2017 Angel Summit focuses on next 10 years

The tenth Annual New Zealand Angel Summit will be held at Cable Bay Winery – Waiheke Island from 1 – 3 November 2017. It’s theme; “Doubling down on success… the next ten years!”

New Zealand is now decade in to formal angel investing in New Zealand and has amassed some impressive statistics for a nation of our size. Over $500m into nearly 1000 deals in the more formal part of our market. Ten years ago there were 4 clubs and 100 or so angels. Today there are 10 clubs and over 650 angels. All this activity has delivered hundreds of jobs and tens of millions of revenue. It’s this value creation we want to continue to accelerate.

Ten years ago there were 4 clubs and 100 or so angels. Today there are 10 clubs and over 650 angels. All this activity has delivered hundreds of jobs and tens of millions of revenue. It’s this value creation we want to continue to accelerate.

The 10th Annual NZ Angel Summit is being held back where it all started at Cable Bay Winery on Waiheke Island. The choice of the small intimate venue continues the deliberate approach by the Angel Association to ensure it creates the right atmosphere for relaxed and informal conversations between active angel investors. The last two summits have sold out and it unapologetically prioritises attendance for those who are ‘doing deals’.

On the first morning the Summit will celebrate our community of investors and founders and their achievements in the past decade. There is so much to be proud of. The rest of the event will be spent digging into what we need to do to double down on our successes based on stories and insights from New Zealand’s heroes. International speakers, carefully vetted for their ability to both understand New Zealand’s unique circumstances and our aspiration for outcomes and success are flying in to present.

Showcasing Angel Investor Backed Ventures

The Showcase event which kicks off the event will include up to 10 venture in three tiers; seed, first formal round, last raise with a clear exit path. Each group of ventures will be introduced by an experienced angel investor who will talk about the investment opportunity, the return profile, valuations and potential acquirers.

New Zealand Investor Keynotes

Key Note sessions will include deep insight into what we can be proud of and what’s next. Stalwart investors will share memories of getting started – what was their vision and what inspired them, their challenges and what we need to do in the next decade to ensure value is delivered. These sessions will explore why our environment looked as it did 10 years ago, how far we’ve come and how we build on what we’ve created and set the vision for the next 10 years.

International Angel Investors

International special guests include Justin Milano (Good Startups, San Francisco, USA) who will explore the role of fear in the early-stage space. A veteran of Silicon Valley, Mr Milano has worked with angels and entrepreneurs to use cutting edge psychology and neuroscience, including emotional intelligence skills to help entrepreneurs and angels create break-throughs and unlock potential. Ron Wiessman (Band of Angels, San Francisco, US) will deliver a dose of reality exploring the critical the role of capital strategy and how tough it can be to source and entice an acquirers.

Actionable Insights

The extensive programme includes gritty content which covers; building strategic value, actively managing your portfolio for returns, Government’s role – identifying the right policy levers, the role of NZ corporate venture, and deep dives into term sheets – how have they have evolved and what role do they play in venture success lead by AANZ Expert Partner, Avid Legal’s Bruno Bordignon. Insight into which industries and technologies are going to irrevocably disrupt markets in the coming decades and make the best investment opportunities round out the valuable programme.

Finally, the event will also include the presentation of Arch Angel Award and two inaugural awards “Contribution to the industry” and “Lead angel and best venture award” – celebrating a great angel/founder collaboration.

To book your seat (preference is given to active angel investors) click here.

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Follow-on investments

During the Asian Business Angels Forum and AANZ Summit 2015 we talked to Nelson Gray, educator, angel investor, mentor, fund manager, and non-executive director of the Scottish Angel Capital Association.

In this interview Nelson Gray talks about what angel investors should know about follow-on investments.

 

You can meet a quality network of investors and experts in early-stage company growth, acquisition and exits in person by registering your place at the 9th Annual NZ Angel Summit 2016.

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Building an International Portfolio #ABAF15NZ

#ABAF15NZ: Building an Internation Portfolio

Getting real on the likely hood of cross-border deal syndication – the risks, the restrictions and the potential. Is it possible to build an international portfolio? What are the pros and cons?

