Nigel Tutt Chief Executive of Priority One

Recently, local private equity firm Oriens Capital announced they had raised capital for their second fund.

This involved them reaching their initial raise of $80m, although the fund is expected to finally close at around $100m. As a private equity investor, Oriens invests in established, profitable companies that are looking to grow or transition in the future.

This fund follows on from their first fund of $50m, raised in 2016. Being able to raise a second fund quickly is a huge vote of confidence for the fund and the team running it. From here, they will seek to invest in a portfolio of six-to-nine companies.

A fund of this nature is great to have in our region – businesses generally need capital and expertise to grow and to reach the potential that they might have found in their product or service offering at an earlier stage.

While Oriens invests across New Zealand, not just Tauranga, it's a little easier to spot and support businesses that are located in the same region. We also tend to have a higher proportion of growth companies here than in other parts of the country.

An excellent local success story is Bluelab, who make equipment for plant growing systems, exporting nearly all of their products and being the leader in their field.

Oriens invested in Bluelab back in 2018, with the company going from strength to strength since, adding high-quality local jobs and export earnings.

Oriens Capital play a vital part in our wider capital ecosystem located here in Tauranga - a group that is unrivalled in any New Zealand city outside of Auckland.

We are fortunate to have other great players like WNT Ventures and Enterprise Angels, who invest in early-stage companies, through to large investors like Quayside Holdings and Craigs Investment Partners.

With this suite of capital, advice and business networks, this capital network makes our region a more attractive place to grow a business.