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

 

Scoop Business: Govt Resisting Pressure To Pump More Cash Into Solid Energy

Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference on whether that might prove necessary... More>>

ALSO:

Lagest Ever Privacy Breach Award: NZCU Baywide Accepts “Severe” Censure In Cake Case

NZCU Baywide says that once it was found to have committed a breach of a former staff member’s privacy, it had attempted to resolve the matter... the censure and remedies for its actions taken almost three years ago are “severe” but accepted, and will hopefully draw a line under the matter. More>>

ALSO:

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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