Investing in kiwi start-ups
EHF Fellow, Adrien Gheur, wants to invigorate NZ’s entrepreneurial ecosystem.
It’s no secret that New Zealand is home to a large pool of talented, visionary entrepreneurs who have the potential to turn our small country into an innovation hub. But as many Kiwi start-ups know, it can be difficult to gain access to founder-friendly funding, connections to international markets, and quality mentorship. This has the potential to halt progress in its tracks.
Fortunately, New Zealand’s government recently launched an investment fund with plans to attract seasoned, international investment managers to come to the country and invest in the Kiwi startup ecosystem.
EHF Fellow, Adrien Gheur’s new venture, Nuance Ventures, is exactly the kind of investment firm they had in mind.
Stimulating the NZ economy
Nuance helps exceptional New Zealand entrepreneurs build world-class companies by providing them with early-stage capital, company building expertise, and strategic access to global markets.
This is not the first time Adrien has helped a country find its entrepreneurial feet. He has more than 20 years of investment and company-building experience and has led venture capital, private equity, and hedge fund groups around the world.
Most recently he co-founded an early-stage venture fund based in Singapore called Maloekoe Ventures which invests in innovative startups solving big problems in Southeast Asia. This search for innovation is what led Adrien to New Zealand where he saw a wealth of founder talent and solutions yet an ecosystem in dire need of growth capital and connectivity to large markets.
“It became evident to me immediately that these two ecosystems needed to connect in a meaningful way.” he explains, “New Zealand has the innovation, Southeast Asia has the large, fast-growing markets.”
Adrien’s vision for Nuance is to build on this thesis of “bringing Kiwi ingenuity to the world” by putting together a team of seasoned entrepreneurs and investors with complementary networks in Southeast Asia, US and Europe, to offer Kiwi entrepreneurs a springboard to scale their businesses overseas.
“I believe New Zealand, despite its small size, can be a global hub of innovation on par with the likes of Singapore, Israel, Sweden, etc. It has all the qualities necessary but just needs access to the right capital and global connectivity.”
Investing in the right companies
Of course, the quality of companies that are brought off the ground matters much more than the quantity. Adrien has a personal set of criteria for the kind of ventures he invests in and founder qualities he looks for. First on his list are hunger and tenacity balanced with humility and compassion.
“Now it might sound funny, an investor talking about compassion, because there is a misconception many entrepreneurs have that investors only care about money — they only care about returns. They don't care about what founders are going through or their struggles.”
But that’s not the case with Adrien. In fact, he got into venture funding because he earnestly enjoys working with entrepreneurs and helping them achieve their visions to build amazing things.
“The startup journey is a very painful one, but it can also be a very fulfilling one. You deal with all ranges of human emotion and risk and perseverance.”
At the end of the day, what matters to Adrien is the entrepreneurs intentions. Why are they building their company? What big problems are they solving? What are the solutions they want to create? Are they really trying to make an impact?
“I'm always careful about using that word, “impact”, because it's a bit overused. But impact is not something you say,” Adrien explains, “it's a result of what you do.”
Adrien also depends on something that a lot of investors overlook: instinct.
“Many tend to think of investing as all very rational and analytical but if you look at the great investors there's a lot of instinct involved. So, I have this concept of structured intuition.”
It was that structured intuition that led Adrien to leap at the chance to start his next venture in NZ.
Why invest in New Zealand ventures?
After becoming an EHF fellow in 2018, Adrien had the opportunity to connect with a wide array of Kiwi entrepreneurs who he found to possess unprecedented passion and innovation. But he also grew familiar with tragic stories of incredible founders and their ideas suffocating because they didn’t have the right funding or connections. To Adrien, the solution was simple: open the door for more funding opportunities and more international connections. He began making plans for Nuance and with the latest wave of government initiatives, he took the leap.
Last year, he made a decision to uplift his life in Singapore and move his family to New Zealand. He also gave up his responsibilities with Maloekoe Ventures to focus on Nuance full-time.
“I'm taking a career risk, personal risks — you name it. But just like these amazing entrepreneurs, you have to take these kinds of risks if you want to achieve great things.”
The impact of COVID-19: Risks and opportunities for Kiwi entrepreneurs
Right now the risk feels a little bigger than expected as COVID regulations keep him from entering New Zealand, but Adrien says that Nuance is still moving forward.
Looking at the bright side, Adrien comments that COVID has actually helped improve New Zealand’s draw for international investors because of its outstanding response to the pandemic. It has also expedited the digital transformation of many industries and set a precedent for how long-distant working relationships are possible in the digital age.
Still, Adrien is eager to start living in his new home in the Bay of Plenty in the country that he has fallen in love with.
“Aotearoa New Zealand just called out to me. I can't even put my finger on it — Why is it calling out to me? But it's saying you belong here.”
Having lived in eight countries on four continents in his life, Adrien has always struggled with where his roots truly lie. But now, he says, New Zealand feels like a permanent home.
“I love that it does its own thing. It punches above its weight, you know? Despite its small size, it has done amazing things. And that inspires me.”
How to get involved
Nuance plans to be fully operational in January 2021. They are currently looking for investors, entrepreneurs, and team members who want to join them in achieving their vision. Learn more at www.nuance.vc
Journey with us
Impact is a journey and it doesn’t happen in a vacuum. It takes a group of inspired, committed, and informed individuals to get a world-changing idea off the ground. You can help amplify EHF Fellow impact as they work to develop solutions to some of humanity’s biggest problems. Here is how you can join us in this work as we journey together on a path to a better world:
Stay informed - Read, learn, watch, and stay up to date on the latest in impact innovation by signing up for our newsletter.
Amplify our impact - Share our impact stories with your networks and connect with our Fellows. Learn more about their projects here.