New Zealand Tech Ecosystem – Report 2026

Mapping the VC-backed tech ecosystem of New Zealand, in collaboration with NZ Growth Capital Partners. New Zealand's tech ecosystem is now worth NZ$133B, home to 8 unicorns and 2 decacorns, built on less than NZ$13B of venture capital.

Key findings

• New Zealand's VC-backed startups are now worth a combined NZ$133B, 87% of the country's NZ$152B tech ecosystem.
• New Zealand returns 10.89x enterprise value per dollar of venture capital, the highest ratio of the ten OECD countries compared.
• At NZ$26K of VC-backed enterprise value per capita, New Zealand sits seventh of ten comparable economies, behind Israel's NZ$99K.
• Startups raised NZ$2.4B in 2025, the second-highest year on record, with mega-rounds accounting for most of the increase.
• New Zealand has produced eight unicorns and two decacorns on less than NZ$13B of venture capital raised since 2000.