Pacific Channel has today announced the launch of its third venture fund - Fund III, with more than $50 million already committed and the fund's first exit already achieved - the sale of Quantifi Photonics, believed to be the fastest exit in New Zealand venture capital history.
The venture capital company's announcement comes as Elevate NZ Venture Fund commits $10m in follow-on investment to Fund III, backing Pacific Channel’s strategy to invest from pre-seed through to Series B in science and engineering-led ventures solving global challenges.
Fund III builds on Pacific Channel’s 20-year record of backing deep-tech companies across New Zealand and Australia, with over 66 investments and 11 successful exits to date. The firm’s model combines early-stage capital with hands-on operational and commercial support, ensuring that breakthrough science translates into scalable, globally relevant businesses.
"We are delighted to have the support of Elevate. This investment recognises the strength of our partnership and shared commitment to building globally impactful New Zealand companies," said Brent Ogilvie, Managing Partner at Pacific Channel. "With Fund III we are well-positioned to continue identifying frontier technologies addressing critical global challenges, creating high-value jobs, and generating intellectual property that remains in New Zealand ownership."
Fund III's first exit, Quantifi Photonics, was a portfolio company focused on high-speed photonic test solutions and was recently acquired by a Nasdaq-listed company - a milestone exit that underscores the quality of Pacific Channel’s portfolio and its ability to identify globally competitive innovation early.
Elevate’s renewed backing represents a direct investment into Fund III and supports Pacific Channel’s continued focus on identifying and growing deep-tech ventures in New Zealand. Pacific Channel is also expanding its reach with the launch of a dedicated Australian fund (Fund IV) and an Opportunities Fund. Separately, the firm was recently accepted into Callaghan Innovation’s Deep Tech Incubator programme, further strengthening its role in the local innovation ecosystem.
Fund III will invest from pre-seed through to Series B and focus on technologies in health, sustainability, advanced manufacturing and biotechnology - areas where Pacific Channel sees a global need and local opportunity.
