Raising Capital in New Zealand: Could the Active Investor Plus Visa Help Your Business Grow?

By Mathew Collins, Managing Partner, New Zealand Life Investment Partners — 30 October 2026

New Zealand businesses seeking growth capital may be able to access investment linked to the Active Investor Plus (AIP) Visa through suitable managed funds or approved direct investment. The opportunity depends on the business, the proposed investment structure and investor fit. NZLIP helps business owners explore whether there is a credible pathway worth pursuing.

For many New Zealand SMEs, the challenge is familiar: there is an opportunity to expand, enter a new market, develop a product or increase capacity, but additional capital is needed to move forward.

The Active Investor Plus programme creates another investment market worth understanding.

It connects eligible international investors seeking New Zealand residence with qualifying investments here. For businesses, that can create a potential source of capital alongside domestic investors and conventional finance.

"I believe more New Zealand business owners should understand this opportunity. The starting point is a credible business proposition and a clear assessment of whether AIP-related investment could help bring it to life."

NZLIP is already working with New Zealand businesses and entrepreneurs looking for capital. We have entered discussions and begun establishing agreements with businesses exploring how the AIP framework could support their growth.

If your business is considering a capital raise, an exploratory conversation with NZLIP can help identify the questions to answer before investing significant time in a particular route.

What is the Active Investor Plus Visa — and why does it matter to businesses?

AIP is a residence-by-investment programme for eligible international investors. It has two principal categories:

Investor requirement	Growth category	Balanced category
Minimum qualifying investment	NZ$5 million	NZ$10 million
Minimum investment period	Three years	Five years
Relevant investment options	Acceptable managed funds and direct investments	These options plus a broader range of qualifying assets, including bonds, listed equities and property development

These are the investor's overall qualifying investment requirements. They are not automatic minimum fundraising amounts for an individual New Zealand business.

An investor can allocate capital across qualifying investments, subject to the rules. A managed fund can also pool commitments and make investments according to its mandate. immigration.govt.nz

For businesses, AIP is best understood as a potential investor channel. It is not a government grant, an entitlement to finance or a substitute for a commercially sound proposal.

How much capital is connected with AIP?

Immigration New Zealand's update of 28 October 2026 distinguishes between investment still in the application pipeline and capital committed through approved applications with funding transferred to New Zealand:

Capital status	Growth	Balanced	Total
Investment pipeline	NZ$1.89 billion	NZ$500 million	NZ$2.39 billion
Capital committed	NZ$2.25 billion	NZ$828 million	NZ$3.07 billion

Those figures represent a substantial investment market, but not a single pool of money available for businesses to apply to.

The same publication's earlier investment-type breakdown, covering the period to 30 June 2026, shows NZ$1.2 billion committed to Growth managed funds — 80% of committed Growth capital in that breakdown.

The dates matter: that allocation is not an October fund balance. immigration.govt.nz

For business owners, the implication is practical: understanding which investors and fund managers could be interested in your proposition is more useful than approaching the market indiscriminately.

Are managed funds holding capital that still needs to be invested?

The official report behind the deployment figures discussed in recent NZLIP research provides useful context.

Invest New Zealand's May 2026 recertification check identified NZ$1.89 billion of AIP capital committed to managed funds. Of that, NZ$623.4 million — reported as 34% — had been called by managers for deployment.

The report explains that funds commonly draw capital progressively as opportunities are identified. Undrawn commitments are therefore not equivalent to cash sitting in a fund's bank account. Nor is this May snapshot a current measure of available capital.

It also noted uneven deployment and monitoring of a small number of funds. immigration.govt.nz

Changes effective from 28 September 2026 require managed funds to provide and maintain investment deployment plans and strengthen Invest New Zealand's oversight. immigration.govt.nz

The business opportunity is to present a well-prepared proposition to a fund with the right mandate, capacity and interest.

"My view is that the connection between investor capital and suitable New Zealand business opportunities deserves more attention. Businesses need to understand where they fit, what fund managers require and how to present an investable growth plan."

What routes can a New Zealand business explore?

Two useful starting points are an aligned managed fund and direct engagement with suitable AIP investors.

Direct investment remains available under Growth as well as Balanced. Businesses do not have to move to Balanced simply because they want a direct investor. immigration.govt.nz

1. Seek investment from an aligned managed fund

An AIP investor commits to a managed fund. The manager selects underlying investments within the fund's mandate.

