Harbour Asset Management backs Altered Venture Fund II

Fund II has already invested in three companies: Contented, an AI assistant that turns workplace conversations into business-ready documents, Ideally, which is disrupting market research by offering insights from real people in near real time at a fraction of the cost of a traditional agency, and Pearler, an Australian wealth platform built for the next generation of long-term investors.

Altered only invests in outstanding businesses once they are proven. The purpose of Fund II is to provide capital that removes all growth constraints and to support founders to unlock opportunities at every stage of their growth journey. Fund II will hold a concentrated portfolio of 10 to 12 companies, with a New Zealand focus and global deal flow.

"We're delighted to welcome Harbour Asset Management as an investor in Fund II," says Altered Capital Managing Partner McGregor Fea.

"Harbour is one of New Zealand's largest and most respected investment managers, and has long made the case for private markets playing a bigger role in New Zealanders' portfolios. Their backing means a great deal to our team. Through Fund II, we are proud to bring institutional capital from New Zealand and abroad to grow our country's most ambitious companies."

Fund II remains open to wholesale investors ahead of its final close on 31 December 2026.

About Altered Capital

Altered Capital is a New Zealand based venture capital and growth investor, backing teams with proven traction to reach their greatest ambitions. Founded from success in the most competitive markets in the world, Altered has over $350 million in committed capital, and has backed Kiwi success stories such as Crimson Education, First Table, and Oritain.

About Harbour Asset Management

Founded in Wellington in 2009, Harbour Asset Management is one of New Zealand's most highly rated investment managers. Its clients include KiwiSaver funds, charitable trusts, iwi, government institutions, corporate superannuation funds, financial advisers and high net worth individuals.