Moderator – # Nelson Gray (Scottish Angel Capital Association, SCT)

# Ashley Krongold (Our Crowd, AUS)

# Raiyo Nariman (Malaysian Business Angel Network)

# Bob Kelly (Microsoft, US)

Click here to view video on youtube

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The Role and Relevance of Listing #ABAF15NZ

#ABA15NZ: The Role and Relevance of Listing

Where does listing fit in the lifecycle of an early-stage company? Is it different internationally? What are the options?

Introduction presentation from Tim Bennett, CEO, NZX who explains New Zealand’s regulatory environment, markets and opportunities for high growth companies and angel and venture capital investment markets.

Moderator – # Chris Twiss (NZVIF, NZ)

# Chris Twiss, New Zealand Venture Investment Fund

# Garth Sutherland, and Bronwyn McGrayth from Adherium, NZ who recently listed on the the New Zealand stock exchange

# Chris Twiss, NZVIF explains the NZ fund investing and compares to international markets with comment from Ron Weissman, US and David Chen, China.

How much time should founding team of early-stage companies be giving to thinking about IPO.

Click here to view video on youtube

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Role and Importance of IP in building Angel Venture Value #ABAF15NZ

#ABAF15NZ: Role and Importance of IP in building Angel Venture Value

A practical look at how IP can be leveraged to build value in ABC’s (Angel Backed Companies). Building revenue streams and IP portfolios.

What IP are Asian acquirers looking for? Do angels need to own the IP? What role does the exclusive licence play? What are sector specific consideration in IT vs. life science deals.

Moderator – # Anton Blijlevens (AJPark, NZ)

# Allan May (Life Science Angels, USA)

# Introduction to international panel and their ‘war stories’ about intellectual property in China, Australia, and New Zealand

# David Chen (AngelVest, China)

# David Hugues (NZ Plant and Food – Crown Research Institute, NZ)

# Jim Kalokerinos (Brisbane Angels, Australia)

Click here to watch video on youtube

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Equity Crowd Funding #ABAF15NZ

#ABAF15NZ: Equity Crowd Funding

Presenters from three platforms spanning UK, Australia and New Zealand look at current developments and dynamics of both accredited and unaccredited equity crowd funding. They also discuss its impact on angel investment and advances made by early-stage companies to change the world.

Moderator – # Ashley Krongold (Our Crowd, AUS)

# An intro to crowd funding in Australia

Slides available here

# Josh Daniell (Snowball, NZ)

# David Wallace (Armillary Private Capital and Crowdcube, NZ)

Click here to wtch video on youtube

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What’s Your Portfolio Strategy? #ABAF15NZ

#ABAF15NZ: What’s Your Portfolio Strategy?

Over three decades Bill Payne has successfully founded and invested in over 50 start-up companies. He talks briefly to the delegates of the Asian Business Angel Forum 2015 about building an early-stage investment portfolio.

Find out more about # Bill Payne here.

Click here to view video on youtube

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Valuable Advice from Lowndes BIS Workshop 5

Some of our wonderful international visitors who spoke at ABAF also spent some time in Auckland. Here are a selection of insights from the Lowndes Associates sponsored event which addressed “Effective Investment in Growth Companies.

Read more on www.business-intelligence.co.nz

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The Angel Evangelist

John May is founding chair of America’s Angel Capital Association (ACA). He’s championed the cause of entrepreneurs and angel investors since realising big organisations weren’t for him, establishing five US angel groups and now working internationally to establish more. He’s co-authored books on the subject, is managing partner of angel investment firm New Vantage Group and is investment director for UK-based global venture fund, Seraphim. He came to New Zealand to meet our angel community. We asked him why?

I loved it when I was here before, but I wanted to come back for longer, not just for a four-day thing… to get a better feel for the New Zealand business community, the angel community, but also the neighbourhood. It hasn’t disappointed.

 

But to what end, exactly?

I’ve been around the world running the (Ewing Marion Kauffman Foundation’s) Power of Angel Investing series and trying to get a better feel for what’s going on in different countries and how best to collaborate.

We’re not looking for countries that have the best deals to go write cheques, that’s the big fallacy: we’re not running international angel development workshops and building global networks because we’re deal orientated; we’re movement orientated.

What happens when your company wants to go from here to a bigger market in Southern California? Wouldn’t it be nice if there was communication between the angels of Southern California and the angels backing the company here? You don’t want to hire a lawyer in Southern California to tell you how to run a business in Southern California…wouldn’t it be better to have mentors and supporters in Southern California who are co-investors.

So you wanted to come here to build connections?

Yes and more. One of my big things is to get more overseas investors to come to our ACA conference to learn what we are doing.

Here’s some sobering statistics: even in the US – the largest economy in the world, the largest venture capital community in the world – we believe only about 5% of households are wealthy enough to be angels, not friends or family, but proper angels. And my definition of a proper angel is an individual who invests their own money in a stranger’s business, in a minority position, gives their time as well as their money and there is no one else in-between.

And of those 5% who can, we think there’s only 5% who do. And now we’re getting to the bottomline: not only do we think that only 5% of those who can, do, only 5% of those who do, ever do it in a structured, disciplined, portfolio diversification, networked group way and I bet New Zealand is pretty similar.

You really push the group concept. But why is it so important for that 5% of 5% to be part of an investment group?

What we’ve learnt is that we need to diversify our portfolios, which means getting out of our comfort zones. It also takes more money than we have personally to take a company that’s going to be significant from startup to breakeven and it takes time to do due diligence on the opportunity. Who’s going to make the phone calls? Who’s going to have the meetings? Who’s going to do the market research? So if you decide you’re going to diversify, if you’re going to do due diligence to make you comfortable, and you’re going to have enough money on the table to make it a viable company, what you learn very quickly is you can’t be a solo angel and do this.

What our companies need are cheques for US$250,000 to US$1 million and to deliver that and diversify your portfolio you need to be in a group, even better, a syndicate of groups – that’s the big movement in the US right now – the syndication of groups.

Why is that so important?

Well if you need US$2 million, it may be above the capacity of an individual group, but you may be able to bundle four angel groups or funds together and all of a sudden you’ve got a couple of million dollars, so then the company can finish developing their product or get their first sales and really get on their way.

You wrote the book: “Every business needs an angel” – why does every business need an angel?

The real wink is every high-growth, successful business, as opposed to a mom and pop store, needs an angel because it’s lonely out there doing it on your own; you need a mentor; you need risk capital; there’s so many reasons why angels are important for companies…an entrepreneur gets a board member, a friend, an adviser.

Doesn’t it depend on the angel they get?

Yes, and it depends on the entrepreneur. Some entrepreneurs just give lip service to the help; they really just want the money. Then there’s the lip service of an angel who says I’m going to be your friend, I’m going to be your adviser, I’m going to be available and then doesn’t answer the phone. It doesn’t always work. But it’s an art not a science.

The real wink is getting the right angel with the right entrepreneur because some angels can be great board members, but aren’t good at helping to find staff, sales or marketing; while some are good as a shoulder to cry on, but aren’t good at financials; some are good for startup and some are good for growth companies. That’s another reason why groups are better than individuals.

The right angel should always be a joint decision between the entrepreneur and the investors. There should be a chemistry between them and there should be a staging of the need, so the right investor for the company at the right time.

Should angel investors always have representative on the board?

Advisory boards are very important, but companies don’t need boards of directors until they’ve grown a little bit.

It’s also very important for [the chosen investor representative] to have a way of communicating to the other angel investors, so the entrepreneur doesn’t have to waste their time communicating with all of them.

What’s the most common mistake entrepreneurs make when they seek investment

Thinking they know it all. It’s quite rare to find a coachable, industry-savvy, less egotistical entrepreneur their first time around.

I’m a big believer in investing in second-time entrepreneurs. A serial entrepreneur is a wonderful thing to invest in, because someone has already paid for their mistakes the first time round. But that’s another thing that’s fascinating about here: New Zealand is a place where almost everyone is a first time entrepreneur.

Entrepreneurs need to understand the first thing angels look for is management, management, management; the second thing is a large market; and the third, if we’re smart, is the product or service, the technology, whatever. Yet most entrepreneurs want to sell us on the fact their thing is faster, cheaper, better, slicker, more fun first. But we invest in the jockey not the horse.

