Māori investment fund Te Puia Tāpapa has invested $10 million into the non-bank lender to help fund its growth.

Te Puia Tāpapa is a direct investment fund made up of 26 iwi and Māori entities, established with the intent to protect, grow and diversify its asset base with a long-term, 15-20 year view.

Paul Majurey, Te Puia Tāpapa’s chairman says, “Our ultimate goal for Te Puia Tāpapa is to provide long-term wealth to our Te Puia Tāpapa whanau.”

“We believe our participation in the continued growth and success of Avanti Finance will help achieve that. Its 30-plus years of profitable, sustainable and community-focused growth demonstrates an excellent long-term investment opportunity for us.”

The $10 million is part of a $50 million capital raise which was supported by existing shareholders as well as some new ones.

Stephen Massey said 

Avanti Finance chief executive Mark Mountcastle said: “We’re excited to welcome Te Puia Tāpapa as a shareholder and look forward to developing a strong and beneficial long term relationship consistent with the fund’s values and purpose.”

“Avanti is a New Zealand company so to be joined by Te Puia Tāpapa as representatives of indigenous New Zealand feels like a perfect fit for us.

Te Puia Tāpapa has also invested in TR Group, the largest truck and trailer lease and rental provider in New Zealand.

Te Pūia Tāpapa has $115.5m available for co-investment in large-scale New Zealand businesses and assets.

Its investors represent diversity of scale and geography comprising Iwi and Māori entities located in Te Tau Ihu (Nelson-Marlborough), lower and central North Island, Taranaki, Waikato, Bay of
Plenty, Hauraki, Northland, Auckland and Wharekauri (Chatham Islands). The Te Pūia Tāpapa investment approach is different to a typical New Zealand private equity fund. It reflects the Māori
long term world view, with generational investment periods of 15-20 years.

Te Pūia Tāpapa is a preferred partner of NZ Super Fund and seeks similar partnerships with other highly regarded investors.