Tupu Tonu is an investment fund
for building Ngāpuhi prosperity

Our mission is to create a portfolio of high-performing commercial assets that can be offered to ngā hapū o Ngāpuhi in future Treaty negotiations, and to distribute a portion of the profits back to Ngāpuhi hapū, whānau and uri.

What we do:

  • We investigate and acquire commercial assets in whenua-based sectors, primarily located in the Ngāpuhi rohe;

  • We manage and grow the value of those assets until the time they can be offered to ngā hapū o Ngāpuhi in Treaty negotiations; and

  • We return a portion of the annual profits to ngā hapū o Ngāpuhi.

Tupu Tonu acquires high-performing
commercial assets

Ngāpuhi Investment Fund Limited (trading as Tupu Tonu) was established as a Crown-owned company to acquire and grow the value of a portfolio of high-performing commercial assets that can be offered to ngā hapū o Ngāpuhi in future Treaty negotiations, and to return a portion of annual profits to those affiliated with Ngāpuhi ahead of negotiations.

Tupu Tonu was established in recognition of the unique challenges faced by ngā hapū o Ngāpuhi and represents an attempt to preserve commercial opportunities for hapū before negotiations begin.

Tupu Tonu means
‘Prosperity in Perpetuity’

Tupu Tonu was selected to be the trading name for Ngāpuhi Investment Fund Limited. In simple terms the two words broadly translate as ‘prosperity in perpetuity’, but they have deeper cultural significance. One of the titles by which Ngāpuhi is known is Ngāpuhi-nui-tonu, or everlasting Ngāpuhi. Tonu speaks of continuity and stability and speaks to the inclusiveness and multiplicity of tribes, sub-tribes and marae within the tribe.

Tupu Tonu is focussed on growing the value of the portfolio

Tupu Tonu has an initial allocation of $150 million to invest in assets across the Ngāpuhi rohe, and where possible to support wider regional economic growth across Taitokerau. Tupu Tonu is committed to acting as a socially responsible investor. We are interested in investments that make good commercial sense which also have cultural, environmental, and social benefits.

Tupu Tonu has a whenua-based investment strategy which recognises the importance of the return of whenua to hapū. We’re focusing on sectors which utilise land in different ways: Property; Primary Sector; Infrastructure and Energy.

Tupu Tonu is a Crown-owned company

Tupu Tonu is a Crown-owned company meaning its owners (shareholders) are Ministers – the Minister of Finance and the Minister for Treaty of Waitangi Negotiations. It is otherwise independent from Government agencies including Te Arawhiti – the Office for Māori Crown Relations, which is the agency responsible for Treaty Settlements. It has an independent Board of Directors (the Board) and Management team. The Board are responsible for all investment decisions. Tupu Tonu has been operating since 1 February 2021.

Tupu Tonu is looking to preserve commercial opportunities for Ngāpuhi

The Ngāpuhi negotiations have several unique factors which justify a unique approach:

  • Ngāpuhi are the largest iwi and settling their Treaty of Waitangi claims is a key Ministerial priority.
  • The existing Crown assets in the Ngāpuhi rohe are limited.
  • Whilst Ngāpuhi claims remain unsettled, opportunities to purchase assets and potential gains are being lost.

Tupu Tonu is looking to preserve a space for Ngāpuhi within certain sectors so that as part of their negotiation, Ngāpuhi can make an informed decision about whether to participate in these sectors.