New Ground Capital
New Ground Capital is a privately held New Zealand impact investment firm that operates a vertically integrated Build-to-Rent housing and impact fund management platform, serving institutional investors, iwi organizations, government entities, and community trusts with over 1,000 homes completed or underway.
- Company typePrivate
- Founded2014
- HeadquartersAuckland, New Zealand
- Headcount1–10
- GTM typeB2B
- OfferingServices
What New Ground Capital does
New Ground Capital is a privately held New Zealand impact investment firm founded in 2014 and headquartered in Auckland, specializing in institutional Build-to-Rent (BTR) housing and impact fund management. The company operates a vertically integrated platform that spans investment management, project origination, development management, and property management through wholly owned subsidiaries including New Ground Living and New Ground Property Management Ltd. Since completing its first BTR development in 2017, it has grown to manage more than 1,000 homes either completed or underway across Auckland, Bay of Plenty, Queenstown, Hawke's Bay, Marlborough, and Dunedin, maintaining occupancy above 99%.
The firm's core products are institutional Build-to-Rent housing developments (purpose-built rental communities with 3-10 year leases and Homestar 7-8 sustainability certifications) and a suite of impact investment funds. These include the Impact Enterprise Fund (co-founded in 2017 with Ākina and Impact Ventures as New Zealand's first domestically focused impact investment vehicle), the Homes for Tamariki Fund (established 2022 to purchase homes leased to government for vulnerable children), and the Bay of Plenty Housing Equity Fund (a NZ$45 million collaborative venture for which New Ground was appointed investment manager in 2023). Project Services is offered as a third-party development management capability covering feasibility, design, consenting, procurement, capital structuring, and property management.
Revenue is generated through three streams: investment management fees on managed funds and BTR vehicles, development management fees for third-party and JV projects, and property management fees through New Ground Living. Pricing is relationship-based and not publicly disclosed, with a stated NZ$50,000 wholesale investor minimum on the Homes for Tamariki Fund. Customers include institutional investors, iwi organizations (Ngāi Tahu Property, Hāpai Housing), government tenants (New Zealand Defence Force, Tauranga City Council), and community trusts (BayTrust, Queenstown Lakes Community Housing Trust). No proprietary technology platforms or AI/ML capabilities are identified.
New Ground Capital firmographics
Firmographics- Name
- New Ground Capital
- Legal name
- New Ground Capital
- Website
- https://newground.co.nz
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- New Ground Capital is a privately held New Zealand impact investment firm that operates a vertically integrated Build-to-Rent housing and impact fund management platform, serving institutional investors, iwi organizations, government entities, and community trusts with over 1,000 homes completed or underway.
- Ownership category
- akta.pro rank
New Ground Capital industry classification
Industry- Product category
- Impact Investment Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (52591), Portfolio Management and Investment Advice (523940), Nonresidential Property Managers (531312)
- SIC
- Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)
- akta.pro primary industry
- Real Estate Funds — Core-Plus (FSANAEAG)
Keywords
Where New Ground Capital is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices2 records
Markets served
New Ground Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Investment Management Fees: Fees charged for managing investment vehicles for institutional investors, including setup, ongoing management, and performance fees.
- Development Management Fees: Fees for comprehensive development management and project management services provided to third parties across housing, mixed-use developments, and land subdivisions.
- Property Management Fees: Through New Ground Living subsidiary, fees earned from managing rental properties with a people-centered philosophy and proven approach to tenant retention.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Homes for Tamariki Fund - wholesale investor minimum investment |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
New Ground Capital product offering
Product offeringCore offering
New Ground Capital invests capital in real-world solutions in New Zealand, primarily through build-to-rent (BTR) housing developments and impact investment funds. The firm offers institutional and wholesale investors exposure to BTR housing, manages impact funds (Impact Enterprise Fund, Homes for Tamariki Fund, Bay of Plenty Housing Equity Fund), and provides development management and property management services through its subsidiaries New Ground Living and New Ground Property Management Ltd.
