Investor eyes Kiwi start-ups
A fondness for backing ‘‘outsiders’’ drew venture capitalist Rob Vickery to Waikato, writes Aaron Leaman.
Waikato entrepreneurs with a hunger for tackling society’s most urgent problems could soon find it easier to attract willing investors.
International venture capitalist Rob Vickery immigrated to New Zealand from the United States eight weeks ago after seeing an opportunity to help take Kiwi start-ups to the next level.
His plan is to raise a fund of about $40 million and make 20 investments over the next few years.
A tendency to back ‘‘outsiders’’ convinced him to base his company, Hillfarrance Venture Capital, in Hamilton.
‘‘Most of the investments I’ve made are in people overlooked by my industry,’’ Vickery said.
‘‘Half of my investments are in companies founded by women, people of colour, immigrants, gay and transgender entrepreneurs. I don’t choose people because of that, but I seem to be drawn to people who hustle in a different way.’’
Vickery worked as a venture capitalist in Los Angeles for 10 years after immigrating to the US from the United Kingdom. His previous roles included acting as a business consultant to British music duo Eurythmics.
While Vickery will be looking for investment opportunities across New Zealand, Waikato’s reputation for producing top graduates has caught his attention.
‘‘Here you’ve got a university churning hundreds, hopefully thousands, of people coming out with degrees in artificial intelligence, engineering, in machine learning.
‘‘So I actually think they’re going to come up with some really cool ideas.’’
Labour Hamilton East MP Jamie Strange first spoke to Vickery while he was considering relocating to New Zealand.
‘‘Basically my role was to encourage him to come to our region,’’ Strange said.
‘‘I’m pleased he’s chosen to set up his company’s headquarters in Hamilton. For me, this is just another sign of Hamilton coming of age as a city. The benefits of collaboration between Hillfarrance and local companies and individuals really is significant.’’
Vickery said he’s interested in investing in ventures that can only be done today – not two years ago. Problems ripe for solving include climate change and how to prevent toxic chemicals getting into the water table. Covid-19 has also changed how people buy products, therefore opening up opportunities in e-commerce.
David Hallett and Jeremy Hughes, founders of Hamilton-based software specialist Company-X, are investing an undisclosed amount into Vickery’s fund. The pair will also provide support and advice to start-ups around their technology needs.
‘‘We’ve been working in the start-up space for decades . . . people building ideas, but of course the issue has always been capital constraint,’’ Hallett said.
‘‘Most of the people that we’ve dealt with have sold their houses.’’
Law firm Tompkins Wake has come onboard to provide legal support to entrepreneurs backed by Vickery and other investors.
‘‘Ultimately, what Hillfarrance is all about, it’s not about the cash, it’s about the community you get as part of receiving money from us,’’ Vickery said.
Te Waka board chair Hamish Bell said Vickery will bring an
‘‘Most of the investments I’ve made are in people overlooked by my industry.’’
Rob Vickery
international perspective to investment opportunities.
Te Waka, the region’s economic development agency, could play an enabling role in helping connect capital with the right start-ups, Bell said.
Bell, a former chairman of the New
Zealand Private Equity and Venture Capital Association, has also heard talk of others looking to create funds which could benefit Waikato entrepreneurs.
‘‘I know there’s talk about a technology fund establishing in the Waikato and there’s talk about a social investment fund . . . and a private equity fund being based in the Waikato. The more funds we see established the better,’’ Bell said.
‘‘I come from a venture capital, private equity background and a lot of people mystify this industry. The reality is it’s about connecting great ideas and great people with talent that helps and with capital.’’
Strange said the tech sector already plays a crucial role in Waikato and New Zealand’s economy but often goes ‘‘unseen’’.
The strength of Waikato’s economy is its growing diversity, Strange said.
‘‘One of the reasons why the Waikato economy has been so resilient during
Covid-19 is because of the strong agricultural sector, the building and construction sector, the manufacturing sector and the tech sector.’’
