Bridgewest Venture Fund I LP has successful first close of approximately NZ$60.2 million from a group of institutional investors, family offices, high-net-worth individuals, and international migrant investors, positioning the Fund as one of the leading gateways for offshore capital seeking exposure to Australia and New Zealand's rapidly emerging deep-technology ecosystem. With this validation and strong support from New Zealand investors, Bridgewest Ventures is now raising funds from sophisticated US investors.

Bridgewest Ventures also expects growing interest from U.S. and Australia-based investors seeking geographic diversification away from increasingly crowded North American, European, and Asian venture markets.

As part of its international expansion strategy, Bridgewest Ventures has also commenced fundraising activities in Australia following the recent granting of an Australian Financial Services Licence (AFSL). The Australian distribution strategy is being led by John van der Wielen, Senior Adviser to Bridgewest Group, and will include a June 2026 investor roadshow targeting sophisticated investors, family offices, private wealth advisers and institutional capital partners across key Australian markets.

"Global investors are actively looking for differentiated markets where innovation quality is high but capital competition remains relatively low," said Saum Vahdat, Chief Executive Officer of Bridgewest Ventures. "New Zealand and Australia are producing globally relevant intellectual property in sectors such as life sciences, medical technology, advanced materials, artificial intelligence, and clean technology — yet the market remains significantly undercapitalized relative to the quality of innovation being developed. We believe this creates a compelling asymmetry for sophisticated investors."

Bridgewest Ventures operates with a hybrid model that combines U.S.-grade investment discipline and global operating capability with an established local New Zealand and Australia presence and sourcing network. Parent company Bridgewest Group has more than 25 years of experience building and investing in growth companies across seven countries.

Unlike many traditional venture funds that operate as passive financial investors, Bridgewest Ventures emphasizes active operational engagement intended to reduce execution risk and accelerate commercialization pathways for portfolio companies.

The firm focuses on identifying proprietary opportunities within New Zealand and Australia's innovation ecosystem at an earlier stage than what many international investors can access directly. Bridgewest Ventures then works actively with portfolio companies to de-risk technology, strengthen governance, expand commercial capability, and create pathways into larger global markets.

"Our strategy is built around discovering and developing companies before they become visible to broader international capital markets," said Paul Brownsey, General Partner of Bridgewest Venture Fund I.

"We believe New Zealand and Australia represent one of the more overlooked innovation markets globally. Through our local operating presence, proprietary sourcing network, and active management model, we aim to help companies scale internationally while giving our limited partners exposure to growth opportunities that are often unavailable in larger, more efficient venture markets," added Brownsey.

Bridgewest Ventures has committed approximately NZ$6.0 million of its own capital into the Fund on the same terms as external investors, reinforcing alignment between the manager and limited partners.

The Fund remains open for additional commitments through Q4 2026 and is targeting total commitments of NZ$100 million.

Bridgewest Ventures invests across sectors including:

• Life Sciences
• Medical Technology
• Artificial Intelligence
• Advanced Materials
• Clean Technology

By connecting international capital with New Zealand-originated innovation, Bridgewest Ventures aims to help companies expand globally while supporting high-value employment, export growth, and commercialization of intellectual property developed within New Zealand's research and technology sectors.