Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Angel Association Applauds Greenbutton Outcome

Angel Association Applauds Greenbutton Outcome


The successful sale of cloud-computing company GreenButton to Microsoft illustrates just why angels find investing in high growth startup companies so rewarding.

As a founding investor in GreenButton, Angel Association Chairman, Marcel van den Assum said this was a win for everyone involved in the venture’s journey from a one-man startup to a globally competitive, international company.

“This transaction is an excellent outcome for New Zealand. It’s something we can all be proud of. Another team of smart Kiwis have shown they can create a terrific piece of software which will be used by potentially millions of people,” he said.

Mr van den Assum pointed out almost all the capital required to create the company came from New Zealand’s angel and venture investment community, reflecting the degree to which this community syndicates deals and supports each other.

“Over 20 individual angels from three networks contributed – Angel HQ in Wellington, Enterprise Angels in Tauranga and Ice Angels in Auckland – as did early stage venture funds Movac, Sparkbox and Evander. Almost all the investors have indicated they will reinvest the returns straight back into their startup communities” he said.

Mr van den Assum acknowledged the support the company has had from the Government, including the NZ Venture Investment Fund, Callaghan Innovation and New Zealand Trade and Enterprise.

“These entities were all instrumental in the company’s success and I am delighted this transaction represents a significantly positive return on the Government's investment,” he said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news