Your business would approach the manager with a commercial funding proposition.

The fit may depend on the fund's:

Preferred sectors and business stages.
Investment size and available capacity.
Risk appetite and return expectations.
Preferred investment structures.
Governance, reporting and exit requirements.

Depending on its strategy, a manager may consider equity, lending or another structure. Its current AIP eligibility and the suitability of the proposed transaction need checking; the existence of an approved fund does not make every investment it could undertake acceptable.

For an SME, the first task is to identify the right potential partners and understand their requirements.

2. Explore an approved direct investment

A suitable investor may prefer to invest directly in a business.

INZ guidance describes direct investment structures including shares and qualifying products convertible into equity. Invest New Zealand approval is required.

An ordinary business loan should not be assumed to qualify as an AIP direct investment. immigration.govt.nz

Invest New Zealand's public list includes businesses seeking capital at different scales. For example, it lists RespirAq seeking NZ$2 million and Syndex seeking NZ$1 million, alongside much larger raises.

These are illustrations of fundraising scale, not investment recommendations. They reinforce the distinction between an investor's qualifying portfolio and a company's capital raise. Invest New Zealand

The approval process also requires attention to genuine investor interest. NZLIP can coordinate the relevant parties around the appropriate sequence rather than assuming a business can obtain approval and funding independently of investor engagement.

Where does the NZ$10 million Balanced category fit?

Balanced broadens the investment classes available to an investor. It can be relevant when a proposed asset or structure fits Balanced criteria, including certain property-development opportunities.

However, the NZ$10 million threshold is the investor's overall qualifying commitment. It does not mean your business must raise NZ$10 million or receive the investor's entire portfolio.

Equally, a proposal that does not qualify for Growth is not automatically acceptable under Balanced. The actual investment needs assessment. immigration.govt.nz

The right route follows the proposition — not simply the amount you want to raise.

What financial information will investors expect?

The visa thresholds are only one part of the financial picture. A business also needs to demonstrate how an investment could work commercially.

For an initial evaluation, useful information includes:

Area	Questions to answer
Capital required	How much do you need? Can it be invested in stages?
Use of funds	What specifically will the investment finance?
Financial position	What do recent accounts, current trading, debt and cash flow show?
Growth plan	What milestones will the investment support, and what evidence supports the forecasts?
Proposed terms	Are you considering equity, lending or another structure?
Investor outcome	What are the potential returns, repayment or exit arrangements — and the risks?

These are investment-readiness considerations, not a claim that every business must meet a universal AIP turnover, profit or valuation threshold.

A mature company and an early-stage technology business will present different evidence. Both need a credible explanation of the opportunity and its risks.

"Business owners do not need a finished investment memorandum before speaking with us. But they should be able to explain what they want to achieve, approximately how much capital they need and what that capital would make possible."

What makes a business worth evaluating?

A productive first discussion can cover:

An established business with demand it cannot currently fulfil.
An exporter seeking capacity or market-entry funding.
A company commercialising a product or intellectual property.
A manufacturer investing in equipment or productivity.
A business or project with a demonstrable New Zealand economic contribution.

These are examples to investigate, not a list of automatically eligible sectors.

Programme eligibility, investor interest and commercial terms are separate questions. AIP acceptability does not establish valuation, guarantee returns or remove the need for due diligence.

Business owners should also consider what external investment means for them. Ownership dilution, governance, reporting, security, repayment obligations or an eventual exit may all be part of the negotiation.

The objective is to find capital on terms that support a sustainable commercial relationship.

What is the Build to Rent opportunity?

Build to Rent is a related opportunity for developers, project owners and businesses with the capability to deliver purpose-built rental housing.

The Government has announced that eligible Build to Rent developments will become a Growth-category investment option in December 2026 through approved managed funds.

Requirements will address capability, governance and delivery, with further implementation details to be provided before commencement. immigration.govt.nz

The proposed Growth pathway is through the fund structure. It should not be presented as a direct AIP investor simply funding any rental development.

For a project owner, early preparation could involve assessing:

Site and development feasibility.
Development costs and capital requirements.
Delivery capability and project timing.
The long-term rental operating model.
Potential alignment with an appropriate managed fund.

NZLIP has been exploring this opportunity with Design Network, bringing together the international investor perspective and architecture, design and development expertise.

Any proposition would still require the appropriate fund-management, legal, investment and other specialist input.

