Welcome to Punakaiki Fund (PFL), the beacon of venture capital in New Zealand, dedicated to transforming high-growth technology companies into global leaders. With a unique evergreen structure and a decade-long legacy of success, we invite you to explore an investment opportunity like no other.
Punakaiki Fund is one of only three venture capital firms that has been active for over 10 years in New Zealand. Co-Founders Lance Wiggs and Chris Humphreys met at Pacific Fibre, a company set up to build a US$300 million fibre optic cable between Australia, New Zealand and the United States. Once Pacific Fibre ceased operations, Lance approached Chris about establishing a new growth orientated investment company to help fund the under-capitalised NZ tech sector and help accelerate the transition to a value economy. The pair commenced working on what would become 2040 Ventures and Punakaiki Fund in late 2012.
Punakaiki Fund made its first investment in early 2014. Since then, we’ve made over 120 investments in more than 30 companies, have over $100 million in funds under management across two funds (climatevcfund is our sister fund), and have grown the team to 10 people.
Punakaiki Fund is an investment company owned by shareholders, and governed by a Board of Directors. Punakaiki Fund is managed by 2040 Ventures Limited, where the partners are Lance Wiggs, Chris Humphreys, Nadine Hill, Jez Weston and Rohan MacMahon.
You can read more information about Punakaiki Fund in our most recent Product Disclosure Statements, annual reports and other documents on our Key Documents page.
We are based across New Zealand, in Te Anau, Wellington and our main office is in Auckland. We have a diverse team and Board with considerable international, multi-industry experience.
Independent Chair
Mike formerly the CEO of Z Energy, one of New Zealand’s largest retail and wholesale fuel businesses and is a director of Loyalty New Zealand Limited. He previously worked for 25 years with BP in a variety of downstream roles in New Zealand, China, South Africa, the United Kingdom and Singapore.
Mike has a BBS and Postgraduate Diploma in Corporate Management; and is a member of the Institute of Directors in New Zealand.
Mike Bennetts has a less than 5% shareholding and is an independent director.
director
Nigel has investment banking, wealth management, governance and broking experience. He held a number of roles inside ANZ, and before that was at Westpac. He assisted in the transition from Macquarie Private Wealth to Hobson Wealth, and was Head of Advice there until 2020 and today remains a director. He is also a director of Kōura Wealth, Syndex and is a Board Trustee of the Auckland Foundation. Nigel is a member of the NZ Institute of Directors and has Diplomas in Business from Massey University and CPIT.
director
Jayshree Das joined the Punakaiki Fund Board in February 2025, bringing extensive global experience from her director and senior executive roles in Investment Banking, Wealth Management, and NZX Participant Firms. She has previously held the role of Independent Chair of the NZX Conflicts Committee, served as a member and Chair of the NZ Securities Industry Association and was an accredited NZX Adviser. Jayshree is a member of the NZ Institute of Directors and the Chartered Accountants Australia and New Zealand.
Jayshree holds a Bachelor’s Degree in Accounting and Business Management.
Jayshree is an independent director.
director
Teressa has a broad corporate background at executive level, including 14 years in London in the financial services sector. She is currently CEO of Toitū Envirocare, president and director of the NZ & Pacific Islands Chapter of the Global Risk and Insurance Management Society (RIMS) and Vice Chair of RIMS Global Diversity & Inclusion Advisory Council. Teressa also founded NZ Diversity in Risk. She started her career as a lawyer with Buddle Findlay, Philips Fox and Linklaters.
Teressa has a Bachelor of Laws from Victoria University and is a Barrister and Solicitor of the High Court of New Zealand.
Teressa is an independent director.
co-founder
Lance is a Principal with 2040 Ventures, the manager of Punakaiki Fund
Lance is a director of 9 of Punakaiki Fund’s Portfolio Companies. He was formerly a director of Linewize until his resignation following its acquisition by Family Zone in late 2017, of Devoli until early 2017, when he was replaced by Chris Humphreys and of NZ Artesian Water until he resigned in October 2019.
Lance combines a wide variety of global experience with helping high-growth companies in New Zealand. Lance has helped hundreds of high growth companies through his work with 2040 Ventures, via Zealand Trade and Enterprise’s (NZTE) programmes, through Return on Science investment Committees and independently prior to the formation of 2040 Ventures.
Lance was the investment-banking advisor for Trade Me on its sale to Fairfax Media, with McKinsey & Company in Washington DC, contracted to the European Bank for Reconstruction and Development in London and consulted to BHP Billiton plants in South Africa, Australia and Mozambique. Lance was also an elected Councillor for InternetNZ, where he was a member of the Audit Committee.
Lance has an MBA from Yale University (Strategy, Finance) and a Bachelor of Technology (Hons, Product Development) from Massey University. He has been a regular judge for the Hi-Tech Awards and other events.
The Board’s core responsibility is approving and monitoring adherence to the investment objectives, risk management, strategies, policies and philosophies of Punakaiki Fund, and to ensure Punakaiki Fund meets its statutory obligations. These are reviewed on a regular basis, with policies being added and extended as Punakaiki Fund grows.
Part of these core responsibilities include monitoring 2040 Ventures and Punakaiki Fund’s performance. This involves monitoring and valuing Punakaiki Fund’s investment portfolio, and ensuring that expenditure by Punakaiki Fund is made on a prudent and appropriate basis.
Punakaiki Fund appointed 2040 Ventures Limited to be the manager of Punakaiki Fund. 2040 Ventures is responsible and had broad powers for investment, managing investments, fundraising and certain administrative services. It is responsible for adhering to the various policies, objectives and directives set by the Punakaiki Fund Board, including ensuring that the Board is kept fully informed about material matters relating to investments and Punakaiki Fund itself.
Go to the 2040 Ventures website
Punakaiki Fund Limited is committed to the highest standards of corporate governance and uses the Punakaiki Fund Board Charter to guide the Board’s behaviour. We have a number of policy documents, which are each regularly reviewed. Many of these, linked here, are publicly disclosed.
