Our Standards

Our vision

Our aspirations

  • To facilitate the growth of global businesses
  • To source and action a regular flow of high quality deals
  • To build sustainable networks of informed, committed investors

Our values

  • Passionately ambitious for angel ventures
  • Collaborative and collegial
  • Integrity and honesty

Our behaviours

  • Communicate expeditiously and clearly
  • Keep promises and commitments
  • Maintain confidentiality
  • Disclose conflicts of interest
  • Professionalism
  • Compliance with the law
  • Transparency and consistency

Professional Standards

The Angel Association New Zealand publishes standard industry documentation guidelines to encourage professional standards and reduce cost for early stage investors.

Code of Conduct

We endorse codes and guiding priniciples that provide an appropriate framework for the conduct of the industry.

Read the AANZ Code of Conduct

Reporting Guidelines

The attached guideline for Portfolio Company reporting is intended to act as a guide and industry standard for AANZ members. The guidelines have been prepared by the Council with support from members and advisers.

The guidelines include:

The AANZ welcomes feedback on the structure and usability of the guidelines. Please contact the Executive Officer for more information or comment.

Term Sheet Guidelines

The Term Sheet templates below are for early stage investment and are intended to act as a guide and industry standard for AANZ members. The guidelines have been prepared for the Council with support from New Zealand Venture Investment Fund, members and advisers.

Term Sheet templates

Ordinary Shares

Preference Shares

Convertible Loan

For more information on these and other templates from NZVIF, please click here.

Valuation Guidelines

This research report sets out to address the gap in valuation information.

The report uses data collected from funding rounds invested into 186 companies between early 2004 and December 2010. These companies have been selected from NZVIF’s current portfolio, transactions publicised in

YCFI, together with other New Zealand early stage transactions that have been identified by NZVIF.

NZVIF Valuation Report 2012

Convertible Notes

Investors use a wide variety of instruments to invest in companies. This paper from PricewaterhouseCoopers summarises the tax implications arising from convertible notes with different features that could be considered to achieve commercial objectives.

Use of Convertible Notes from PricewaterhouseCoopers