Excellent outcome for New Zealand Angels
The successful sale of cloud-computing company GreenButton to Microsoft is a win for everyone involved in the venture’s journey from a one-man startup to a globally competitive, international company. It illustrates just why angels like me find investing in high growth startup companies so rewarding.
This transaction is an excellent outcome for New Zealand. It’s something we can all be proud of. Another team of smart Kiwis have shown they can create a terrific piece of software which will be used by potentially millions of people.
Its worth pointing out almost all the capital required to create the company came from New Zealand’s angel and venture investment community, reflecting the degree to which this community syndicates deals and supports each other.
Over 20 individual angels from three networks contributed – Angel HQ in Wellington, Enterprise Angels in Tauranga and Ice Angels in Auckland – as did early stage venture funds Movac, Sparkbox and Evander. Almost all the investors have indicated they will reinvest the returns straight back into their startup communities.
Its also important to acknowledge the support the company has had from the Government, including the NZ Venture Investment Fund, Callaghan Innovation and New Zealand Trade and Enterprise.
These entities were all instrumental in the company’s success and I am delighted this transaction represents a significantly positive return on the Government’s investment.
– Marcel van den Assum