Waikato Chamber of Commerce chief executive Don Good has spoken with Vickery and said basing his fund in
Hamilton represents an exciting development.
‘‘We would welcome him into the business community here. There’s probably a whole bunch of businesses around here who would be of interest to Rob [Vickery] over the next wee while.’’
In simpler times you’d find Fairfield College’s principal mingling with a crowd of students and staff. But in March, Richard Crawford’s usual face-to-face engagement, like many others, was replaced with phone calls, zoom chats, emails sent at ‘‘ridiculous hours’’ and many Plan Bs.
It was a stressful time for students, staff and the community, but it was Crawford’s ‘‘constant communication’’ that kept Fairfield College in a ‘‘healthy state of mind’’, many board members and staff say.
It’s for that reason, Crawford was selected as one of six principals across New Zealand to receive a 2020 National Excellence in Teaching Award.
With 31 years of experience in the teaching profession, Crawford came to the, then, decile three school in 2012, having been principal at Forest View High School in Tokoroa for five years.
At the time Fairfield College was in statutory management, had declining pupil numbers, grades, attendance, and a downwards spiralling reputation.
Since then, he has worked tirelessly with the community, staff, and Nga¯ ti Wairere to rekindle the school’s mana and take away many educational barriers’ youth face.
In 2018, he went against teaching NCEA Level 1, focusing instead on making NCEA level 2 a two-year qualification. That same year, the school changed from teaching five one-hour lessons a day to three 90-minute classes.
He was also a leader in pushing for New Zealand history to be taught in schools and implementing tikanga Ma¯ ori principles.
This week Crawford received the NEiTA Founders’ Principals Award for Leadership virtually amongst staff, students, Nga¯ ti Wairere representatives, and wha¯ nau at the school’s wharenui.
‘‘I nominated Richard,’’ Lorelle Snowdon quietly told Stuff before the ceremony.
As Crawford’s personal assistant, Snowdon has seen how hard Crawford has worked over the years and more recently during the Covid-19 pandemic.
However, while going through the application process she realised a staff member couldn’t make a nomination, so instead got the Board of Trustees involved.
Board chairperson Darise MacKenzie said they instantly thought it was a great idea and began writing up a letter of recommendation and compiled statistics to show that the disadvantages of Covid-19 hadn’t affected student grades.
‘‘As a board going through Covid there was a lot to deal with and a lot to take in and Richard was outstanding,’’ MacKenzie said. ‘‘The phone calls that I would have, where he’d say if the announcement went this way I’ve got this planned or this planned. It was really reassuring that the school was in such good hands, and first and foremost it was about the wellbeing of our staff and students and our community.’’
She said they didn’t tell him for a long time about the nomination until they had to, because they knew he wouldn’t like it, deeming it a team effort.
‘‘We know it was a team effort, and I do want to thank the staff, because I know the effort they put in, but I also know Richard allowed that to happen, and his leadership style allowed all our staff to flourish and shine.’’
Crawford said his colleagues were wise not to tell him.
While he is honoured to receive the award, he still believes there were other Waikato principals more deserving of the award.
‘‘I think all principals have had a focus on wellbeing, it’s not just Fairfield College. I’m the lead principal of Te Pae Here and for each one of those 18 school principals’ wellbeing is important,’’ Crawford said.
‘‘However, this year has given us the opportunity to put into practice what we knew was important, and what was stated in our charter.
‘‘Covid-19 actually put us in the position where what we were saying and what we were writing, was actually what we were doing.’’
As part of the award, Crawford will also receive a crystal apple trophy, a certificate, and a $10,000 professional development grant.
Crawford said he plans to use that money on learning new methods to move away from
Academic streaming — a common educational model that research shows disadvantages many students, particularly Ma¯ ori and Pasifika.
‘‘I want to endorse what was said in the whakataukı¯ (proverb) during the ceremony.
‘‘Ehara taku toa i te toa takitahi basically saying my success is not mine alone.
‘‘Engari he toa takitini, it’s a whole lot of efforts within the collective. That’s what I want to endorse.’’