New Zealand Tech Ecosystem 2025

An in-depth analysis of New Zealand's tech ecosystem, in partnership with NZ Growth Capital Partners.

Key findings

• New Zealand's tech ecosystem is worth NZ$129B, and about 77% of that value comes from its three biggest VC-backed companies.
• New Zealand has produced three decacorns - Xero, FNZ and Rocket Lab - ninth most of the ecosystems ranked, on NZ$10B of VC raised since 2000.
• New Zealand startups raised NZ$643M in 2024 and NZ$1.2B in 2025 through July, the second-highest annual total on record after 2022.
• New Zealand startups drew NZ$1.5K of VC per capita since 2019, eighth of the ten OECD countries compared and far below Israel's NZ$11K.
• New Zealand universities have produced more than 70 spinouts worth a combined NZ$2.2B, up from NZ$151M in 2019.