# Selwyn Capital and Governance Pathway for PiP

**Research cut-off:** 4 August 2026
**Status:** Public-source capital and governance brief

## Bottom line

PiP should not lead with a request for investment in PiP Group. The strongest near-term route is a ring-fenced, independently evaluated pilot with Selwyn Village as an evidence site, followed by a separate Foundation proposition focused on one priority high-need cohort.

Selwyn has public grant, commissioned-research, philanthropic co-investment and impact-equity precedents. None appears to be a currently open general funding programme, and no public Selwyn precedent for a recoverable grant was verified.

## Capital pathways

| Route                       | Public precedent                                                                                        | Current boundary                                 | Potential fit                                                                                         |
| --------------------------- | ------------------------------------------------------------------------------------------------------- | ------------------------------------------------ | ----------------------------------------------------------------------------------------------------- |
| Ring-fenced grant           | 2023/24 Respectful Ageing Innovation Challenge: almost $800,000 across 12 recipients                    | Historic closed round                            | Evidence, accessibility or delivery for a defined high-need cohort—not general runway                 |
| Commissioned research       | Foundation research into vulnerable cohorts, tikanga Māori, Census evidence and impact evaluation       | No open intake found; likely Foundation-directed | Independent needs mapping or evaluation with jointly governed questions                               |
| Philanthropic co-investment | $200,000 Selwyn plus $200,000 Perpetual Guardian legacies and $50,000 Good Shepherd for a housing pilot | Precedent, not an open programme                 | Named delivery partner, matched contribution and public-benefit intervention                          |
| Recoverable grant           | No public Selwyn precedent found                                                                        | Unconfirmed concept                              | Do not lead with or imply availability                                                                |
| Impact equity               | Elli Cares: innovation support followed by equity and additional funding                                | Exceptional precedent; no open fund found        | Later only after assurance, customers/revenue, independent impact, valuation and commercial diligence |

The 2026 Ageing Well research round was competitive, time-limited and closed. A future research route may require an eligible researcher or registered charity partner.

## Decision map

### Selwyn Village operational route

`Cheryl Tolcher / Craig Atkinson → Jason More → Selwyn Village Limited Board → pilot or procurement contract`

### Foundation mission route

`Denise Cosgrove / executive intake → Social Impact & Mission Committee → Foundation Board subject to delegation → grant, research or co-funding`

### Investment route

`Social Impact & Mission + Finance & Investment → Foundation Board → impact-equity or other investment agreement`

Exact financial delegations are not public and must be confirmed.

Village adoption and Foundation capital require separate decisions, records and agreements. Shared directors create a governance bridge, not automatic approval. Relevant relationships must be declared and actual conflicts managed, including recusal where appropriate.

## Mission fit test

The Foundation publicly prioritises Māori and Pasifika people aged 55+, single older women at risk of hardship, people experiencing dementia, ageing in place, social isolation/loneliness, culturally appropriate services and living/dying well.

A broad app for comparatively well-resourced village residents is not automatically aligned. A credible proposition names one priority population and an evidenced barrier.

Potential routes include:

- Māori or Pacific community navigation governed with an iwi or Pacific partner;
- supported no-cost access for single older women experiencing hardship;
- dementia-inclusive participation for residents and whānau with cognitive-accessibility, consent, safety and non-clinical controls.

The dementia route must distinguish PiP from Elli Cares. Selwyn already supports community navigation through Selwyn Support and Connectors; PiP must show how it closes referral loops or reduces burden instead of duplicating a directory.

## Fundable proposition

> Co-design and independently evaluate a supported digital and non-digital participation pathway for one defined high-need cohort, using Selwyn Village as an initial operational evidence site and a named community organisation as the mission-aligned delivery partner.

Minimum content:

- named cohort, geography and delivery partner;
- theory of change from discovery/referral to attendance and referral closure;
- baseline and eight-to-twelve-week pilot;
- independent evaluation and pre-agreed denominators;
- digital, assisted and non-digital routes;
- appropriate Māori, Pacific, resident or whānau governance;
- accessibility, privacy, security and data-minimisation evidence;
- clinical/non-clinical boundary and failed-referral rules;
- budget separating product, partner delivery and evaluation;
- matched contribution and milestone-based release;
- stop/go gates, data/IP/publication rights and sustainability plan;
- conflict declarations and independent procurement or valuation checks.

A later equity discussion additionally needs cap table, valuation, customer/revenue evidence, financial model, use of funds, governance rights, follow-on capital, downside/exit, mission protection and ongoing impact reporting.

## Recommended sequence

1. Complete Village discovery and assurance without seeking Foundation capital.
2. Run a bounded Village pilot funded operationally or through matched support.
3. Commission or co-fund independent evaluation.
4. Translate evidence into a separate high-need community proposition.
5. Seek ring-fenced grant or multi-party philanthropic co-investment.
6. Discuss impact equity only after verified outcomes and commercial traction.
7. Consider a recoverable structure only if Selwyn confirms it uses the instrument.

## Disqualifiers

Do not proceed with an ask that:

- requests general working capital or founder runway;
- treats Selwyn assets or historic sale proceeds as readily available cash;
- lacks a priority-cohort/public-benefit rationale;
- presents private referrals or product enthusiasm as approval;
- bundles Foundation investment and Village purchasing;
- claims causal reductions in loneliness, institutionalisation or health use;
- lacks privacy, security, accessibility or independent evaluation;
- duplicates Selwyn Support, Connectors, Elli Cares or clinical systems;
- represents a closed round or impact investment as generally open;
- describes recoverable grants as an established Selwyn route;
- has unclear valuation, IP, data ownership, conflicts or exit terms.

## Source register

- Selwyn Foundation Annual Report 2024/25: https://www.selwynfoundation.org.nz/hubfs/001%20Selwyn%20Foundation%20MVP/Website%20Content/Downloadable%20Files/The%20Selwyn%20Foundation%20Annual%20Report%202024-2025%20-%20Download.pdf?hsLang=en-nz
- Selwyn Foundation Annual Report 2023/24: https://www.selwynfoundation.org.nz/hubfs/001%20Selwyn%20Foundation%20MVP/Website%20Content/Downloadable%20Files/The%20Selwyn%20Foundation%20Annual%20Report%202023-2024%20-%20Download.pdf?hsLang=en-nz
- Good Shepherd co-investment: https://www.selwynfoundation.org.nz/news/helping-vulnerable-single-older-women-access-safe-and-affordable-housing
- Elli Cares impact investment: https://www.selwynfoundation.org.nz/news/investing-in-older-persons-wellbeing-through-smart-dementia-support
- Living Well, Dying Well: https://www.selwynfoundation.org.nz/living-well-dying-well
- Office for Seniors — Ageing Well grants: https://www.officeforseniors.govt.nz/latest-news/new-grants-to-support-research-and-community-innovation-for-ageing-well
- Office for Seniors — grant recipients: https://www.officeforseniors.govt.nz/latest-news/neselwyn-foundation-announces-ageing-well-grant-recipients-blog-post
- Charities Services — Conflicts of interest: https://www.charities.govt.nz/im-a-registered-charity/running-your-charity/conflict-of-interestpanga-rongorua/
- Companies Act 1993 — Director interests: https://www.legislation.govt.nz/act/public/1993/0105/67.0/DLM322855.html

## Research classification

- **Verified public precedent:** documented by Selwyn, government, legislation or a regulator.
- **Meeting-reported intelligence:** belongs only in the password-protected dossier.
- **Strategic route:** proposed sequence based on public evidence.
- **Unresolved:** requires Selwyn confirmation, including delegations, pipeline, thresholds and instrument availability.