Product overview
New Ground Capital is an impact investment firm offering a vertically integrated platform for build-to-rent housing and impact investing in New Zealand. The core product is Build-to-Rent housing developments managed through New Ground Living for property management. The company operates three main investment products: the Impact Enterprise Fund (NZ's first domestic impact fund), the Homes for Tamariki Fund (housing for vulnerable children), and the Bay of Plenty Housing Equity Fund. Development Services are provided through an in-house team offering project management, feasibility, design, and property management to both New Ground-managed entities and third parties. The portfolio includes completed developments such as Kerepeti (Hobsonville Point), Moroki (Glen Innes), Kaweka (Mt Albert), Toru Apartments (Queenstown), and Houkura (Whenuapai), with future developments in the Bay of Plenty, Hawke's Bay, Marlborough, Queenstown, and Dunedin.
Differentiator
Problem solved
Functional benefit
Brands
- New Ground Living: Specialized property manager with a people-centred philosophy, managing residential rental properties and communities for New Ground Capital.
Products and services
- Build-to-Rent Housing Institutional build-to-rent housing developments offering long-term rental properties with 3-10 year security of tenure, pet-friendly policies, and professional management through New Ground Living. The core investment product for institutional and wholesale investors.
- Project Services / Development Management Comprehensive development management services including full project management, feasibility assessments, design and consenting, consultant and contractor procurement, capital structuring and raising, origination, and property management for third-party clients including government entities, iwi organisations, and community housing providers.
- Impact Enterprise Fund New Zealand's first domestically focused impact investment fund providing growth capital to businesses generating positive social and/or environmental impact alongside competitive financial returns. Invested in ventures including Melon Health, Grounded Packaging, ZeroJet, CertusBio, Tether, Cropsy Technologies, and CarbonCrop.
- Homes for Tamariki Fund Investment vehicle that purchases existing homes throughout New Zealand and leases them to the government for care and accommodation of vulnerable children and young people, targeting quarterly dividends exceeding 4% p.a. from government rental income. Operated through subsidiary Homes for Tamariki Limited.
- Bay of Plenty Housing Equity Fund A $45 million collaborative venture between five community organisations (BayTrust, Trust Horizon, Rotorua Trust, TECT, and Tauranga City Council) to deliver affordable housing solutions in the Bay of Plenty region. Managed by New Ground Capital alongside co-investment manager Brightlight.
- Green Build to Rent Housing (Future Pipeline) Future build-to-rent housing development opportunities with a strong project pipeline across the country (Bay of Plenty, Hawke's Bay, Marlborough, Queenstown, Dunedin), open to institutional and wholesale investors seeking green, sustainable rental housing investments.
- New Ground Living Property Management Wholly owned property management subsidiary delivering residential rental management and leasing for BTR developments with a people-centred philosophy and proven approach to tenant retention, including 99%+ occupancy performance. Applications available via newgroundliving.co.nz.
Quantifiable outcome
- 99%+ occupancy rate across BTR developments
- +4 more outcomes
Companies that use New Ground Capital
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
New Ground Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
New Ground Capital partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and major.
- Ka Uruora AotearoacoreFunding and wrap-around support provider for tenants at Moroki development, working with Hāpai Housing to provide 22 affordable rental homes at 10-20% below market rate.
- Hāpai HousingcoreIwi-owned housing collective partnered for Moroki BTR development (50 homes) and Kaweka development (44 homes). Hāpai provides unique Māori housing focus while New Ground manages development and property.
- Mike Greer CommercialmajorBuild partner for Moroki and Kaweka BTR developments, delivering quality construction with sustainable technologies and materials.
- ĀkinacoreFounding partner of Impact Enterprise Fund, NZ's first domestically-focused impact investment fund. Ākina is NZ's leading impact development organisation building capability for impact businesses.
- Impact VenturescoreFounding partner of Impact Enterprise Fund with significant investment banking experience providing expertise in deal evaluation, structuring, capital raisings, and M&A.
- Ngāi Tahu PropertycoreDevelopment manager for the Hobsonville Point Kerepeti project, acting as the development arm of the partnership. Ngāi Tahu Property brings Māori development expertise and community connection.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
New Ground Capital competitors and assessment
Company assessmentRegional players
- Get Living: UK build-to-rent developer and operator specializing in large-scale, purpose-built rental communities with institutional capital partners. Strongly comparable BTR operating model (vertically integrated development, investment, and property management) but serving the UK market rather than NZ.
