We back people building real New Zealand businessesPIE Tax Compliant, AIP Approved Fund, Bi-Monthly Income.
Net Capital Nominee Limited (FSP1009920) is a registered financial services provider under the Financial Services Amendment Act 2010.
The Opportunity
Traditional banks prioritise property. Venture and private equity serve the extremes. That leaves a $5B+ credit gap across the backbone of our economy — profitable, proven businesses that need capital to grow, hire, and expand.
60,000+ Growth Stage Businesses In NZ
$1M-$30M - Annual Turnover Each
$100B - Contribution to GDP
Structured Growth Capital for New Zealand’s Real Economy
Net Capital Unit Trust is a wholesale private debt fund that connects investor capital with the engine room of New Zealand’s economy — growth-stage small and medium-sized businesses (SMEs) turning over $1 million to $30 million.
The fund provides bespoke, short-to-medium term lending solutions to businesses that are too large for angel capital, too fast for private equity, and often overlooked by traditional banks. These businesses are often expanding, hiring, exporting, acquiring competitors, or investing in infrastructure — and we back them with structured credit tailored to their needs.
As a wholesale investor, you gain exposure to a diversified, actively managed portfolio of private loans with strong return potential and real economic impact.
🧩 Fund Structure
Legal Structure: Wholesale Unit Trust under the FMC Act
Manager: Net Funds Nominee Ltd (FSP 100992)
Trustee: Covenant Trustee Services
Registrar: Caruso Software Limited
Regulatory Status:
Wholesale investor only
PIE tax-compliant
AIP Growth Category aligned (NZTE-consulted and structured for international investor eligibility)
💸 Target Returns
Investor Return: OCR + 7% per annum (target IRR)
Distributions: Paid bi-monthly
Minimum Investment: NZD $100,000
Redemptions: After 12-month lock-in, with 12 months’ notice
Liquidity: Diversified portfolio and staged runoff policy
🛡️ Why Investors Choose Net Capital
Proven track record: $100M+ capital deployed by our team since 2018
Diversification by design: Product allocation and borrower/sector limits built into SIPO
Live credit monitoring: API-linked financial data for real-time loan oversight
No performance fees: We only earn when you earn
Alignment with Growth: Each loan screened for NZ economic impact (jobs, exports, innovation)
AIP Visa investors welcome: Structured to meet NZTE Growth Category expectations
At Net Capital Unit Trust, our investment strategy is focused, disciplined, and purpose-driven. We provide structured debt to New Zealand’s small and medium-sized enterprises (SMEs) at pivotal growth stages — helping them unlock their next phase of expansion, productivity, or transformation.
We lend to businesses typically turning over $1M to $30M, in sectors that matter: technology, manufacturing, food and beverage, tourism, logistics, and more. These are companies with strong fundamentals, experienced leadership, and clear plans for scaling — yet often overlooked by banks or too early for private equity.
💡 Our Capital Is Tailored, Not Generic
Rather than applying a one-size-fits-all lending model, we offer a suite of structured credit products, each designed to meet the realities of SME cashflow, growth plans, and return on investment. Our team actively works with borrowers to shape loan structures around performance, exit events, or contract triggers.
Core Products:
Working Capital Loans – to smooth cashflow, fund inventory, or execute a growth contract
Term Debt – to support asset purchases, hiring, or fixed growth milestones
Forward Revenue Finance – non-dilutive capital for SaaS, licensing, and recurring revenue models
Acquisition Finance – funding for buyouts, bolt-ons, or shareholding transitions
Real-Economy Property Lending – project-based funding where property supports business expansion (e.g. post-harvest sheds, aged care facilities, eco-tourism builds)
🔍 How We Select Investments
Every opportunity is screened through our proprietary credit framework, which blends real-time financial monitoring (API integration), rigorous qualitative assessments, and AIP-aligned impact criteria.
We assess:
The borrower’s ability to generate and sustain free cashflow
The strength and integrity of management
The economic contribution to New Zealand (jobs, exports, innovation)
ESG alignment and governance structure
Exit strategy and repayment clarity
🧠 Active Management. Long-Term Thinking.
Our investment decisions are not passive. We monitor borrowers continuously and work with them as strategic partners. If they lose alignment with the fund’s risk or impact objectives, we take decisive steps to protect investor capital.
We are building a fund designed to last — one that thinks in 100-year terms, prioritises trust, and delivers consistent value to both investors and the New Zealand economy.
At Net Capital, portfolio and fund management isn’t a set-and-forget function — it’s a dynamic, hands-on discipline designed to protect capital, drive returns, and deliver real impact.
We actively manage both our borrower relationships and our investor capital, ensuring each dollar is matched to opportunities that meet our strict credit, impact, and governance standards.
