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

 


Angels flying with new fund

Angels flying with new fund


24 July 2014


The New Zealand Venture Investment Fund is partnering with a group of experienced NZ and ex-pat angel investors who have formed Flying Kiwi Angels to invest into start-up companies.

Flying Kiwi Angels (FKA) was co-founded by Rudi Bublitz, David Russell, Charles James and James Hoseason, and the first dozen angels have established the new angel fund and further members are being sought. Prior to establishing FKA, many of those involved have been with other angel groups and, over the last five years, collectively invested around $3.5 million into over 30 technology companies, including GreenButton, eBus and Inro.

FKA director Rudi Bublitz said the partnership will bring more investment into innovative around New Zealand.

“The new investment partnership with NZVIF means that when FKA invests into a new company, NZVIF will match investments dollar-for-dollar up to the cumulative $4 million limit on what it can invest through any single partnership.

“Our focus is opportunities in IT, life sciences and green tech. Based on our experience to date, we expect to see a healthy deal flow. Our free weekly advice service, which we call Angelic Drop-In, has been well received by start-up entrepreneurs. There are a lot of innovative ideas in the market that are seeking capital, and this partnership will help to provide some of the capital to meet that need.

“Our expectation is that the partnership will run for around four to five years, investing into around 10 to 15 young companies during the first 12 to 18 months. With NZVIF committing on a matching 1:1 basis with Flying Kiwis investors, it doubles the capital available to a company than would be the case if we did not have the partnership.”

This is the fifteenth partnership NZVIF has entered into through itsSeed Co-Investment Fund and the sixth in Auckland, having previously partnered with groups like Sparkbox Ventures, Ice Angels and Pacific Channel. To date, NZVIF and its angel partners have co-invested around $85 million into over 100 companies.

NZVIF chief executive Franceska Banga said that the new partnership is needed to keep up the momentum in the angel investment sector.

“The past year, has seen two new angel investment networks established in New Zealand – FKA and Arc Angels. We have seen some established angel groups reducing investment activity, so we need new groups and new capital entering the market, adding to and complementing a range of existing angel networks and funds.

“While Flying Kiwis is an Auckland-based group, the growing syndication of investments between different angel groups means they are likely to invest in opportunities throughout New Zealand.

“Current investment activity is healthy and there is a good pipeline of young technology companies needing investment capital to develop. Last year, over $50 million was invested through formal angel groups. Since NZVIF began collecting the data in 2006, angel groups have invested over $300 million into young technology companies.”

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news