Brandwave

Altered Capital vs Icehouse Ventures:Which is more popular in New Zealand?

In October 2026, Icehouse Ventures had more branded searches than Altered Capital among venture capital firms in New Zealand. Icehouse Ventures had about 2,400 branded searches, while Altered Capital had 390. Icehouse Ventures made up 46.7% of all venture capital firm searches we track, and Altered Capital accounted for 7.6%. When we asked ChatGPT and Google AI Overviews about venture capital firms, Icehouse Ventures appeared in four of the five answers and Altered Capital in one. Icehouse Ventures was mentioned before Altered Capital in every answer.

Among venture capital firms in New Zealand in October 2026

Who do people search for more?

Icehouse Ventures, about 6 searches for every 1 for Altered Capital

Icehouse Ventures 2.4K searchesAltered Capital 390 searches

Who does AI mention more?

Icehouse Ventures, mentioned in 4 of 5 answers, Altered Capital in 1

Icehouse Ventures in 4 of 5Altered Capital in 1 of 5

Who does AI recommend more?

Icehouse Ventures, named ahead of Altered Capital in every answer

Icehouse Ventures first in 3Altered Capital never first

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Top venture capital firms in ChatGPT and Google AI Overviews

In three ChatGPT questions and two Google AI Overviews, Icehouse Ventures was mentioned in four out of five: in all three ChatGPT answers and in one of the two Google AI Overviews. Altered Capital was mentioned in one out of five: in one of the three ChatGPT answers, but not in either of the two Google AI Overviews. Icehouse Ventures was listed before Altered Capital in every answer.

Most recommended by AI

Brands get a higher ranking if they are mentioned earlier in the answers.

  1. Icehouse Ventures1st
  2. Blackbird Ventures2nd
  3. Movac3rd
  4. GD14th
  5. Outset Ventures5th
  6. Pacific Channel6th
  7. Altered Capital7th
  8. Bridgewest Ventures–
  9. Punakaiki Fund–

Mentioned by AI

Each dot is one answer, filled in when that answer mentions the brand.

  • Icehouse Ventures4 of 5Named in 3 of 3 ChatGPT answersNamed in 1 of 2 Google answers
  • Outset Ventures3 of 5Named in 3 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Movac3 of 5Named in 3 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Blackbird Ventures3 of 5Named in 3 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • GD13 of 5Named in 3 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Pacific Channel2 of 5Named in 2 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Altered Capital1 of 5Named in 1 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Bridgewest Ventures0 of 5Named in 0 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Punakaiki Fund0 of 5Named in 0 of 3 ChatGPT answersNamed in 0 of 2 Google answers

See every answer about venture capital firms

5 answers

Not named in any answer:

Brands are shown in the order each answer named them. The survey took place in New Zealand on October 21, 2026.

Is Altered Capital or Icehouse Ventures more popular in search?

This chart shows how often people search Google for Altered Capital and Icehouse Ventures by name. Each line represents a brand's share of searches for all nine venture capital firms we track, month by month, from searches in New Zealand.

Altered Capital and Icehouse Ventures among venture capital firms in New Zealand, by month

Share of searches by month for Icehouse Ventures, Altered Capital. The figures are in the table below the chart.

View monthly share of searches table
MonthIcehouse VenturesOutset VenturesAltered CapitalMovacBridgewest VenturesBlackbird VenturesGD1Pacific ChannelPunakaiki Fund
Nov 202541.9%19.4%8.6%8.6%5.5%4.6%3.1%3.7%4.6%
Dec 202544.4%16.4%7.2%10.9%4.8%4.8%3.1%4.8%3.8%
Jan 202648%14.4%9.6%6.3%4.8%5.1%3.3%4.2%4.2%
Feb 202640%15.2%15.2%4.4%5.5%5.5%4.4%4.4%5.5%
Mar 202636.7%19.3%11.4%7.5%7.3%6.2%5%3.3%3.3%
Apr 202643.9%16.6%13.6%6%5.3%4.8%3.2%3.2%3.2%
May 202646.8%19.5%9.4%6.2%4.9%3.3%3.3%3.3%3.3%
Jun 202639.8%18.4%8.2%12.4%6.5%4.4%4.4%2.9%2.9%
Jul 202640.3%21.2%8.3%8.3%4.9%4.5%4.5%3.6%4.5%
Aug 202645.3%16.6%7.4%6%3.4%4.9%11.1%2.6%2.6%
Sep 202641.6%19.3%8.5%8.5%5%5.7%5.7%3.7%2%
Oct 202646.7%19.5%7.6%7.6%5.4%5.1%3.3%2.7%2.1%

How has branded search for Altered Capital and Icehouse Ventures changed in New Zealand over the last 12 months?

3 findings

How did search popularity change for New Zealand venture capital firms in October 2026?

2 changes

  1. In October 2026, Icehouse Ventures gained share of searches among venture capital firms in New Zealand, from 41.6% to 46.7%.

  2. In October 2026, Altered Capital lost share of searches among venture capital firms in New Zealand, from 8.5% to 7.6%.

How are Altered Capital’s and Icehouse Ventures’ branded searches counted?

2 search terms

Brandwave collects information about searches that people make online using Altered Capital’s and Icehouse Ventures’ names. When viewed over time, estimated search volumes for these branded terms can be used to understand whether interest in the brands is growing, holding steady, or fading.

Altered Capital

1 branded search term

  • altered capital

Icehouse Ventures

1 branded search term

  • icehouse ventures

How the Brand Demand Index is measured

Other head-to-heads among venture capital firms

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