NZX sponsors angels
By Pattrick Smellie
Sept. 5 (BusinessDesk) - The New Zealand Stock Exchange operator, NZX, is backing early stage investment by becoming a sponsor of the country's leading angel investor association.
Neither party will discuss the monetary value of the arrangement, but NZX and the Angel Association of New Zealand (AANZ) say the sponsorship "provides extra resource" to help angel investors in early-stage start-up companies to hone their skills and networks and creates a direct link to "more formal capital markets."
The move comes as the NZX awaits Financial Markets Authority approval to launch its new, high-growth "momentum" stocks market, NXT, which it expects to launch before the end of the year for smaller cap companies seeking funds to accelerate their commercial scale.
"The Angel Association is a key part of the critical breeding ground for New Zealand businesses as well as a representative body of educated investors," said NZX's head of markets, Aaron Jenkins. "We'd like to see a greater proportion of these growing businesses coming to our public markets to raise capital."