Why Now: Inside the Launch of the Bridgewest Ventures Fund
After years of investing its own capital into deep tech startups, Bridgewest Ventures is launching a new venture fund, its first to invite outside investors.
Saum Vahdat, CEO of Bridgewest Ventures, and Paul Brownsey, Independent Chair of the Investment Committee
The goal of the fund? To bring more high-conviction, long-term capital into the innovation ecosystem and support the next wave of transformational science and technology ventures.
So why launch the fund now? Why open it to others? And what does this mean for New Zealand’s deep tech sector?
We sat down with independent director Paul to explore the fund’s ambition, the opportunity it addresses, and what success might look like for founders, investors, and the wider economy.
Meet Paul Brownsey: Leading with Impact
As the Independent Chair of the Investment Committee, Paul Brownsey brings more than three decades of experience across global finance, ethical investment, and capital markets to his role supporting the fund’s General Partner.
Paul began his career at the Reserve Bank of New Zealand before spending 15 years in global investment banking with Salomon Brothers, Citigroup, and Deutsche Bank. In 2009, he co-founded Pathfinder Asset Management, a pioneering ESG-focused investment firm that became one of the first KiwiSaver schemes to invest directly in high-impact venture capital. Under his leadership, Pathfinder was consistently a top performer and a recognised leader in responsible investing.
Following Pathfinder’s acquisition by Alvarium Wealth NZ, Paul served as Chief Investment Officer for both firms, helping scale their ethical investment strategies to over $1 billion in funds under management.
After stepping back in early 2024, he hadn’t planned to return to a full-time role, until the opportunity with Bridgewest Ventures drew him back in.
“What really struck me was the portfolio. These aren’t just high-growth companies. When they succeed, they’re going to save lives and change lives. It’s one of the clearest examples of human and social impact I’ve seen in the New Zealand market.”
Paul’s focus since joining has been on getting the fund off the ground, working closely with the Bridgewest team on structure, policies, investor engagement, and everything in between.
“There’s been a lot to do, but that’s the part I enjoy. I love the challenge of building something meaningful and getting it working in the right way.”
Unlocking Capital to Build Bigger Futures
Bridgewest Ventures has a strong track record of investing its own capital into early-stage science and technology ventures. So why create a fund, and why now?
Paul explains the motivation clearly: it’s about scale, and about extending the firm’s reach.
“The companies Bridgewest invests in start small, but they don’t stay small. As they grow, they need access to much larger rounds of capital to keep progressing. This fund gives Bridgewest the ability to continue backing those companies through the next stages of their journey.”
The fund is designed to expand the pool of available venture capital in New Zealand, especially for deep tech, where timelines are longer, and the path to commercialisation is more complex.
“Bridgewest brings more than money to the table. They’ve got deep technical expertise, global networks, and a track record of spotting gems where others might miss them. Expanding the capital base means backing more ventures, and backing them harder. This Fund is unique, with a portfolio that’s been deliberately built to uncover and accelerate some of the most promising science-led companies in New Zealand.”
The fund is open to wholesale investors only, in line with the regulatory settings and the long-term nature of the asset class.
“This isn’t a product for retail investors. It’s designed for those who understand the risks, and the scale of opportunity that comes with backing breakthrough innovation at the ground floor.”
A Vote of Confidence in New Zealand Innovation
While Bridgewest is headquartered in the US and already represents international capital, the new fund is focused on tapping into New Zealand’s domestic investor base.
“We think there’s still a lot of untapped capital in New Zealand, people who are interested in venture but haven’t yet found the right entry point. We’re seeing more awareness, more sophistication, and more interest in innovation-led investing.”
Paul sees rising interest in innovation-led investing and believes New Zealand is well placed to lead in areas like biotech, advanced manufacturing, and environmental tech.
“We’ve got world-class research institutions and some really strong deep tech ideas. But venture capital here is relatively small, and that creates bottlenecks, especially for companies with longer timelines.”
What gives Bridgewest a unique edge is their ability to take a long-term view, combined with a hands-on, curated approach to building companies.
“They’re selective and focused. It’s not spray and pray. It’s about conviction, and following through.”
He also praises the accessibility and connectedness of the New Zealand startup scene.
“You can pick up the phone and talk to almost anyone. That kind of collaborative environment is a real advantage for early-stage ventures.”
Designed for Long-Term Impact
For Paul, success is about more than returns, it’s about lasting, positive change.
“Yes, we want to see strong exits and deliver great returns to investors. But more than that, we want to see companies that make a meaningful difference to society, to science, and to the economy.”
The vision is to be a consistent, trusted contributor to the venture capital landscape in New Zealand. The current fund has a four-year window: one year to raise capital, and three years to deploy it into new investments. But the ambition extends well beyond that.
“We see this as the first in a series of funds. If we do this well, we’ll help grow the ecosystem, attract new investors, and build a stronger foundation for deep tech in New Zealand.”
With strong leadership, global connections, and a deep bench of scientific ventures already in play, the Bridgewest Ventures fund represents a major step forward for early-stage innovation in Aotearoa, and Paul Brownsey is right at the centre of it.
Learn more about the Bridgewest Venture Fund, and apply to invest today.