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Dawn Aerospace turns investors away from $43m Series B round
Fiona Rotherham
Wed, 17 Jun 2026
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Wed 17 Jun 2026 03:21:53am
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Wed 17 Jun 2026 03:21:53am
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Seeka forecasts profit decline on back of reduced kiwifruit
Listed horticulture and post-harvest company, Seeka, anticipates reduced profit for 2026. For the 12 months to December 31, Seeka forecasted net profit after tax to range between $38 million-$42m, down from the $47.5m reported in the previous corresponding period. Domestically, the total trays of class one (highest quality) kiwifruit packed declined to 45.4 million trays from 47.1 million trays. Seeka reported the reduction reflected a return to more typical growing conditions following exceptional yields in 2025. In Australia, Seeka harvested 25 million kilograms of kiwifruit, down 14% year-on-year. The decline was attributed to expected production growth that did not materialise, and a hotter and drier growing season. Seeka said cost pressure remained elevated but the efficiency gains from recent automation investments had helped mitigate impacts. As a seasonal business, the majority of Seeka's profit is generated in the first half of year.
PF Olsen and Forest360 rebrand to Stand
Two of New Zealand’s largest forestry businesses, PF Olsen and Forest360, have changed their name to Stand Forestry Group after completing a merger announced at the end of last year. The merger, which combines a workforce of more than 200 skilled workers and 480,000ha of forestry under management on both sides of the Tasman, was backed by new investment from Adamantem Capital’s Environmental Opportunities Fund, and supported by PF Olsen cornerstone investor Quayside Holdings. Stand Forestry Group chief executive Dan Gaddum says the new name reflects the business’ practice and principles. “While a stand is a unit of trees, it also speaks of taking a position; standing for something. It reflects our commitment to managing each stand with care, skill, knowledge and discipline and encapsulates our commitment to forestry with purpose – growing natural capital for good.” Stand plans to bolster its carbon consulting business in New Zealand and Australia.
Consumer mood sours as higher costs put pressure on households
Consumer confidence has plunged to the lowest level in three years as cost pressures eat into household budgets. The latest Westpac-McDermott Miller Consumer Confidence Index dropped 14.3 points in the June quarter to 80.4, the weakest result since 2023. A reading below 100 indicates that pessimists outnumber the optimists. Senior economist Satish Ranchhod said the cost of essentials such as petrol and electricity had increased, along with mortgage costs. He noted some relief on the horizon. “Following the agreement to extend the ceasefire in the Middle East earlier this week, global oil prices have been dropping back, and we’ve already seen falls in local petrol prices. While domestic cost pressures remain elevated for now, the recent easing in global tensions could pave the way for a recovery in confidence and firming in economic activity through the back part of the year.”
Motion Capital extends first fund to $27.2m
Climate-tech venture capital firm Motion Capital has extended its debut fund to $27.2 million following its first institutional investment.
The $7.2m extension was led by ethically-invested Pathfinder KiwiSaver Plan. The debut fund was finally closed in August last year at $20m after a first close in 2023 at $6m.
Over half the fund has been deployed into 13 companies and it has had one exit with the $34.9m acquisition by NZX-listed Gentrack of portfolio company Factor in May.
Founding partner Lachlan Nixon said Pathfinder’s backing is a vote of confidence in its strategy and sector, while Pathfinder private assets strategic adviser Kelly Tyne said the investment demonstrates how KiwiSaver capital can be a powerful force for long-term wealth creation and positive change.
Motion Capital hopes to benefit from NZ Growth Capital Partners' new $10m fund-of-funds for first-time fund managers announced in this year's Budget.
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Wed 17 Jun 2026 03:13:27am
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