The opportunity is worth preparing for, while keeping final eligibility and delivery requirements central to the assessment.

NZLIP is already working with New Zealand businesses seeking capital

NZLIP has recently entered discussions and begun establishing agreements with New Zealand businesses and entrepreneurs evaluating the AIP opportunity.

"We have been surprised by the level of interest from businesses wanting to explore how this market might support their growth. As awareness increases, we expect more business owners to consider whether AIP-related inward investment could be relevant to them."

Some are seeking funding for expansion. Others are interested in attracting an investor who could also contribute experience, relationships or market knowledge.

Those additional benefits depend on the investor and the relationship agreed. An investment through a fund does not necessarily create a direct relationship with the underlying migrant investors.

NZLIP's role is to help bring the relevant people and information together, coordinate investigation and identify what needs professional assessment.

We do not manage investment funds or make investment decisions for investors.

How can your business start exploring the opportunity?

Step 1: Begin with a confidential exploratory conversation

Tell us about your business, your growth objective, the approximate capital required and your timing.

You do not need to have selected Growth or Balanced, identified a fund or prepared a full application.

Step 2: Identify the questions and potential pathways

We discuss whether an aligned managed fund, direct investment or another route warrants investigation, and what specialist advice is needed.

This is an initial scoping exercise, not a promise of eligibility or funding.

Step 3: Establish the information needed

Where there is a credible basis to continue, we agree the work required to develop the proposition and coordinate the relevant professionals.

Any proposed services, scope and fees should be clear before you engage NZLIP for further work.

Step 4: Progress targeted discussions and assessment

Depending on the agreed scope, this may involve fund-manager enquiries, investor discussions, information gathering and coordination of any required Invest New Zealand submission.

The business and its advisers remain responsible for the investment proposition and disclosures. Investors and fund managers make their own decisions.

Frequently asked questions

Can an SME raise less than NZ$5 million through AIP-related investment?

Potentially. NZ$5 million is the Growth investor's overall qualifying commitment, not a blanket minimum company raise. The structure, investment eligibility and investor or fund-manager requirements still need checking.

Do we need to raise NZ$10 million to use Balanced?

No. NZ$10 million is the Balanced investor's total qualifying investment requirement. The amount allocated to a particular business or project depends on the investor's portfolio and the transaction.

Is funding available directly from the Government?

AIP is an investor residence framework, not a government business-funding grant. Funding decisions sit with investors and fund managers.

Can we approach an AIP managed fund for a loan?

Possibly, where lending fits the fund's strategy and the transaction meets the applicable requirements. This is different from assuming an ordinary loan directly from a migrant investor qualifies under Growth.

Do we need an investor before applying for direct-investment acceptance?

Genuine investor interest is relevant to the direct-investment process. The sequence should be checked against current requirements before preparing a submission. NZLIP can coordinate that investigation.

Do we need a complete capital-raising proposal before contacting NZLIP?

No. An initial conversation can start with your business, objectives, approximate funding need and timing. It helps establish whether further work is worthwhile.

Could AIP-related investment help your business grow?

If your business has a credible growth opportunity and needs capital, the Active Investor Plus market may deserve a place in your funding discussions.

The next step is to establish whether there is a plausible fit — before committing to a particular structure or spending heavily on preparation.

"We see an opportunity to connect international investment interest with New Zealand businesses that have genuine ambitions to grow. An exploratory conversation is a practical way to begin."

Start a confidential exploratory conversation with NZLIP

Visit www.nzlip.com and use the consultation enquiry form. Tell us:

What your business does.
What you want to achieve.
Approximately how much capital you need.
Your preferred timeframe.

You can be at an early stage. A brief overview is enough to start; detailed financial records can follow through an agreed process if further work is appropriate.

Let's explore whether the AIP investment market could be relevant to your business.

About Mathew Collins

Mathew Collins is Managing Partner of New Zealand Life Investment Partners and a founder and former Managing Partner of London-based Ambler Collins. His experience includes more than 20 years in international migration and relocation, including work with investor immigration and business migration programmes for the UK, New Zealand, Australia, South Africa, the United States and other countries.

General information and commentary, not investment, financial, immigration, legal or tax advice. Eligibility, investment terms and any applicable overseas-investment or financial-markets requirements need appropriate professional assessment. NZLIP does not guarantee investment approval, funding or returns. Information checked on 30 October 2026.