In 1980, the Bhatnagar family immigrated to New Zealand from Canada. Roger (Rajeshwar) Bhatnagar started a small electronics retail business called Sound Plus which grew over the decade. In 1991, Roger bought the Noel Leeming electronics retail chain from the receivers of Smith City Group, and after turning the business around, floated Noel Leeming Limited on the NZX in 1993.
Under Roger's leadership, Noel Leeming Ltd experienced considerable growth. In 1995, the business was merged with competitor Bond and Bond Ltd to create "Pacific Retail Group", which was New Zealand's largest electronics retail business. Other group businesses included Pacific Retail Finance and Computer City.
Roger was knighted by the NZ Government for services to business and charities in 1998. Sir Roger Bhatnagar's interests in Noel Leeming were bought out in 2000, and he became a passive investor focused on commercial property. He has been retired from all business since 2007. You can read more about Sir Roger Bhatnagar's cricket memorabilia collection here.
Since 2011, Sir Roger's son, Aaron Bhatnagar, and Aaron's brother-in-law Blair Wolfgram have actively driven the Bhatnagar family's wealth management through listed equities, commercial property investment and venture capital. They formed Alliance Equities Limited (and its associated companies) in 2013 to pursue a number of venture capital opportunities. Chief among their investments was their strategic stake in Pushpay Holdings Limited, now listed on the NZX since August 2014 (mostly exited March 2018).
Click on an image below to visit one of the V.C. investments by the Alliance Equities group.