New Zealand deep tech startups are gaining serious traction, and investors are taking notice. If you’re searching for the latest developments in New Zealand’s innovation ecosystem—especially in clean energy, AI infrastructure, and hard science ventures—here’s the news you’ve been looking for. Outset Ventures, the Auckland-based venture capital firm known for backing transformative technologies, has just announced the closing of its second fund at an oversubscribed $41.5 million NZD, approximately $25 million USD. This fresh capital injection marks a significant step forward for the region’s growing reputation in the global deep tech space.
Outset Ventures has a strong track record of identifying and supporting high-impact startups. It’s the same firm that helped launch Rocket Lab and LanzaTech, both of which became global players in aerospace and sustainable technology. Now, with this new fund, Outset is doubling down on energy innovation, advanced engineering, and solutions that address the real-world constraints of scaling artificial intelligence.
“We know that the biggest constraint for AI growth all comes down to who can get the most installed energy the fastest,” said Angus Blair, a partner at Outset. As AI demands continue to surge globally, supporting scalable energy storage and generation technologies is no longer optional—it’s essential. This positions New Zealand to lead in critical infrastructure development where larger markets often move slower due to regulation and legacy systems.
Outset’s portfolio companies are focused on solving problems that matter: improving clean energy systems, recycling industrial heat waste, and unlocking bottlenecks in infrastructure that are being pushed to their limits by AI workloads. One standout is OpenStar, a homegrown nuclear fusion startup pursuing levitated dipole reactors. The company has made headlines for producing superheated plasma—reaching temperatures of 540,000°F—with a lean investment of just $10 million. For context, most fusion breakthroughs historically require decades and billions in public funding.
With an increasing focus on venture capital returns tied to real-world applications like renewable energy and data infrastructure, this $25M raise isn’t just good news for New Zealand — it’s a signal to global investors that the country’s deep tech sector is ready for the big leagues. From fusion energy to AI-ready infrastructure, the companies coming out of Outset Ventures represent a bold future powered by scalable, sustainable technologies.
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