🔍 Loan-Level Portfolio Management
Our credit team monitors each loan on a live basis using API integrations (e.g. Xero, MYOB) that provide real-time data feeds from our borrowers. This allows us to track key financial metrics including:
Cashflow & working capital
Revenue and margin performance
Debt service coverage
IRD and compliance status
We establish financial and operational covenants with every borrower, and we intervene early if risks begin to emerge.
If a loan becomes non-compliant, our exit strategy playbook is activated — whether that’s stepped-up reporting, board engagement, partial repayment, or in rare cases, enforcement or restructuring.
📊 Fund-Level Management
We manage the fund with a disciplined approach that aligns daily investor capital with actual deployment capacity. We track capital inflows, loan repayments, redemptions, and reserve requirements in real time.
Our allocation strategy is governed by strict product and sector concentration limits set out in the SIPO, ensuring healthy diversification across:
Borrower size and industry
Product type (term, working capital, forward revenue, etc.)
Loan maturity and repayment profiles
We operate under a run-off liquidity model, allowing for orderly redemptions and minimising asset sale pressure. All performance data is audited and shared with investors via quarterly and annual reports.
🧠 Governance & Oversight
Investment decisions over $500K or outside standard credit metrics require full Advisory Committee and Investor sign-off. Our governance model ensures:
Independent deal review
Strategic input from industry professionals
Full documentation and reporting on every deployment
Our internal team meets weekly to review performance, pipeline, and portfolio allocation — ensuring every decision is made with clear investor visibility and aligned with the fund’s long-term objectives.
✅ Result: Confidence, Consistency, Control
Our fund is built to give investors:
Confidence in deal quality and capital integrity
Consistency in yield and performance
Control via transparent communication and structured governance
With Net Capital, your investment doesn’t sit idle — it’s actively managed to fuel productive, growth-oriented business lending with real impact.
At Net Capital, our investors are more than just capital providers — they’re long-term partners in building the next generation of New Zealand businesses. Whether you’re a local wholesale investor or an international AIP participant, we provide clear, consistent, and proactive support from day one.
💬 Personalised Onboarding
From your first enquiry, you’ll be guided by a real person — not a chatbot. Our team will walk you through:
The fund’s investment strategy and product mix
How returns are generated and distributed
What reporting and transparency you can expect
Tax, PIE compliance, and AIP visa implications (if relevant)
We make sure every investor understands exactly where their money is going and why.
📈 Regular Reporting & Capital Transparency
You’ll receive quarterly reports detailing:
Portfolio performance and deal summaries
Interest distributions and redemptions
Sector exposure, borrower profiles, and NAV tracking
Commentary from the Investment Director and credit team
In addition, you’ll get:
Annual audited accounts
Capital deployment updates
Notices of any material changes or early repayment events
🌏 International & AIP Investor Support
For our Active Investor Plus (AIP) investors:
We provide evidence of compliance with NZTE Growth Category standards
API-backed reports on borrower impact (job creation, export activity, etc.)
Assistance with documentation required for immigration and visa progress
Multilingual summaries available on request
📞 Easy Access, Whenever You Need It
You’ll always have a direct line to our leadership team — not just a portal. We pride ourselves on being available, transparent, and quick to respond.
Need a portfolio breakdown? Want to discuss a new investment opportunity? Curious about pipeline performance?
We’re a phone call or email away. Always.
🔒 Investor Portal (Caruso)
We work with Caruso Software to provide a secure online dashboard for our investors to:
View investment holdings and returns
Download reports and tax statements
Track fund performance in real time
Submit redemption or reinvestment requests
Your trust is our benchmark. We protect capital with care, communicate with clarity, and invest alongside you with conviction.
Who we've helped.
Trusted relationships for growth
Technology Sector Investment Success
Industry: Technology
Current Group Revenue: $3 million
Net Funds provided $500,000 in structured funding over a 6-month period to support a significant working capital requirement for a large project. The investment was secured by a General Security Agreement (GSA) and a personal guarantee, ensuring strong risk management.
The funding was successfully exited, delivering an impressive 20% return on equity for investors.
Construction Sector Investment Success
Industry: Construction
Current Group Revenue: $5 million+
A high-net-worth client required flexible funding of $300,000 to complete a property project. Net Funds structured the investment with security via a caveat and a personal guarantee, backed by a $20 million net worth.
The investment is currently generating a 15% return, providing both security and strong returns for investors
Tech & Manufacturing Investment Success
Industry: Tech & Manufacturing
Group Revenue: $7M+
A client undergoing an exit from an international private equity firm required short-term working capital to maximise their exit multiple. Net Funds provided $100,000 in funding over three months, delivering a 10% return.
The investment was secured by company shares valued at $10M and a personal guarantee worth $30M, ensuring strong risk protection while supporting a high-value exit.