Previously Unavailable Announces Brand Fund 1

Previously Unavailable Announces Brand Fund 1

Auckland innovation studio Previously Unavailable has partnered with Icehouse Ventures to launch their first VC fund, Brand Fund 1.

Seeking to raise $1 - $2mil, they've closed $1.75 million of commitments in just over a week since launching and are now raising up to $3 million. With Previously Unavailables' track record of success, it's easy to understand why.

Start-ups often seek 'strategic investors' who provide value beyond their capital injection, which generally comes in the form of know-how and network.

But this is the only time we can recall an agency offering venture capital as part of their branding and design service in New Zealand.

They've already invested in runaway success Tracksuit, and according to studio partner Simon Pound, they are looking for another 10-20 great companies where brand can be the difference between being a good company and a great company.

Simon went on to explain.

At Previously, we've worked with great brand-led companies from many industries.

We've seen how a clear brand idea, strong, unique value proposition and relentless focus on serving and communicating to an identified customer can supercharge growth.

Over the last five years, we've swapped equity for work with select companies like Compostic, Tracksuit, Cleanery and AF Drinks. Our equity portfolio is currently up over 12x.

We believe brand strategy and execution can be the difference between a good company, product and exit and a great company, brand and exit.

Previously unavailable have their own unique definition of a brand-led company.

What we are backing with this fund are brands that are ideas that draw people to them and create connections and new behaviour in culture, the market and consumers. Concepts that make it easier to attract great team members and partners and things that drive something new in their industry, category or sector.

Like Compostic, who are leading the effortless sustainability movement to replace single-use plastic in things like food wraps and sandwich bags.

These are big brand ideas breaking new ground in the world, where visual assets are vital to communicate and carry their message, but it is what they do, the story they embody, what they believe and how they act that is the largest element in their success.

Previously Unavailable doesn't intend to lead capital raising rounds; instead, they hope their involvement will provide a positive signal to investors of a company's potential to succeed.

Helping brands raise more, raise faster and move forward with a branding strategy worth executing.

Our Take:

Most Kiwi start-ups have to head overseas far earlier in their journeys due to our small local market size; a strong brand strategy and venture partner like Previously Unavailable will give them a needed tailwind when they take that leap.

Native Announces Hurricanes Sponsorship

Native, NZs first hard seltzer brand, is on a mission to make consumption a force for good, and their recently announced partnership with the Hurricanes Rugby franchise is a big step towards that.

They've entered rarefied air in New Zealand sports sponsorship - usually reserved for alcohol's equivalent of the old boys' network like Speights and Steinlarger.

The timing of this move couldn't be better by Native, and the Hurricanes as young Kiwi's social lubricant of choice quickly shifts away from the stodgy lagers of old.

We're sure Chris Hipkins's recent announcement to delay reviewing alcohol sports sponsorships doesn't hurt either.

For decades Speight's sponsorship of Otago Rugby, along with their pride of the south slogan and ad campaigns, cemented them as the beer of choice for those living south of the Waitaki river.

Native hopes their brands' association with the fun and always entertaining Hurricanes style of rugby crossed with their slogan party like the planet depends on it will help them do the same in the lower North.

Not only will they be offering hurricanes fans a refreshing beverage option that the always slightly flat and warm stadium beers can never do - they'll be enabling hurricanes fans to do good while they are at it. As drinkers of the brand plant a native New Zealand tree every 40 cans.

New Zealand spends $85 million a week on alcohol; globally, we get through $47.4 billion. Native founders Guy and Matt see this as an opportunity to connect alcohol consumption to something more enduring by turning their RTDs into trees.

To date, they've funded 1300 native trees. If Heineken were to do the same, they'd be planting 250 million a year - enough to build a native trail the length of New Zealand - something Native wants to do in the next decade.

Our Take:

We can't afford big-name sports sponsorship and probably wouldn't dare try it. So we see this as a brave move by Native.

This seems more like the thing you do to tell your mates about or cross off an item off your bucket list than something that adds to your bottom line. But what do we know?

Like Speights with Otago rugby, as we mentioned earlier, and Ford Ranger with the All Blacks, obviously, sports sponsorships can work.

Just recently, Prime, the new energy drink launched by Logan Paul and KSI, became the official drinks partner of the UFC. The brand is already doing more than $250 million annually. And both are known for their brilliant marketing heads, so you'd have to assume it can do well when done right.

Dare we say it, synergies, i.e. brand and audience alignment, probably matters most here. It looks like Native have got this right.

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