NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Small Business

Investment capital firm Maker Partners backs three new Kiwi start-ups

Aimee Shaw
By Aimee Shaw
Business Reporter·NZ Herald·
16 Oct, 2022 09:23 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Maker Partners: Rod Snodgrass, Jonathan Reid, Marko Bogoievski and Hemant Walter-Rao. Photo / Supplied

Maker Partners: Rod Snodgrass, Jonathan Reid, Marko Bogoievski and Hemant Walter-Rao. Photo / Supplied

New investment capital firm Maker Partners has raised $15 million in its latest fund as it moves to build a diversified portfolio of high-growth companies.

Maker, which calls itself a purpose-driven venture capital firm, has its eyes set on young founders in early start-ups forging global social and sustainable change.

The VC was founded in February by former Spark Ventures CEO Rod Snodgrass, former Infratil CEO Marko Bogoievski, serial entrepreneur Jonathon Reid and tech whizz Hemant Walter-Reo, who is said to have helped build India's first e-commerce site.

Since setting up Maker, the group has made three investments.

It has invested $1.5m in on-demand home services business NexDo, which books lawn mowing, cleaning and junk removal services through its app.

Advertisement
Advertise with NZME.

It has also invested $1m in conscious women's fashion brand Paris Georgia and $1.6m in non-synthetics fragrance company Abel Odor, founded by former wine maker Frances Shoemack.

The founders of all three businesses - Frances Shoemack, Sakshin Niranjan and Paris Mitchell Temple and Georgia Cherrie, in their late 20s and early 30s.

Maker Partners lead Rod Snodgrass said Maker had surpassed its $15m fund target and would close it ahead of Christmas with more than $18m for its first fund.

Advertisement
Advertise with NZME.

Maker had put in 20 per cent of it target, to the tune of $3m.

The funds raised would be used over the next two to three years for four to six investments per year.

Discover more

Small Business

People's uprising: Wellington coffee brand seeks $1.5m for expansion

11 Oct 04:00 PM
Small Business

'Never been more vacancies': 30,000 more hospitality staff needed for summer

11 Oct 01:02 AM
Small Business

Big business versus small firms: Which are feeling the tightest squeeze?

09 Oct 04:00 PM
Small Business

Jobs For Mums: Auckland start-up has big plans

08 Oct 06:36 AM

"Other funds write lots of small cheques - investing in a lot companies on the basis that one of them will go big. We're a bit different than that," Snodgrass told the Herald.

"We're investing in a small number writing large cheques based on higher conviction."

As active investors, Maker's partners often sat on investment company boards and helped with key hires, networking and ongoing support and mentorship.

At this stage Maker was only interested in investing in New Zealand-based companies.

Snodgrass is on the board of NexDo and had invested in the firm prior to Maker's involvement. He is also on the board of Paris Georgia following his personal interests and experience with global apparel through Kiwi outdoor clothing company Ilabb.

"We're looking for New Zealand companies that are purpose-driven that have disruptive products or platforms that address an existing problem in the global market."

Advertisement
Advertise with NZME.

Maker has little interest in "deep tech" companies or government enterprise modelled start-ups, but it is interested in businesses that are enabled by technology.

Snodgrass said he, like the other founders, were motivated to help build "great Kiwi businesses".

He said Maker was not solely focused on chasing the next unicorn.

"We're in very disruptive times when a lot of the large traditional businesses are in decline.

"They're being attacked by small disruptive businesses, and I do worry that New Zealand's not going to have enough new businesses and new growth and where are the jobs going to come from," he added.

"So to me, a lot of it is about building a large number of great Kiwi businesses over the next decade."

The investment into the first three companies was at the higher end of cheques and typically started with small investments in firms at pre-seed and seed stages starting from $250,000 to $2m.

"We want to see all of these businesses become multi tens of million-dollar businesses at a minimum in terms of value, if not hundreds of millions," said Snodgrass.

"We personally are not that interested in unicorns - the billion-dollar businesses like Xero - we're quite happy to have ten $100m businesses than chase one billion-dollar one. We focus on building lots of great businesses."

He said unicorns were rare, especially in New Zealand.

"We're looking to make the founders rich and create great, valuable businesses that do awesome things for the world and create jobs."

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Small Business

Premium
Business|small business

Controversial Kiwi start-up, once worth $38m, folds in New York

19 Jun 02:37 AM
Premium
Small Business

Small Business: Weaving culture and quality with Nodi Rugs

15 Jun 05:00 PM
Premium
Media and marketing

‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

11 Jun 05:00 PM

Jono and Ben brew up a tea-fuelled adventure in Sri Lanka

sponsored
Advertisement
Advertise with NZME.

Latest from Small Business

Premium
Controversial Kiwi start-up, once worth $38m, folds in New York

Controversial Kiwi start-up, once worth $38m, folds in New York

19 Jun 02:37 AM

It says it's collateral damage in the city's war on Airbnb and will try again elsewhere.

Premium
Small Business: Weaving culture and quality with Nodi Rugs

Small Business: Weaving culture and quality with Nodi Rugs

15 Jun 05:00 PM
Premium
‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

11 Jun 05:00 PM
Premium
Small Business Q&A with Willy Benson of PortaSkip

Small Business Q&A with Willy Benson of PortaSkip

Help for those helping hardest-hit
sponsored

Help for those helping hardest-hit

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP