Dave Moskovitz – Publons angel exit

Like so many in the startup and early stage investment community, the AANZ is delighted to congratulate the Publons founders and investors on the company’s recent acquisition by Clarivate. This outcome is an inspirational proof point that those sometimes elusive returns are actually achievable. Publons Chair and AngelHQ member, Dave Moskovitz writes about building strategic value and all those who were part of supporting the Publons team here.

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MEDIA RELEASE: Angel Association commends initiatives like AngelEquity

The Angel Association today welcomed the launch of AngelEquity, a new equity crowd-funding platform leveraging deals from New Zealand’s formal angel networks such as AngelHQ, Ice Angels and Enterprise Angels.

“Early stage, high growth companies are always looking for capital. Without capital the growth path is exponentially slower,” said Suse Reynolds, AANZ Executive Director.

The Angel Association exists to support those investing in these companies and welcomes any initiatives to help broaden and deepen the pool of capital available and raise the profile of the ventures they are funding.

Angel Association members include the networks or clubs, early stage funds, investor-led tech incubators and equity crowd funding platforms.

Suse Reynolds said she believed there is still plenty of room for growth and specialisation in this end of the capital markets.

Early stage, high growth companies are highly risky investment prospects but they are absolutely vital for NZ’s future economic and social wellbeing. The companies our members are backing are the Xero’s, F&P Healthcare companies of the future.

In order to give these companies the best chance of success what they need, along with the capital, is the exposure and support to the expertise and connections the capital can help deliver.  AngelEquity provides a link between the angel networks and individual high networth investors improving the prospect of those synergies being created.

–Ends–

For more information, please contact:

Suse Reynolds, AANZ executive director on 021 490 974 or [email protected]

The Angel Association of New Zealand (AANZ)

The Angel Association is an organisation that aims to increase the quantity, quality and success of angel investments in New Zealand and in doing so create a greater pool of capital for innovative start-up companies. It was established in 2008 to bring together New Zealand angels and early stage funds; to support the angel networks and help create new networks; to promote the growth of angel investment in New Zealand by encouraging and educating entrepreneurs, new angel investors and angel groups; and to ensure the ongoing success of the angel movement through developing industry strategy, encouraging collaboration and educating the wider New Zealand public about the importance of angel investing in growing our economy.  AANZ currently has 20 members representing more than 550 individual angels associated with New Zealand’s key angel networks and funds. Recent NZ Venture Investment Fund data revealed angels have invested more than $NZ438 million in over 680 deals in the last 9 years. For more, please visit: www.angelassociation.co.nz

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WNT Ventures partner with Angel HQ

WNT Ventures Management Ltd are delighted to announce an investment has been secured from leading members of Wellington based Angel Investment group, Angel HQ. Angel HQ have a strong portfolio of companies and is the second SCIF Accredited partner that has invested into WNT Ventures Fund 1.

The strength of this group, their investment knowledge and their Wellington location broadens both our networks and access points for IP driven technology to gain early investment capital and experienced advisers. With our hands-on investment approach and the capital intensive nature of early stage investment, our technology incubator structure is an obvious and positive fit for these Investors.

Manager of Angel HQ Dave Allison states “Our club has always demonstrated wide interest and has invested broadly across industries and life stages over the last 6 years. Investing in WNT Ventures was a great way for our members to support a number of teams and a range of IP in one very well packaged opportunity.”

WNT Ventures existing shareholders and Investors warmly welcome this Wellington based Angel Investment Group and the added depth of connections, skills and industry expertise Angel HQ brings to our shareholding.

HTTP://ANGELHQ.CO.NZ

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Angels head to TechweekAKL

New Zealand’s angel investors, a community which actively supports the development of new technologies, will be out in force at TechweekAKL.

Angel Association of New Zealand member’s are involved in two key events, positioned right in the centre of the week-long celebration of all things new and innovative.

[email protected]: 18th May, from 6pm, The Grid – book your seat here.
Tech Innovation Showcase: 18th May, 3.30–5.50pm, Astrolab – apply for an invitation here.

[email protected]

An important event revealing personal accounts of angel-entrepreneur relationships. It is a must-attend evening for founders, and would-be angels.

In relaxed and informal format investors from Flying Kiwi Angels, AngelHQ, Ice Angels and Enterprise Angels will share their personal stories, including their individual entrepreneurial experiences, investment thesis, what they expect from entrepreneurs and how they help grow successful companies – alongside investing their money.

As well as bringing together angels, entrepreneurs and angel groups [email protected] event also brings together key organisations in our New Zealand innovation ecosystem. The event is being held at The Grid, organised by Venture Centre, and is only made possible with the sponsorship of AANZ, alongside New Zealand Software Association and AngelEquity.

To book your ticket and make the most of the opportunity to share a drink, nibbles and some rare ‘get to know you time’ up close and personal with Angel investors click here

The Tech Innovation Showcase

An opportunity for current angel group members to register for a private event focusing on some of the IP rich organisations emerging from government-funded Tech Incubators, Astrolab, Powerhouse Ventures and WNT Ventures. Set up by Callaghan Innovation the incubators are mandated to draw complex IP from Crown Research Institutes and NZ University R&D departments for commercialisation. The event is being held at Astrolab for an invitation click here.

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Angel HQ set to back more Wellington start-ups

Wellington start-ups should see around $20 million of investment over the next four years after investment network Angel HQ and the New Zealand Venture Investment Fund renewed their co-investment partnership.

In 2011, Angel HQ became a co-investor alongside NZVIF’s Seed Co-investment Fund. Since then they have combined to invest just under $20 million into young technology companies such as GreenButton, Wipster, and Hunter Safety Lab.

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How to write a good financial forecast for Angel investment

In the first of our Angel insights content series – Dave Allison from Angel HQ shares his knowledge gained from reviewing 100’s of deals on how to write good financial forecast for Angel investment

Financial forecasts are a crucial part of the business plan and can help to attract investment to your startup or product launch, however the balance between reality and ambition is a challenge when building these documents.

Bare in mind that no two angels are alike and what may seem an important point to one may be meaningless to another. Some angels want you to get them excited and others will ask you to tone things down. The best way to present your financial projections to investors is to walk them through different scenarios in order to show potential. But consider pitching what you are most comfortable with.

For every forecast, a list of all your key assumptions is absolutely a requirement as well as the ability to support them with accurate quality information and to explain how they were measured.

Key assumptions are critical to all aspects of the financial forecast and professional support to develop a model can be useful but two words of warning:

  •   Experience is more important than the big name. Ask your expert what they have modelled and who they have done it for.
  •   You can’t hand off responsibility for the forecast – you have to own it and own all the assumptions

Tracking and testing these assumptions on an ongoing basis is the best way to react to them quickly if they don’t show a real chance of success.

It is important to have an intimate knowledge of how your forecast works and what the key levers are. This is a model of your business so what happens if sales or prices slide by a few months (or a few million dollars) is not just important – you HAVE to know.

Your investors will want to know who your customers will be and at what price they will be eager to buy your product.
Bill Payne – The Definitive Guide to Raising Money from Angels

Every angel expects and accepts that the numbers are not correct but you will lose credibility if your assumptions are not defensible. Look for comparisons to other companies. Build your evidence and know your stance. Feel free to highlight the biggest, riskiest assumption but back yourself with what you are doing to manage that risk.

Don’t put all the detail in your pitch. Too many columns just invite people to do maths instead of listening to you. Pull out key figures, key events and timescales to show the impact it will have on your business with reasonable explanations. Have the detail of your model for follow up – PowerPoint and Excel are separate programs for a reason!

ABAF2015, NZ

To meet international angels, leaders in New Zealand’s angel investment community and make your New Zealand connection secure your seat at one the southern hemisphere’s largest international exclusive investor events Asian Business Angels Forum, being held in Queenstown, New Zealand, October 14-15 2015.

Register now. Limited places available.

 

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Marcel van den Assum’s Intro #AANZSummit14

Angel Association New Zealand Summit 2014

Review some of the greatest moments from AANZ Annual Summit 2014 in Auckland.

We have prepared a selection of videos from some of our notable speakers. This first one features Suse Reynolds’ opening and introduction to the Angel Association New Zealand Annual Summit 2014 from Chairman, Marcel van den Assum and guest Hon. Stephen Joyce, MP.

Read more from Marcel van den Assum here

 

To view this youtube video click here

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Lightning jolt on offer to startups

Ten New Zealand startup companies could be getting fast tracked into the business world, with the launch next year of Auckland accelerator programme Lightning Lab.

The programme was founded by Wellington-based Creative HQ, which has since run two rounds of the Lightning Lab programme.

The success of the three-month mentoring programmes has led to expansion into Auckland and Christchurch.

Lightning Lab Auckland director Mark MacLeod-Smith said the programme was a great opportunity for start ups to accelerate their growth with seed funding from the programme as well as mentors and support.

“There’s a lot of companies up here that are looking for funding and looking for expertise and networks, and so that’s what we’re trying to provide,” MacLeod-Smith said.
“Giving access to these amazing mentors that possess experiences and have run tech companies and have networks they can open up, can really help grow these businesses throughout the programme.”

Ian Bishop, chief executive of coaching administration business CoachSeek which went through the Wellington programme last year, said the experience and guidance it had provided had significantly accelerated company growth. CoachSeek now has more than 400 customers in 40 countries, with Bishop saying that the company “simply would not be where [it is] today without having gone through the Lightning Lab programme”.