The problem is an entrepreneur has to have the dream and the ego to handle it. So there is a natural tendency to want to invest in someone who has a lot of confidence and a lot of energy. But if they are really going to grow their business into a significant company, they need to be humble enough to understand they can’t know everything: they are going to have to hire people; they are going to have to listen to people, so finding someone who is coachable is important.

What’s the most common thing angels do wrong?

Hearts over heads… and not providing enough tough love once we’ve invested: are you being direct enough; are you talking about the exit; are you educating the entrepreneur; are you telling it like it is instead of waiting until it gets worse to say something? That’s why you have to have the right chemistry; you can’t be in awe of each other. The entrepreneur shouldn’t think we’re just money and we shouldn’t think they are running the company so we shouldn’t give them our frank opinion.

Why do you love this area so much?

It’s the people. It’s the entrepreneurs. They are so important because they make businesses; they make money. We benefit from the vision, the energy, the business model of the entrepreneur…so the excitement for me is being a part of this journey.

Plus it’s what it does. It boosts any economy, any city to find a way to finance innovative new technologies and products. Economies will go backward if they don’t stay in touch with newer, faster ways of meeting their needs. And it creates jobs, futures. Major corporations are net job losers; they cut costs, find efficiencies. All the research shows startups and SMEs are the net job creators of modern economies.

But angels also have to make money in the end or it’s a losing proposition and will fade away.

What should we be doing more of in New Zealand to improve our angel ecosystem

Find as many ways as possible to educate the media, the government, the wider community that supporting high-growth companies matters; make people aware of the benefits to the entire economy of making this work, of encouraging more entrepreneurs, of making smarter entrepreneurs and of helping to make more and smarter angels.

We need to encourage more angels to increase the amount of capital available, because the more capital there is available the more likely people are to diversify and thus the more capital there is for different sectors to develop new products, and we need more angels to bring different skills into the mix. There is so much going on in social media and some of the new technology, for example, that you almost have to find a way to search out the recently cashed-out, under 40-year olds because they can make a material difference to understanding the current consumer market for those sorts of companies. It’s also hard to be an investor and help an entrepreneur and do due diligence on them if you don’t understand what they are doing.

We tend to talk to ourselves far too much.

By Lesley Springall

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#ABAF15NZ Speakers – Raiyo Nariman

Meet the speakers #ABAF15NZ – Raiyo Nariman

The Angel Association of New Zealand brings the 2015 Asian Business Angel Forum to Queenstown this October. Leading investors and early stage business specialists from around the globe will share their knowledge and make their New Zealand connection at this premier global investor forum

Presenters sharing personal learnings garnered from years of investing with the carefully curated audience of Angel groups, network and fund members from across this dynamic country include Raiyo Nariman founding VC of the Malaysian Business Angel Network.

Register-now

Raiyo Nariman specializes in commercialization of technology, research & IP, and the development, funding and growth of start-ups. As a Venture Manager, Raiyo personally invests and partners with founders, taking a hands-on role to ensure successful execution of commercialization & growth strategies, including international market entry and capital raising.

Raiyo’s entry into the venture arena started in New Zealand, as part of the founding executive team for a Foundation, where his focus was on the development, funding and incubation of new ventures. Raiyo’s executive-level engagements include CEO of Canterprise, the venture company at University of Canterbury, and MD of Encore Professional Services, a business he spun-out, established and grew for a PE fund in Hong Kong.

As the founding VP for the Malaysian Business Angel Network, Raiyo played a key role in establishing the current angel investor community in Malaysia and has also established, developed and managed angel networks in Hong Kong and Singapore, and works with angel clubs and associations across Asia and the West.

Raiyo is MD and Partner for Mercatus Ventures, a Malaysian-based early stage venture firm that invests in, and takes a hands-on role to develop, regional ventures. He is also a Partner in Serendipity Ventures, a Hong Kong-based boutique venture management firm, where he personally invests in early stage ventures and takes them to market.

Meet Raiyo, along with a host of angels from New Zealand’s angel investment community and the world at the Asian Business Angels Forum, Queenstown, October 14-15. Only a handful of seats remain.

Be quick to register yours. ABAF2015, NZ

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