- Quintain: UK-based build-to-rent developer best known for the Wembley Park master-planned community. Comparable vertically integrated BTR investment and operating platform with institutional capital backing, focused on UK rather than NZ market.
Direct peers
- Oyster Property Group: NZ-based build-to-rent developer and operator focused on purpose-built rental housing. Direct peer to New Ground Capital's BTR model, serving similar institutional investors and operating in overlapping Auckland geographies, though Oyster leans more into urban infill apartments.
- Brightlight: NZ commercial impact investment manager. Direct peer in NZ impact fund management and co-investment manager with New Ground on the BOP Housing Equity Fund; comparable in target market (impact capital deployment in NZ) and fund structure though less specialized in real estate.
- Generate: NZ build-to-rent specialist developing and managing rental housing communities. Direct competitor in the NZ institutional BTR space with comparable purpose-built rental product targeting similar demographic and tenant profiles.
Broad incumbents
- Stride Property Group: NZX-listed NZ diversified property group with industrial, retail, and office holdings plus a residential development joint venture. Comparable as an institutional NZ real estate investor with cross-sector exposure, though BTR is not its primary focus.
- Argosy Property: NZX-listed NZ diversified property investor with industrial, office, and large-format retail assets. Comparable as an institutional NZ property platform and NZX-listed real estate peer, though focused on commercial rather than residential BTR.
- Greystar Real Estate Partners: Global leader in rental housing with extensive build-to-rent investment, development, and property management operations across the US, UK, Europe, and Asia-Pacific. Comparable business model — vertically integrated BTR investment and operating platform — at vastly greater scale; a likely strategic competitor or partner for New Ground as international BTR players enter NZ.
- Kiwi Property Group: NZX-listed large-cap NZ property investor and developer with a diversified portfolio of retail, office, and mixed-use assets. Comparable as an institutional NZ real estate platform but with much larger scale and a broader investment mandate that only partially overlaps with New Ground's BTR focus.
- Precinct Properties: NZX-listed NZ commercial property developer and investor focused on premium Auckland office and mixed-use assets. Recently hired New Ground's former development lead Matt Heal, signaling competitive overlap. Comparable as institutional NZ real estate platform though focused on commercial rather than residential BTR.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
New Ground Capital social profiles
Digital presenceNew Ground Capital compliance and trust
Trust signalCompliance2 records
New Ground Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
New Ground Capital leadership team
Management profileNumber of profiles
Profiles13 records
New Ground Capital subsidiaries and ownership
Company hierarchySubsidiaries3 records
New Ground Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New Ground Capital M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New Ground Capital
What does New Ground Capital do?
New Ground Capital invests capital in real-world solutions in New Zealand, primarily through build-to-rent (BTR) housing developments and impact investment funds. The firm offers institutional and wholesale investors exposure to BTR housing, manages impact funds (Impact Enterprise Fund, Homes for Tamariki Fund, Bay of Plenty Housing Equity Fund), and provides development management and property management services through its subsidiaries New Ground Living and New Ground Property Management Ltd.
Is New Ground Capital a public or private company?
New Ground Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was New Ground Capital founded?
New Ground Capital was founded in 2014. It employs 1 to 10 people.
Where is New Ground Capital based?
New Ground Capital is headquartered in Auckland, New Zealand, in the Oceania region.
How does New Ground Capital make money?
Three revenue lines are on record. Investment Management Fees are the primary driver. The others are development Management Fees and property Management Fees.
Who are New Ground Capital's main competitors?
Regional players on record are Get Living and Quintain. Direct peers are Oyster Property Group, Brightlight and Generate. Broad incumbents are Stride Property Group, Argosy Property, Greystar Real Estate Partners, Kiwi Property Group and Precinct Properties.
Does New Ground Capital have an API?
No public API is recorded for New Ground Capital.
What industry is New Ground Capital in?
New Ground Capital's product category is Impact Investment Management. Its primary akta.pro industry code is FSANAEAG, Real Estate Funds — Core-Plus. Its NAICS code is 525 and its SIC code is 6799.