Previously Unavailable Fund 2
Previously Unavailable Venture Fund 2
Previously Unavailable Venture Funds are a Sequential Fund Series providing investors the opportunity to invest alongside PU in the high-potential early-stage ventures we choose to work with and invest in during each fund's season.
PU Venture Fund 2 - the second of these venture portfolios represents PU's investment opportunities between 1st April 2023 and 31 March 2025.
Previously Unavailable Venture Fund 2 is now fully invested, but remains open to new investors in the PIE. Please get in touch if you are interested in the opportunity to invest in this portfolio.
Current Investments
Accelerating first-home buyers to their deposit, faster
Aera uses developer commissions and new builds to help first-home buyers reach a deposit and homeownership faster.
World-first green CO2 and heat technology for commercial greenhouses
Aplenty converts wood waste into clean CO2 and low-cost heat for greenhouse growers — increasing crop yields by up to 10%, reducing emissions by 90%, and giving growers full control over heating costs. Proven technology, already operating at the first customer site, and ready to deploy at scale.
The venture fund that backs companies where brand defines the winner
Brand Fund 2 is a continuation of the partnership between Previously Unavailable and Icehouse Ventures, built on a single conviction: in the right company, brand isn't a cost - it's the compounding advantage that separates category leaders from the rest.
The employee benefits platform
Extraordinary makes employee benefits, rewards and transport simple, serving more than 50,000 people across leading businesses.
The AI business management platform built for recruitment agencies
Kamal gives recruitment agency leaders a 360-degree view of performance across financials, gross margin, fill rates, and consultant productivity - all in one place. By replacing manual reporting and external advisors with automated AI-powered analytics, it helps agencies identify where money is made, cut inefficiencies, and build a measurably more profitable business.
The future of marketing performance
Lumos combines OOH and digital media planning and buying, and has more than doubled revenue since our first investment.
Tracking work in the AI age
Manifest tracks time, tools and tokens for creative businesses, helping agencies understand how work gets made.
The venture studio creating the martech stack of the future
New+Improved Ventures is a venture studio focused building B2B SaaS marketing technology companies from the ground up. The team behind Tracksuit, Ideally, Aether and Drumbeat, they combine deep marketing expertise with proven startup commercialisation skills to find the next category-defining opportunity.
The New Zealand fusion energy company making abundant power possible
OpenStar is commercialising the levitated dipole - a uniquely stable, simple, and modular approach to fusion energy inspired by Earth's own magnetosphere. Founded in Wellington, the team achieved first plasma in just two years on a lean budget and is targeting commercial fusion within five years, with a world-class scientific team led by the global authority on levitated dipole research.
Orchestrating modern insurance operations
Simfuni is building a platform to change how customers and businesses deliver and experience insurance.
Regulated industry communications
Spoke uses AI to help large international businesses improve communications, compliance and performance.
Making solar work after dark for Kiwi homes and communities
SUPA builds large solar and battery systems on schools, farms, and businesses, then sells the surplus power directly to New Zealand households. Site hosts earn revenue, buyers get stable clean energy, and the profits stay local. A smarter, decentralised energy network built for the country's future.
One platform uniting Tech Business Management and FinOps for the AI era
Yarken gives CIOs and IT finance leaders complete visibility across cloud, SaaS, infrastructure, and AI spend, unified into a single source of truth. With agentic AI, no-code workflows, and finance-grade analytics, it's the platform recognised by Gartner for helping enterprises move faster, invest smarter, and stay ahead of technology cost complexity.
Investment Committee
James Hurman
Chair & Founder
Previously Unavailable
Previously Unavailable
Simon Pound
GP Brand Fund.
Co-CEO Previously Unavailable
Co-CEO Previously Unavailable
Chris Paykel
Co-CEO
Previously Unavailable
Previously Unavailable
Backing the Brands of Tomorrow
Get in touch
We take on select projects, working with companies who are inventing or reinventing. If there’s a project you’d like to talk to us about, please get in touch.
