – Company Page, LinkedIn, https://www.linkedin.com/company/nz-private-capital/
[6] NZ Private Capital (@NZPrivateCap) – Profile, Twitter/X, https://twitter.com/NZPrivateCap
[7] Private Equity, New Zealand style, NZ Shareholders’ Association (The Scrip, Aug 2022), https://www.nzshareholders.co.nz/scrip-article/private-equity-new-zealand-style/
[8] Colin McKinnon appointed Executive Director of NZVCA (2008), NZ Management Magazine, 23 April 2008, http://management.co.nz/archive/move-22 (archived “On the Move” news)
[9] Philippa Weston – Partner at Pencarrow (Chair of NZ Private Capital council), LinkedIn, https://nz.linkedin.com/in/philippa-weston
[10] Ali Urlich – Director, Capital Markets at ASB Bank (NZPC Council member), LinkedIn, https://nz.linkedin.com/in/ali-urlich
[11] Anastasiya Gamble – Partner, Simpson Grierson (NZPC Council member profile), Simpson Grierson (law firm site), https://www.simpsongrierson.com/people/anastasiya-gamble
[12] Andrew Fredericks – Executive Director, Waterman Capital (council member), Waterman Capital (team profile), https://www.waterman.co.nz/Team/Andrew-Fredericks
[13] Ben Flay – Investment Director, Pioneer Capital (council member bio), Pioneer Capital, https://pioneercapital.co.nz/our-team/ (see profile for Ben Flay)
[14] Chris Wills – Investment Director, Direct Capital (council member), Direct Capital (team profile), https://www.directcapital.co.nz/Team (see Chris Wills)
[15] Fergus Lee – Head of Structured Finance, ANZ (NZPC council member), NZ Private Capital (member listing), nzprivatecapital.co.nz/members/anz-bank (accessed 2025)
[16] Movac’s Fiona Foster Takes Out This Year’s Aspiring Women in Private Capital Award, Scoop News, 1 Oct 2021, https://www.scoop.co.nz/stories/BU2110/S00007.htm
[17] Joshua Pringle – Corporate Partner, Chapman Tripp (NZPC Council), Chapman Tripp (law firm site), https://chapmantripp.com/our-people/joshua-pringle
[18] Sujit Kalidas – Co-Head of Private Equity, ACC (NZPC Council member), LinkedIn, https://www.linkedin.com/in/sujit-kalidas
[19] Lobbyists in New Zealand enjoy freedoms unlike most other nations, Radio New Zealand News, 28 Mar 2023, https://www.rnz.co.nz/news/lobbying/486670/ (NZ lacks lobbying transparency or restraints)
[20] ‘Unchecked’ industry lobbying needs regulating, say ex-politicians, Radio New Zealand News, 7 Apr 2025, https://www.rnz.co.nz/news/political/557401/ (calls to end “hidden lobbying” and enact a lobbyist register)
[21] Bryce Edwards, Integrity Briefing: The Silent Death of Lobbying Reform in NZ, The Democracy Project – The Integrity Institute (Substack), 4 Mar 2024, https://democracyproject.substack.com/p/integrity-briefing-the-silent-death (NZ’s “wild west” lobbying environment discussed)
[22] NZ Private Capital – Submission to the Tax Working Group (2018), NZ Private Capital (archived PDF), https://nzprivatecapital.co.nz/wp-content/uploads/2020/07/NZ-Private-Capital-submission-to-Tax-Working-Group.pdf
[23] Code of Conduct – New Zealand Private Capital, NZPrivateCapital.co.nz, https://nzprivatecapital.co.nz/about-us/ (outlines professional standards for members)
Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz