Angel investors shelled out a “solid” $23 million in the first half of the year but Angel Association chairman Marcel van den Assum said five to 10 times that sum would be needed to help the country’s young businesses reach their full potential.

The level of investment was up from $20m in the same period last year, but down on the $26m invested in the first half of 2014.

Venture Investment Fund (NZVIF) director Bridget Unsworth said only $5m of the total went into new businesses.

Read more