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Movac is Auckland and Wellington-based venture and growth capital firm founded in 1998, New Zealand's most experienced and longest-running venture capital firm, with nearly three decades of backing Kiwi technology companies. The firm has backed more than 60 companies across its fund history, consistently delivering top-quartile and top-decile returns to investors based on cash returned. Movac Growth Fund 7 is the firm's seventh growth-stage vehicle and its largest to date.
Movac's growth funds back high-growth New Zealand technology companies across enterprise SaaS, fintech, legaltech, agtech, aerospace, and AI-enabled software at Series A, B, and C+.
The firm targets companies with proven unit economics, disciplined use of capital, and the ability to scale revenues past $100 million annually. Up to 30% of each growth fund may be deployed offshore, typically in companies with strong New Zealand connections.
Movac Growth Fund 7 (MGF7) completed a first close of $107M (NZ$185M) in June 2026, almost double its initial target, achieved within six months of launch.
The fund is targeting a hard cap of $116M (NZ$200M).
LPs include NZ Super Fund (cornerstone, backing Movac growth funds for over a decade), Government Superannuation Fund Authority, Forsyth Barr, and Ngāi Tahu Holdings, alongside approximately $46M (NZ$80M) from Active Investor Plus (AIP) visa investors across the last two Movac funds.
MGF7 is an approved Acceptable Managed Fund under New Zealand's AIP visa program. Initial checks range from $3–17M (NZ$5–30M+), with follow-on capital reserved for future rounds.
Leadership
Mark Vivian is Partner and the fund's primary external spokesperson for MGF7.
Phil McCaw is Partner and one of the founding architects of Movac's growth strategy.
Mark Stuart is Partner.
Jason Graham is Partner.
David Beard is Partner.
Fi Foster is Partner, recently promoted in March 2026.
Investment Strategy
Movac writes initial checks of $3–17M (NZ$5–30M+) at Series A through C+, targeting a concentrated portfolio of companies with demonstrated product-market fit, disciplined capital use, and a clear path to $100M+ ARR.
The firm takes active board-level involvement and supports portfolio companies on go-to-market execution, international expansion, and subsequent fundraising.
The AIP visa program integration is a structural feature of MGF7, enabling investor migrants to co-invest alongside institutional LPs and access Movac's network.
Notable Investments
Notable Exits
+64 27 246 4936
Mark Vivian — Partner
mark.vivian@movac.co.nz
Phil McCaw — Partner
phil@movac.co.nz
Mark Stuart — Partner
Fi Foster — Partner
fiona@movac.co.nz
New Zealand
