Company Profile
True North is a boutique private equity investment company based in Hawke’s Bay. Our vision is to establish multiple open-ended funds with different risk/return profiles to meet the time horizons and income needs of our investors.
True North’s first fund, North West, was established in 2015 with a goal of doubling investor’s money every five years. Investments in four companies were made to build a balanced portfolio of growth and income. Returns have exceeded expectations - $10,000 invested in 2015 worth $26,000 today.
In 2019 True North launched an agri fund called Due North to take advantage of the considerable agricultural opportunities on offer in Hawke’s Bay and further afield. The fund has made one investment and is currently seeking new investors and evaluating new investment opportunities.
From Paul Yortt
Chairman of True North Equities Limited
I am delighted to introduce our two investment syndicates. The North West Syndicate Limited Partnership (NWSLP) and the Due North Limited Partnership (DNLP).
The Partners, are a highly commercial team with decades of experience combined. We are united by a common passion for adding value in business. Following extensive research and a rigorous selection process we established NWSLP in April 2015. Our second Limited Partnership, DNLP was established in November 2019.
NWSLP comprises a portfolio of privately-owned companies. Our investment philosophy is to invest in high quality businesses that meet our investment criteria. We invest a capital sum and contribute management and governance expertise to these businesses. Our investment ensures the companies are well funded and better managed with strong governance.
DNLP focuses on Agri businesses in the intensive farming sector.
While such investments carry some risk, we endeavour to spread the portfolio over a range of businesses, to mitigate specific company risk. NWSLP and DNLP follow a transparent and accountable process, providing full access to the accounts and regular investment updates. The Partners of TNEL invest alongside the investors in NWSLP and DNLP.
NWSLP and DNLP are limited liability partnerships established under their respective Agreements. These comprehensive documents offer strong governance rights to our investors (Limited Partners). It is important that you have a clear understanding of the structure of these Agreements and we recommend you seek independent advice from your advisers.
Our search is ongoing, to identify further businesses, with low pre-money valuations, that may be added to the portfolios. There are some good prospects in the pipeline and we are now assessing these opportunities.
We look forward to investing with you in the future.
Meet the Team
Paul Yortt
Chairman
Hawke’s Bay based Paul is a life-long investor and astute businessman. His extensive experience spans a wide variety of commercial ventures. Paul attributes the key to his success to working with good people who have successful track records and the capability to execute plans.
A Member of the New Zealand Institute of Directors he has current directorships with Cracroft Dairies Limited and True North Equities Limited.
Andrew Bayly
Partner
Andrew was formerly a partner at PwC and worked with some of Hawke's Bays largest companies and now focuses his time as a director. Andrew is a director of Unison Networks Contracting, True North Equities Limited, Ask Holdings Limited, AskYourTeam NZ Limited, Reduced To Clear Limited and Te Mata Holdings. He is currently also a member of the Advisory Board for Emmerson Transport Limited.
Andrew is a Chartered Member of the New Zealand Institute of Directors, and a Chartered Accountant with a Bachelor of Commerce from Massey University.
Rob Wheater
Partner
Rob has extensive experience gained across a variety of industries, including a 27 year stint in the electrical industry. Working in management roles, he has developed expertise in areas including strategy, business development, mergers and acquisitions, contracting, manufacturing, finance and information technology.
He is currently a director of Unison Networks Limited, ETEL Limited and Chair of Freedom Internet Limited and director Te Mata Holdings.
He holds a B.Com (Honours), is a member of the Chartered Accountants Australia and New Zealand, and the New Zealand Institute of Directors.
Ian Black
Venture Partner
Ian has a proven track record in international business development and leadership within the software industry. He started his career in the accounting profession at Coopers & Lybrand in London. He moved into the software industry working at Oracle in Europe and Asia and then for two decades Ian held CEO, COO and VP positions within SAP’s Asia Pacific region.
He led a successful software start-up in the Financial Services sector and for the last four years, Ian was CEO of an ASX and NZX listed public company delivering enterprise solutions to the international utilities and airports sectors.
Ian has served on the boards of a number of software and professional services companies.
Dean Prebble
Investment Manager
Dean has over 30 years’ experience in early stage investment, international trade and management consulting. He has led a number of technology commercialisation assignments from initial intellectual property assessments through to negotiations with offshore licensees.
Prior to joining True North, Dean was New Zealand Trade Commissioner based in Taiwan. His earlier career includes senior positions with Jarden, The University of Auckland, Ernst & Young and EverEdgeIP.
Dean holds a Bachelor of Commerce from The University of Otago and a Master of Commerce from the University of Auckland