FirstCut IV
Invest in the next generation of exceptional Kiwi founders, before the world knows their names.
WHOLESALE INVESTORS ONly
key details

FirstCut IV
at a glance

An actively managed venture fund investing in ~30 early-stage technology companies, led by Kiwi founders under 30.

$5M+

Target fund size

~30

Portfolio companies

Pre-Seed to Series A

Investment stage

12 years

Fund term

$50K

Min. investment
(four tranches)

Limited Partnership

Fund structure

YOUNG FOUNDERS. GLOBAL AMBITION.

New Zealand's next breakout founders are already building.

Look across many of New Zealand’s most successful startups and a pattern emerges. Halter, Tracksuit, Partly, Crimson Education: many were founded by world-class founders under the age of 30. That's not a coincidence. It's an advantage.

Younger founders bring productive naivety and the confidence to build at global scale from day one. Today, the barriers to entry have collapsed. Students and young operators are shipping real products from dorm rooms and accessing the same tools as the best teams in the world.

First Cut IV backs this momentum early, giving the next wave of breakout Kiwi founders the capital, network, and conviction to turn talent into global outcomes.

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Previous FIRST CUT INVESTMENTS
THE EARLY-STAGE ADVANTAGE

Why FirstCut IV?

The best time to back a breakout founder is before they break out. First Cut IV is built to do exactly that, with nearly a decade of proof behind it.

Proven investment approach

Our First Cut funds are some of New Zealand’s longest-running early stage venture funds, with top-decile results across three previous funds. The investment thesis has been tested, validated, and refined over almost a decade of backing young Kiwi founders.

First Cut community

A community operating alongside the fund, First Cut is New Zealand’s largest network of ambitious entrepreneurs under 30. Future founders are identified long before they start their companies, relationships are built early, and funding rounds are arrived at as the natural first choice partner.

Concentrated by design

At $5M+ invested across ~30 companies, First Cut IV is intentionally kept small. A fund this size ensures every founder receives hands-on support, every dollar is deployed with conviction, and the portfolio remains concentrated enough to create meaningful upside potential.

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trusted by new zealand's leading institutions

"Icehouse Ventures has proven themselves over the last decade to be a top pedigree venture capital investor. We were particularly attracted by the unique deal flow and insights that Growth Fund II has as a result of Icehouse Ventures’ investments in >300 early-stage startups."

Sam Goldwater
CIO & Co-Founder
The team

Meet our Partners

20+ years backing New Zealand's most exceptional founders. 380+ companies invested. The country's largest deal team.

Robbie Paul
CEO

With Icehouse Ventures since our angel network days, growing alongside the firm to over $1b AUM.

Jason Wang
Partner

An EHF fellow who raised his first fund in 2016 and has built a vibrant Chinese community and one of NZ's most diverse investor networks.

Jack McQuire
Partner

Drawn to the optimism of founders tackling seemingly insurmountable global problems, a three-month internship turned into a decade-long career.

Barnaby Marshall
Partner

A founder and investor of over a decade, backing NZ's most exceptional early-stage entrepreneurs to scale globally.

Jo Wickham
Partner

From top-tier law firms to senior exec roles in global tech, Jo brings rare commercial rigour backing Kiwi founders.

The team

Meet our Partners

20+ years backing New Zealand's most exceptional founders. 380+ companies invested. The country's largest deal team.

Ready to explore investment opportunities?

If you are considering allocating capital to venture as part of your portfolio, please share your details and one of our team will be in touch.

Frequently Asked Questions