There's $10 million up for grabs for startups over the next five years, thanks to a renewed partnership between Ice Angels and NZVIF.
Ice Angels is Australasia’s largest angel investment group, and through an agreement with NZVIF, invested $8 million into 12 companies over the last four years. The co-investment partnership sees NZVIF committing up to $4 million into companies selected by Ice Angel members.
Ice Angels' investors are particularly interested in early stage ventures with international growth potential within sectors including software, media, internet, communications, life sciences, and medical devices, according to chairman Brian Casey.
“New Zealand needs to grow young technology companies and turn them into world-leaders. We need to be developing the talent, networks and capital to make it possible," he said. "The more capital we can deploy into the eco-system, the more likely that some of these companies will reach their potential.”
Since its establishment in 2003, Ice Angels has invested more than $30 million in 33 companies (inlcuding Green Button, Nexus6 and Biomatters) over 60 rounds. We have invested into successful companies like Green Button, Inro,
NZVIF chief executive Franceska Banga said it was keen to maintain investment momentum.
“Across the 14 angel groups we have partnered with, NZVIF has co-invested into 70 young companies since the Seed Fund was established in 2006. We estimate that these and other angel investors in NZ will have at least invested into that number again over that period, meaning there are around 140 to 150 companies in the pipeline of emerging technology companies."
Last week NZVIF pledged $20 million toward PayPal founder and Facebook investor Peter Thiel’s local venture capital fund.