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We invest in people, not in business models or inventions. We partner with founders and operators who have a deep understanding of the problems they are tackling and conviction about how to solve them.
We invest early where we believe there is a significant opportunity to grow, and then work closely with teams as they experiment and help them to realise that potential.
Our track record of backing multiple startups that have grown to become iconic companies demonstrates the value of our focused approach.
Hoku Ventures is the investment arm of Hoku Group, backing a select number of high-growth technology companies with early capital and genuine, hands-on support.
We invest early, with conviction, and stay close. We are not passengers, but actively help founders to identify constraints and remove them. This approach is shaped by two decades working closely with teams that built iconic technology businesses. We learned not to be distracted by the theatre of startups. Instead we look for disciplined execution, strong teams, and durable value created over the long run, because we’ve seen the compounding impact of this unglamorous work
Our track record of building real companies speaks for itself. Rowan was employee #3 at Trade Me, where he led the software team through to the $750m sale in 2006 and beyond. He invested in Xero before it listed and was part of the original executive team. He was an early investor in and chair of Vend, sold to Lightspeed for US$350m, and the first investor in Timely, which sold for US$100m. How To Be Wrong, his 2025 book, draws on all of these experiences. The argument: embracing uncertainty, spotting patterns, and learning fast from mistakes are essential ingredients in any successful startup.
As a family office, we invest our own capital on our own timeframe, free of the short cycles and outside pressures that shape most venture fund investors. Rowan leads the investment work, supported by a small, experienced team, so founders we invest in get genuine, sustained attention, not just another name to put on their cap table.
Founded in 1999 by Sam Morgan. We became investors in 2000 when Trade Me acquired flathunt.co.nz.
Acquired in 2006 by Fairfax for NZ$750 million.
Founded in 2006 by Mike Carden, John Holt, Mark Hellier and Pete Weaver. We first invested in 2007, and in subsequent rounds.
Acquired in 2012 by Cornerstone OnDemand for US$14 million.
Founded in 2006 by Rod Drury and Hamish Edwards. We invested in the 2007 seed round and subsequent public listing, which raised NZ$15 million and valued the company at NZ$55 million.
The market cap passed A$10 billion for the first time in 2019 and A$20 billion in 2020.
Founded in 2014 by Nik Wakelin (Nik is also the founder of current portfolio company Sterling). We were first round investors.
Acquired in 2015 by Mashape (now Kong).
Founded in 2010 by Vaughan Fergusson and Mel Rowsell. We were first round investors in 2011, and in multiple subsequent rounds.
Acquired in 2021 by Lightspeed for US$350 million.
Founded in 2011 by Ryan Baker, Andrew Schofield and Will Berger. We were first round investors in 2013, and in multiple subsequent rounds.
Acquired in 2021 by EverCommerce for ~NZ$135 million.
Chairman
I lead the investment work at Hoku Group, building on more than two decades inside New Zealand's most successful technology companies. I was employee #3 at Trade Me, leading the software team through its growth and sale, a pre-IPO investor and part of the original executive team at Xero, an early investor and chair of Vend, and the first investor in Timely.
“Sometimes the only way to be right is to get comfortable with being wrong.”
— How To Be Wrong
Finance & Ops Director
I look after operations, portfolio management and financial planning for Hoku Group. I'll be the one asking you how we can help - staying close to the companies we back so we can offer real, timely and valuable support. My experience is hands-on, working inside and alongside startups and venture-backed businesses, with a foundation in accounting and financial operations.
Finance & Ops Manager
I keep the financial and operational side of Hoku Group running smoothly. My role covers investment portfolio reporting, accounting, and compliance across our diverse range of entities. I support the management and reporting of the venture portfolio covering a variety of companies, from early-stage through to growth. I make sure things get done.
