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The Venture Codex

Altered Capital

54 Mackelvie Street, Auckland, 1021, New Zealand

Overview

Venture capital firm investing in technology, healthcare, and finance.

Deals · 12mo

5

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Japan
New Zealand

Sector focus

—

Investment portfolio

7rounds
NAMEDATESIZE
First Table
Sep 2026Participated
$10 MOther Equity
OneReg
May 2026Led
$4 MSeries A
Ideally
Apr 2026Participated
$7 MSeries A
Contented
Feb 2026Led
$3 MSeed
Alpaca
Jan 2026Participated
$190 MSeries D
Starboard Maritime Intelligence
Sep 2025Participated
$14 MSeries A
Starboard Maritime Intelligence
Apr 2024Led
$3 MSeed
First Table
Sep 2026Participated
$10 MOther Equity
OneReg
May 2026Led
$4 MSeries A
Ideally
Apr 2026Participated
$7 MSeries A
Contented
Feb 2026Led
$3 MSeed
Alpaca
Jan 2026Participated
$190 MSeries D
Starboard Maritime Intelligence
Sep 2025Participated
$14 MSeries A
Starboard Maritime Intelligence
Apr 2024Led
$3 MSeed
7
Items
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Insights

Time horizon

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Deal Distribution

Altered Capital: 7 funding rounds are recorded in the selected participation categories.All available history.
Altered Capital: 7 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed20
Series A12
Series C+01
Other Equity01

Monthly Deal Activity

Altered Capital: 7 deals are recorded across 31 months.All available history.
Altered Capital: 7 deals are recorded across 31 months. All available history
MonthDeals
Apr '241
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '261
Feb '261
Mar '260
Apr '261
May '261
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Altered Capital: Enterprise Software is the largest displayed sector by deal count (4 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Altered Capital: Enterprise Software is the largest displayed sector by deal count (4 deals). All available history
SectorDeals
Enterprise Software4
Marketing & Advertising2
Transportation & Logistics1
Developer Tools1
Networks, Cloud & Communication1
Crypto & Blockchain1
Fintech1
Media & Entertainment1
E-Commerce & Retail1
Food & Agriculture1
AI & Machine Learning1

Deal Size Distribution

Altered Capital: 7 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Altered Capital: 7 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M3
$5M-$10M1
$10M-$25M2
$25M-$50M0
$50M-$100M0
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Altered Capital: New Zealand has the largest recorded deal count among the displayed regions (5 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Altered Capital: New Zealand has the largest recorded deal count among the displayed regions (5 deals). All available history
RegionDeals
New Zealand5
Australia1
United States1
Altered Capital: 20 co-investors are shown, with Icehouse Ventures sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Altered Capital: 20 co-investors are shown, with Icehouse Ventures sharing 4 recorded deals. All available history
Co-investorShared deals
Icehouse Ventures4
Invest South2
K1W12
Shearwater Capital2
Aspire NZ1
Bank Muscat1
Citadel Securities1
Co:Act Capital1
Derayah Ventures1
Diagram Ventures1
Drive Capital1
DRW Venture Capital1
Ecliptic Venture Capital1
Endeavor1
Flat Capital1
Horizons Ventures1
King River Capital1
Kraken1
Mainland Angels1
MUFG Innovation Partners1

Investment Strategy

Altered Capital: Led accounts for 43% and participating for 57% of round participation.All available history.
Altered Capital: Led accounts for 43% and participating for 57% of round participation. All available history
CategoryDeals (count)Share (%)
Led343%
Participating457%
Altered Capital: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Altered Capital: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Finn Templeton
Laura Manson
McGregor Fea