Angel investment hits record $61.2 mn in 2015

Wellington company owner Simon Swallow says he doesn’t expect to get any money back from his angel investment, which is an odd comment from an investor.

He’s put around $1 million into 15 Kiwi start-ups in the past five years for “fun”, driven by a desire to help NZ Inc and is hopeful at least one will turn out to be the blockbuster that at least repays his investment.

“I wanted to give a group of New Zealand entrepreneurs the chance to test the market and even if they fail at their first one they will learn a lot and come back even stronger on the second one,” he said. “I’m backing the jockey rather than the horse.”

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