“I think the main thing for me is especially the early days of any startup, are absolutely crazy, and so Lightning Lab provided a proven structure to the early stage chaos,” Bishop said.

“To my mind it’s the single best opportunity here in New Zealand to fully focus on making an idea work, and like I said, it’s not just the money it’s the expertise and the networks it provides.”

The 10 companies will be selected early next year, with applications for the programme closing on December 17. Each of the companies receives seed funding of $18,000 as well as mentoring and programme support from a group of tech and business mentors, with the Lightning Lab programme taking an equity stake in each of the companies in return.

This year’s mentors include Greg Cross from PowerbyProxy, Vaughan Rowsell from Vend, Ben Young from digital agency Young & Shand, Claudia Batten entrepreneur and a number of others. MacLeod-Smith said the Lightning Lab team would be looking for digital and technology companies of a range of sizes and backgrounds.

“We’re looking for companies with anything from an idea with initial work, through to paying customers with revenue,” MacLeod-Smith said.

“It’s been fantastic what Wellington’s been able to achieve so obviously we’re looking to grow on that and make sure it’s a success nationally”

Applications for the programme close on December 17, with accepted companies chosen next year. The programme runs from March through to May.

Intensive mentoring

What is the Lightning Lab programme?
Lightning Lab is a 12-week intensive mentoring programme for startup companies providing mentors, networking and seed funding.

Who can apply?
Any small to medium company with an idea and a team through to a formed company with customers and revenue.

When do companies need to apply by?
Applications for the programme close on December 17.

First published on nzherald.co.nz 20 November 2014

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System gives coaches a business edge

Ian Bishop was buried in paperwork. He was spending almost as much time in front of his computer as with clients on the tennis court.

“Here I was with a growing coaching business and a team of dedicated coaches and it’s embarrassing to admit, but I was running off 150 separate spreadsheets just to keep it all going.”

Bishop went shopping, and was surprised to find nothing like a Vend (software solutions for retailers) or Xero (accountancy software for small businesses) occupying the sports management niche. So together with his business partners, IT sales and marketing manager Shaun Fitzmaurice and web developer Matthew Skilton, decided to invent something. They called it Coachseek.

After putting the business concept through its paces in Wellington’s business accelerator Lightning Lab, they realised they had stumbled on to a much more common problem than anticipated, says Bishop, chief executive of Coachseek.
“We surveyed hundreds of coaches around the world, across many disciplines, and found that 80 per cent were using some form of spreadsheet or paper-based system to run their business, all to varying degrees of accuracy and reliability.

“So there’s an interesting paradox in the sports coaching industry where coaches are using cutting edge technology in their coaching, but are stuck with out-of-date systems for how they run their businesses.”

Bishop says he’s seen how technology has filtered into the everyday life of a sports coach, from heart-rate monitors to video analysis apps, but it hasn’t really reached the back office.

“Through the pain I was experiencing in my own business, I had a natural interest in understanding how technology could benefit the way a coach operates their business.”

Coachseek pitched for funds at Lightning Lab’s May demonstration day. By September, the company had secured more than $450,000 through Auckland’s angel (early-stage) investment group Ice Angels and Wellington’s AngelHQ.

First published on nzherald.co.nz 20 November 2014

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Angel backed Lightning Lab graduate, Twingl switches tack to create a Google Chrome plugin

Software startup Twingl, which raised $100,000 from the Lighting Lab accelerator programme, has abandoned plans to develop its education track tool as a standalone product in favour of a plug-in for Google’s Chrome web browser.

The Wellington-based company, whose tool tracks a student’s learning process, raised more than its targeted $90,000 from a syndicate of angel investors through AngelHQ and some independent investors, chief executive Andy Wilkinson told BusinessDesk. The company initially planned to build a standalone product and had been working through a number of fixes, before feedback from users encouraged a switch to developing an extension on Google’s Chrome web browser.

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Angels found, angels wanted

First published in the New Zealand Herald Friday October 11, 2013

Antony Dixon is bubbling with excitement. The chief executive of electronics-technology company Times-7 has just returned from Hong Kong, where the firm was named in the prestigious Red Herring Top 100 Asia awards.

The awards celebrate emerging technology companies from the Asia-Pacific region, so it was a big deal for a small company from New Zealand, says Dixon.

Even bigger, however, was what happened between the pitches and the handshakes. Dixon used the awards as an opportunity to visit his Asian contacts; confirming two new distributors in Hong Kong and Singapore and netting a new client in Japan in the process. “It was all really worthwhile, we got international recognition for our technology and we signed up a couple of new partners,” says an obviously delighted Dixon.

All this is a far cry from a year ago.

Times-7’s business is supplying equipment for the radio-frequency identification (RFID) or “smart tag” market.

Back then Dixon had been knocking on doors for almost a year trying to raise enough capital to develop and market the company’s new robust, slim-line antennas. His invitation to pitch at the 2012 Angel Summit – the annual gathering of the country’s angel investors (individuals who have a bit of spare cash to invest in tomorrow’s Kiwi companies) – was his last attempt to raise the $600,000 he badly needed.

“Before the summit we still didn’t have enough money on the table to make the [investment] round worthwhile. So we had to really put our best foot forward – which we did.”

Times-7 was one of 13 budding Kiwi companies asked to pitch at last year’s summit and one of six profiled by The Business last November.

It was one of the successful ones. Others were equally or even more successful; a couple, far less so. One is still trying to close the capital raising round it embarked on more than 18 months ago, making the Summit showcase a small part of what is now a long and arduous journey.

Even those who were successful, however, still have capital raising firmly on their agendas. That’s a fact of life for early-stage companies that doesn’t surprise Angel Association chairman and investor Ray Thomson.

“One of the problems with early-stage companies in New Zealand is they tend to run on the smell of an oily rag,” he says. “They don’t have enough capital to get themselves to market fast enough. It’s one of the major problems we have around commercialising Kiwi technology.”

Thomson says he encourages companies to raise as much as they can, whenever they can. Too many raise too little, slowing their potential progress and leaving them at risk of being overtaken by competitors or new developments.

Finding enough capital, however, is a problem Thomson shares with the companies. A key function of the association and its annual Summit is to encourage new angels to join the ranks and share their money, and the risks, with other angels in order to grow the total pool of money available to early-stage companies.

“That’s why we have the Summit in a different part of the country each year, to encourage more local interest.”

Last year’s Summit in Wellington, co-hosted by the local angel group Angel HQ, helped swell the capital’s angel numbers by 50 per cent, from 31 to 45. The association’s push to grow numbers also seems to be working across the country, with the official number of angels now at 420 compared with 368 this time last year.

Thomson and his association colleagues are beavering away on other initiatives in an effort to continue the momentum. A women-only angel group called Arc Angels is being launched this month in Auckland and Wellington. The group is the brainchild of Kiwi expat and staunch early-stage company supporter Bridget Liddell, now a senior partner with US investment company 212° Equity. Liddell is earmarked as chairwoman of the new group, and communications consultant Alex Mercer has been signed up as executive director.

Women-only angel investment groups are very successful in the US, says Thomson, especially at finding capital for businesses led by female entrepreneurs.

Golden Seeds, which started as a women-only group focusing primarily on women-run businesses, is now one of the largest and most active angel investment organisations in the States, investing US$58 million in 58 companies since 2005.

Thomson’s aim is to increase New Zealand angel numbers to more than 550 next year and he expects the Arc Angels to provide a significant chunk of that target.

There’s also a push to develop dedicated angel groups in some of the smaller centres, including Whangarei, Hamilton, Oamaru and Invercargill.

The latest Young Company Finance Index, produced by the Government’s NZ Venture Investment Fund, shows that angel investment increased 18 per cent to $36.5 million in the year to June, compared to $30.9 million in the year to June 2012. Cumulatively, $274 million has been invested in early-stage companies by angel investors since data was first recorded in 2006.

But Thomson says the numbers don’t reflect the true health of New Zealand’s angel sector, which is second only to the States, based on the number of angels per head of population.

“Twenty-three New Zealand angels went to the US Angel Summit this year. We were the largest country represented outside America, so there’s a huge amount of interest [in angel investing] here.”

This passion for angel investing is a large part of the reason why New Zealand can attract big international names to its Summit, says Thomson. “[International] angels like coming down here because this is one of the most vibrant angel communities in the world.”

This year the Summit’s line-up includes Canadian technology entrepreneur turned angel guru Basil Peters, a regular speaker on the US angel circuit and a strong advocate of early exits for angel investors. He is speaking for the first time outside North America, says Thomson. Others on the list include well known US angel and Kiwiphile Bill Payne; Singapore-based British angel investor Hugh Mason, who runs the emerging company accelerator JFDI Asia; and Stuart Fox, principal of one of Australia’s larger angel funds.

Driving best practice and angel numbers goes hand in hand, says Thomson. “It’s all about supporting the ecosystem. It’s no use the Government helping to build these little companies, and get the intellectual property out of our research organisations, if there’s no capital around to help them reach their targets.”

So how did our pick of companies from last year’s summit showcase go?

Read the original article

If you would like to find out more about the 2014 Summit, please see AANZ Summit 2014.

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Lead Partners

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Expert Partner

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AANZ Summit Sponsors

Callaghan Innovation “UniServices” Kiwinet “Spark”