Outset Ventures is a deep tech venture capital firm and incubator based in Auckland, New Zealand. With roots in New Zealand’s science and engineering ecosystem, Outset has helped launch globally recognized companies like Rocket Lab and LanzaTech. The firm combines capital investment with direct access to technical facilities, offering a 60,000-square-foot lab and engineering space to portfolio companies. Outset is focused on solving hard science and infrastructure challenges with global impact, especially those where New Zealand’s research depth and capital efficiency offer a strategic edge.
Outset Ventures specializes in deep tech, including energy generation and storage, aerospace, medical technologies, and infrastructure.
The firm backs early-stage startups solving high-complexity problems with strong scientific foundations. While Outset is open to multiple verticals, it is currently channeling more focus into technologies supporting the AI energy supply chain, long-duration energy storage, and the next generation of clean power solutions. New Zealand's strengths in scientific research and small-market efficiency are seen as key enablers for Outset’s portfolio.
In May 2025, Outset Ventures announced the close of its second fund at $41.5 million NZD (approximately $25 million USD). The fund was oversubscribed, reflecting growing confidence in New Zealand’s deep tech capabilities. Fund II aims to build on the success of Fund I, which validated that capital-efficient, science-based ventures can succeed globally. About two-thirds of the new fund’s capital came from local institutional and private investors; the remainder came from international high-net-worth individuals, many of whom have personal or professional ties to New Zealand. Outset positions this fund not just as a source of capital but as a launchpad—leveraging its integrated facility and founder-first approach to de-risk the complex nature of deep tech ventures.
Leadership
Outset Ventures is led by a team of partners with deep operational and technical expertise in hard sciences and venture capital. Angus Blair, a prominent partner, plays a key role in defining the investment thesis and portfolio support. The leadership combines entrepreneurial experience with scientific rigor, ensuring startups receive both business guidance and technical insight.
Investment Strategy
The firm’s strategy centers around long-term, capital-efficient bets on scientifically ambitious companies. Outset often works closely with startups from incubation through early scaling, providing not only capital but also critical lab infrastructure. The team looks for technologies that can be prototyped and validated affordably within New Zealand before being scaled globally. Emphasis is placed on companies tackling infrastructure constraints, such as energy limitations linked to AI expansion, and sectors where local expertise can drive international outcomes.
Notable Investments
Outset Ventures has backed OpenStar, a nuclear fusion startup developing levitated dipole reactors, and EnergyBank, which is building long-duration energy storage for floating offshore wind farms. Both companies exemplify the firm’s focus on frontier energy technologies.
Notable Exits
Outset Ventures played a foundational role in the early growth of Rocket Lab and LanzaTech, two of New Zealand’s most prominent deep tech success stories. These companies have since become global players in aerospace and sustainable fuels, respectively, demonstrating Outset’s ability to identify and nurture world-class science-driven ventures from the outset.
