Finance & Investments

AAAI Conference Report

Australian Association of Angel Investors Conference 20-22 February 2013, Brisbane

Suse Reynolds – Angel Association & Ray Thomson – Angel Association

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Valuation of Early Stage Investments in New Zealand

The 2012 report adds a further 57 companies across 68 rounds which were invested into between January 2011 and June 2012. Thirty nine of these companies are entirely new to the dataset. With these additions the entire dataset from 2004 – 2012 represents 225 companies across 325 funding rounds.

In June 2011, NZVIF released “The Valuation of Early Stage Investments in New Zealand” report. The report reflected on investment into 186 companies between early 2004 and December 2010. It highlighted the fledging state of the early stage investment market in New Zealand and recognised the significant progress made in the last 10 years.

This report covers five main areas of interest:

1. Analysis of Pre-money valuation – by industry

2. Analysis of Pre-money valuation – by time 

3. New and Follow-on Investment trends 

4. Industry Investment Mix – 2004-2012 

5. International data

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Valuation of Early Stage Investments in New Zealand 2011

In June 2011, NZVIF released “The Valuation of Early Stage Investments in New Zealand” report. The report reflected on investment into 186 companies between early 2004 and December 2010. It highlighted the fledging state of the early stage investment market in New Zealand and recognised the significant progress made in the last 10 years.

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An Intro to Angel Investing – Tom McKaskill

An Introduction to Angel Investing – A guide to investing in early stage entrepreneurial ventures

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AANZ Submission – Seed Co-­Investment Evaluation

The Angel Association of New Zealand (Angel Association) welcomes the opportunity to contribute to the evaluation of the Seed Co-­‐Investment Fund (SCIF).

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Angel Investing: Catalyst for Innovation

Authors - Richard Sudek, Allan May, and Robert Wiltbank 

A detailed focus on a group of extremely active angel investors commonly referred to as “Super Angels.

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Financing High-Growth Firms: The Role of Angel Investors

This report covers seed and early-stage financing for high-growth companies in OECD and non-OECD countries with a primary focus on angel investment.

Angel investment is the primary source of outside equity financing and support for start-ups in a number of countries, yet it is frequently overlooked as angel investors are often not visible.

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Young Company Finance

The number of investment deals by angel investors rose in the first half of 2011 but the amount invested subsided from the previous year’s record level, according to the Young Company Finance Index.

Angels invested $17.8 million across 53 deals involving young New Zealand companies in the first half of 2011. In the first six months of 2010, $29.6 million was invested across 37 deals.

Download issues:

NZ Young Company Finance – Issue 16 – April 2014

NZ Young Company Finance – Issue 15 – September 2013

NZ Young Company Finance – Issue 14 – April 2013

NZ Young Company Finance – Issue 13 – August 2012

NZ Young Company Finance – Issue 12 – March 2012

NZ Young Company Finance – Issue 11 – September 2011

NZ Young Company Finance – Issue 10 – March 2011

NZ Young Company Finance – Issue 9 – Sept 2010

NZ Young Company Finance – Issue 8 – Feb 2010

Bill Payne Presentation – NZX and AANZ Networking

Attracting, selecting and managing financing options is challenging, even for seasoned managers.

The key to getting the best deal is preparation – two thirds of the financing process occurs before a single investor is contacted. Companies must plan their finance strategies, submit to a harsh reality check and only then engage potential investors.

Download PDF – a report from Deloitte on selecting and managing your options for financing growth

A Long Hard Look – an article by Mark Robotham

Investment-ready companies will be the winners from the current recession.

How well do you measure up?

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Guide to Venture Capital Terms Sheets

Although venture capital is a well-established source of funds for early stage companies in overseas jurisdictions and the process of venture capital investment is well understood, the availability of venture capital has been limited in New Zealand until recently and the process is not so well understood here.

However, recent fund raising activity (spurred by initiatives like the government funded New Zealand Venture Investment Fund) has raised awareness and availability of this form of funding in New Zealand.

Venture capital is typically the most active form of investment. This fact and the high risk nature of venture capital distinguish it from other types of finance and investment and largely explain why typical venture capital terms are quite different in many respects to terms which typically apply to other types of investment. The most striking difference is the preferential rights usually required by a venture capital investor. Accordingly, it is important for a company seeking venture capital to try and match the venture capitalist’s skills with the requirements of its business to ensure it gets value for the preferential equity terms.

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Convertible Notes paper

Use of convertible notes for seed and early stage investment in New Zealand – June 2010

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Employee Equity Plans

In good economic times, a share plan can be a highly effective means of attracting, retaining and incentivising key people – particularly for fast growing New Zealand companies competing against cash rich foreign competitors.

PriceWaterhouseCoopers has just realeased a report looking at their importance and the various structures they can take.

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Grant Thornton Business Transformation

Our team of organisational engineers help businesses and other organisations to become more efficient and effective in achieving their strategic goals.

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