New Zealand · Investor

Altered Capital

Last cheque observed Sep 2026; 5 cheques on record.

Email

Deploying nowNew fund $69M, Oct 2024VC firm

Series ASeries DFinancial Services

Deploying now
100%of best year3cheques in 12 months, 5 on record
Since the last cheque58days00hrs00min00sec
Median round$14MRounds led2 of 5Mostly inNew Zealand, 60%
Pitch Altered Capital

Altered Capital highlights

  1. 01

    3 cheques in the last 12 months

  2. 02

    Mostly Series A and Series D: 100% of its rounds

  3. 03

    Led 2 rounds

What they do

Backing Global PioneersFrom their own website
Type
VC firm
Cheque size
Not stated
Sectors
Financial Services
Based in
Auckland, New Zealand
Cold pitches
Not stated

The record

Every round we can evidence, newest first5 appearances

  1. 2026

    3 rounds

  2. Sept
    PearlerSeries A · AU · Portage$16MWith 6 others
  3. Apr
    IdeallySeries A · NZ · Ventureburn$10MWith 5 others
  4. Jan
    AlpacaSeries D · US · Diagram$150MWith 15 others
  5. 2025

    1 round

  6. Sept
    Starboard Maritime IntelligenceSeries A · NZ · Startup Daily$14MLed
  7. 2024

    1 round

  8. Oct
    EmergeSeries A · NZ · Startup Daily$7.3MLed

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration3 named

CJCraig John MawdsleyDirectoriFiling they signed
MJMarcus John TraillDirectoriFiling they signed
MDMcGregor Duncan FeaDirectoriFiling they signed

Who they invest alongside

The investors most often in the same rounds as Altered Capital. A count of rooms they were both in, not a relationship either has claimed.

Icehouse VenturesVC firm3rounds togetherSE VenturesCorporate VC3rounds togetherOIF VenturesVC firm2rounds together

Recently backed

The latest companies Altered Capital put money into.

Pearler$16M · Sept 2026Alpaca$150M · Jan 2026Starboard Maritime Intelligence$14M · Sept 2025Emerge$7.3M · Oct 2024

Quick answers about Altered Capital

What does Altered Capital invest in?

Altered Capital invests most often at Series A and Series D (100% of the rounds on record), in sectors such as Financial Services.

How active is Altered Capital?

5 investments on record, 3 of them in the last 12 months, and it led 2. The most recent was in Sept 2026.

What has Altered Capital invested in recently?

Its most recent investments on record: Pearler (Series A, Sept 2026), Ideally (Series A, Apr 2026) and Alpaca (Series D, Jan 2026).

How big are Altered Capital's cheques?

The median round it joins is $14M.

Does Altered Capital lead rounds?

Yes: it led 2 of its 5 investments on record (40%).

Where does Altered Capital invest?

Most of the companies it backs are in New Zealand (60%), Australia (20%) and the United States (20%).

Is Altered Capital investing now?

Yes: it is actively investing, with 3 investments in the last 12 months.

Who does Altered Capital invest alongside?

Most often Icehouse Ventures (3 rounds together), SE Ventures (3 rounds together) and OIF Ventures (2 rounds together).

Raising now?

Find the investors who back rounds like yours, and keep every conversation on one fundraising board.

Find similar investorsOpen your CRM

Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it