NZ Young Company Finance - Issue 5 - November 2008

NZ Young Company Finance - Issue 5 - November 2008

Welcome to the fifth issue of Young Company Finance. The New Zealand Venture Investment Fund, EDANZ, NZVCA, and the Angel Association support YCF with the express purpose of providing our local private equity market with a regular source of deal information, industry news, and features on specific deals or people. Obviously it is a quiet time for the entire investment community, and the number of new deals being reported in Young Company Finance reflects the drop-off in economic activity. The third quarter of 2008, for example, saw just four deals done, as opposed to 11 in the corresponding period last year. A clear trend is appearing which shows angels are backing existing businesses rather than investing into new companies. In this issue, we profile Auckland startup company Blackhawk, with a focus on its experience in seeking angel investment. Andrew Sharp, Blackhawk’s GM, describes angel involvement in his firm as ‘the best thing that best thing that could have happened to us’. We also take a look at some interesting Australian research into the IPO process for firms backed by venture capital, and we take a look at the new SCIF partnership with Nelson angel group Venture Accelerator Limited.

Download Issue 5 - November 2008 (PDF)