Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

NZ angel funding drops 12% in first half


NZ angel funding drops 12% in first half, follow-on investment still favoured

By Rebecca Howard

Oct. 31 (BusinessDesk) - New Zealand's angel networks and funds scaled back their investments to $20.2 million in the first half of the year and follow-on funding continues to take the bulk of the investment.

Reporting on the activity of its members tracked by the NZ Venture Investment Fund, Angel Association chair Marcel van den Assum said the money was invested in 29 deals and the split between new deals and follow-on funding was one third to two thirds. That was down 12 percent from the $22.9 million invested in the same period a year earlier, however van den Assum said typically there is a substantial uplift in activity in the second half of the year.

Funding reached a record $69 million in 2016, with software and services taking the bulk of the money. Van den Assum noted annual investment exceeded $50 million for the last four years and grown at an average $5 million a year. Reserve Bank figures show New Zealand households had $117.9 billion invested in unlisted Kiwi companies as at June 30, unchanged from a year earlier.

"The level of deal flow being generated by accelerators such as Wellington’s Lightning Lab, the Manawatu’s Sprout and Auckland’s Flux together with the establishment of new networks this year such as Zino Ventures, Angel Investors Marlborough and Hawkes Bay Angels bodes well for another record year of investment,” said van den Assum.

The Angel Association will hold its 10th-anniversary summit this week on Waiheke Island. Ten years ago there were just four angel networks with about 100 members. Today there are a dozen networks operating from Dunedin to Auckland with more than 700 angels contributing capital, connections and expertise to about 100 ventures a year, it said.

(BusinessDesk)

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.