Windhaven Investments

What Windhaven Investments does

Windhaven Investments is a family-owned private equity firm established in 2010 as the dedicated investment vehicle of the Spencer Family Group (SFG). The firm is headquartered in Auckland, New Zealand, with a regional office in Brisbane, Queensland, Australia, and is operated by a small senior team led by CEO Ben Unger (a 20+ year veteran of the SFG) and General Manager Georgina Terepai.

The firm holds equity stakes in four disclosed portfolio companies: The Ultimate Care Group (24 aged care facilities and 7 retirement villages across New Zealand), TaxiCharge New Zealand (a founding partner in the country's leading taxi network), eNurse Australia (Australia and New Zealand's largest online B2C procurement provider for nurses), and ProCare Australia (a recruitment firm specializing in social and community services). Windhaven explicitly restricts new investments to sectors connected to its existing portfolio — aged care, retail, and financial services — and maintains board representation across its holdings.

Revenue is not publicly disclosed and the firm does not operate a unified technology platform. As an inter-generational family-office investment vehicle, Windhaven does not raise external capital, does not publish fund performance, and conducts investment activity through direct relationship-based engagement rather than public deal sourcing.

Name

Windhaven Investments

Legal name

Windhaven Investments

Website

https://windhaveninvestments.co.nz

Company type

Private

Founded year

2010

Operating status

Operating

Short description

Windhaven Investments is a family-owned private equity firm and the investment vehicle of the Spencer Family Group, holding equity stakes in New Zealand aged care, transport, healthcare ecommerce, and Australian recruitment companies through offices in Auckland and Brisbane.

Ownership category

akta.pro rank

Product category

Private Equity

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Real Estate Funds — Core-Plus (FSANAEAG)

Keywords

• Private equity investment
• Family-owned investing
• Portfolio management
• Equity holdings
• Aged care investment

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Private Equity Investment Returns: Windhaven Investments generates returns through equity ownership in portfolio companies. The firm takes ownership stakes in businesses across aged care, retail, and financial services sectors, with a focus on long-term value creation rather than quick returns.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Windhaven Investments is a family-owned private equity firm that acquires and manages equity stakes in companies across aged care, retail, and financial services sectors in New Zealand and Australia. It serves as the private equity investment vehicle for the Spencer Family Group, deploying long-term patient capital into businesses connected to its existing portfolio. Current investments include aged care facilities (The Ultimate Care Group), taxi services (TaxiCharge New Zealand), healthcare e-commerce (eNurse Australia), and recruitment services (ProCare Australia).

Product overview

Windhaven Investments is a private equity firm (established 2010) that does not offer a unified product or platform. Instead, it manages a portfolio of distinct portfolio companies across multiple sectors: aged care (The Ultimate Care Group), transportation (TaxiCharge New Zealand), healthcare ecommerce (eNurse Australia), and recruitment services (ProCare Australia). These portfolio companies operate independently, each offering its own products and services to end customers in their respective markets.

Differentiator

Problem solved

Functional benefit

Products and services

• The Ultimate Care Group Owns and operates 24 aged care facilities across New Zealand (19 operated directly, 5 independently operated) and 7 retirement villages, serving elderly residents across New Zealand.
• TaxiCharge New Zealand

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves7 records

Expansion highlights3 records

Regional players

• Anchorage Capital Partners: Australian private equity firm investing in lower mid-market companies. Comparable in taking direct equity in operating businesses across ANZ.
• Adamantem Capital: Australian mid-market PE firm. Comparable in deploying capital into established operating companies in the ANZ region.
• Allegro Funds: Australian mid-market private equity firm. Comparable as a trans-Tasman PE peer operating across similar company sizes and sectors.

Direct peers

• Pioneer Capital: New Zealand private equity manager backing established NZ businesses. Comparable in geography and in providing growth capital to mature operating companies.
• Direct Capital: NZ private equity firm investing in established mid-market businesses. Comparable in function as an NZ PE investor taking meaningful equity positions in operating companies across multiple sectors.
• Catalyst Capital: NZ private equity investor focused on mid-market transactions and succession-led deals. Comparable as a smaller, relationship-driven NZ PE firm.
• Pencarrow Private Equity: New Zealand-based private investment office managing direct equity stakes in NZ businesses. Closely comparable as a domestically-rooted private investment vehicle deploying patient capital into operating companies.

Broad incumbents

• Archer Capital: Established Australian private equity firm with a broader institutional fund base. Comparable as a larger ANZ PE competitor pursuing similar sized direct investments.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Windhaven Investments