Photo: Supplied by Outset
What does it take to start a tech company with global impact like a Rocket Lab or a LanzaTech?
Outset Ventures has just closed its second fund, announcing today it's raised $41 million.
The company is run out of a warehouse in Auckland, credited as the birthplace of Rocket Lab. The Government's Elevate fund has tipped in $15 million.
Outset puts money into deep tech companies that aim to solve scientific or engineering problems.
They often have long periods of research and development and their solutions are difficult to reproduce.
The commonly referenced examples in this country are Rocket Lab, LanzaTech and more recently - Open Star Technologies - the New Zealand company working to scale nuclear fusion using hydrogen.
Outset was the first venture fund to put money into Open Star and it now wants more companies of its ilk here in New Zealand.
Angus Blair led Outset's investments with its first fund and is set to do the same with this new one.
