Angel Summit 2020 in Review

The Angel Association New Zealand (AANZ) held its 13th annual summit at Hunting Lodge on the outskirts of Auckland in the lovely green rolling hills last week. Several members from Canterbury Angels were among the 160 in attendance. This year the focus was ‘How to be the best angel you can be’. The format for the two days was a good mixture of presentations, discussions and time to meet others who are passionate about angel investment.

Day one started with Ian Taylor from Animation Research who talked to us about his company who make the graphic overlays to help us all understand what’s happening in things like America’s cup, cricket, golf etc. Covid hit them hard but with some changes it allowed them to keep the entire workforce.

Bernard Hickey’s chat on early stage companies and their role in economic prosperity was very interesting and as usual he delivered it in a fun, captive way.  ‘NZ is looking like the best horse in the knackers yard’.

Some key points from day one included:

  • COVID has made us more adaptable and agile than ever before.
  • The economy in NZ will be rebuilt on tech/ICT.
  • We need to improve founder/investor relationships.
  • More talent is needed with access to NZ residency.
  • Angel investment is tracking to similar levels as 2019.
  • Globalisation and disruption of the service industry is needed, especially health sector.

The ‘fireside chat’ with Sir Stephen Tindall and his son Robbie was excellent on day two, speaking from their own experience and despite huge success they came across as very humble and down to earth people.

Some of their key must have’s in a company:

  • Scalability, great teams, people you want to spend time and work with.
  • How do the founders respond when things get tough?
  • Get the people side right and the rest will (often) follow.
  • In the last 10 years Angel Investing has changed significantly.

Some other takeaway nuggets of advice from VCs to Angels were:

  • Lead by example
  • Show the results
  • Exit plan
  • Be around more
  • Work together with VCs

To be the best Angel group that we can be we need to live up to the idea that it takes a village.

Ian Bishop from Mentemia spoke around founder mental health and some of the results were surprising – Entrepreneurs are 50% more likely to report mental health conditions:

  • 10x suffer from bi-polar disorder
  • 6x suffer from ADHD
  • 3x suffer from substance abuse
  • 2x have suicidal thoughts
  • 2x suffer from depression
  • 2x have psychiatric hospitalisation

The summit concluded with award presentations and the winner of the Arch Angel Award was Serge van Dam. Serge is an experienced high-tech company founder, director and investor. He loves globally-minded Kiwi software companies and is actively engaged with companies such as Montoux, Landlord Studio, Wiptser, Common Ledger, Tourwriter, Raygun and CoGo and is an exited investor in Publons and IMeasureU. The recipient of the Kotahitanga Award is one of Avid.legal’s founding partners, Bruno Bordignon. The Puawaitanga Award has been presented to FileInvite CEO James Sampson and investor-director chair, Flying Kiwi Angels’ Garth Hinton. See more here.

Gabby Addington
CA Operations Manager

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November Investor Evening

Thursday 26th November –  5:30pm – 8pm
Venue: 141 Cambridge Terrace

Our event sponsor Lane Neave have kindly offered to host our final CA event for 2020. Please register here.

Come along to listen to key players in the NZ and Canterbury start-up ecosystem.

Boyd Warren – ChristchurchNZ’s GM of Innovation and Business Growth. ChristchurchNZ is the city’s economic development and city profile agency charged with igniting bold ambition, excitement, connecting changemakers, stimulating economic activity and attracting visitors to Ōtautahi Christchurch.

Jon Sandbrook – Investment Manager at WNT Ventures which began as a collaboration between experienced entrepreneurs and investors passionate about helping emerging companies bring their visions to life. They have two existing funds, with one currently open to investors.


Maria José Alvarez 
and Byron van Vugt from New Zealand Growth Capital Partners The NZGCP is helping to build a vibrant early-stage investment market in New Zealand with two venture capital investment vehicles; the Aspire Fund and the Elevate Venture Fund.

Canterbury Angels’ members are welcome to bring along guests free of charge.

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Angel 2020 Summit

 

Angel 2020 Summit
Waimauku
Thursday 5th & Friday 6th November
Being the best Kiwi angel investor you can be… and how we can shape the future!
There are two qualities angels have in spades… optimism and creativity.

Covid is going to keep lobbing curve balls at us for a while but we are surging on with plans to run the summit in person. We are optimistic that we will be back at Level 1 by then and if we are not, then we will lean on the ‘creativity’ piece and run something fabulous and virtual.

If we are at Level 2 then the first 100 people registered will be our summit attendees. We will let you know when you register if you are not one of the first 100.

If we are at Level 3 or 4, then we will go virtual. At that point, if you’re still up for attending the virtual event and have paid for your in-person summit ticket we will refund a percentage of your ticket. We will provide a full refund if you do not wish to attend the virtual event.

We are continuing to line up some terrific speakers. In launching registrations we mentioned that Animation Research’s Ian Taylor, who was just fantastic at the Waiheke Summit in 2017, is returning to talk to us about “why this is the time to be thinking differently”. Other sessions will include a fireside chat with a rock star founder and investor team who are scaling rapidly, leveraging New Zealand’s unique reputation to create venture value, a debate on whether you should love or hate convertible notes and a repeat of last year’s popular session with three serial investors sharing their portfolios and their performance.

Please feel free to check out the DRAFT programme and let us know if you have any great ideas or contacts for speakers.

Thursday 5th and Friday 6th November.
Hunting Lodge Winery in Waimauku
There are only a few early bird registrations left. Register here to snaffle one.

Member only Early bird tickets: $1206.35 incl gst

Full member ticket : $1,321.35 incl gst

Non member ticket : $1,713.50 incl gst

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August Investor Evening

Thursday 6th August –  5:30pm – 8pm
Venue: EY – Level 4, 93 Cambridge Terrace

CA events are back after a prolonged break due to the Covid-19 pandemic. Our event sponsor EY have kindly offered to host us. Make sure you add Thursday 6th August in your calendar to come along to our first investor evening of 2020. Please register here.

We have a great line up of companies confirmed alongside an opportunity with an ArcAngels Fund.

homeAR Launched in 2019, homeAR is an augmented reality platform designed to transform the residential construction industry, both in New Zealand and globally. Beyond simple visualisation, the homeAR platform provides both builder and buyer the tools to communicate, make decisions and create project success – from initial research to completion. Our vision for homeAR is to not only grow sales, reduce wastage and improve margins for our customers, but to grow the residential construction industry as a whole.

 

CarbonClick enables businesses to offer traceable, trusted carbon offsets with any purchase.

 

2020 HiTech Awards finalist and Canterbury Angels portfolio  company FileInvite will be giving an update. James Sampson Founder & CEO will outline their extraordinary 200% YoY growth, and what’s next for the company.

 

New Zealand and Beyond is a full service business, supporting New Zealand skincare
companies on every step of their journey into China. NZB was created after six months of research and development, our business model has been specifically designed to solve the problems kiwi companies are facing when accessing China.

 

ArcAngels is a membership organisation that invests in early stage female-led startups in New Zealand. ArcAngels members have to-date invested over $1.6 million in 16 companies & funds. Alongside the network, ArcAngels is raising a Fund to invest in female-led startups.  It will be the first start-up fund exclusively focused for female founders in New Zealand. So far, the Fund already has commitments of almost $1.4million and has in turn invested into 6 companies – including: Beany, Voltaic, Limpidity, Chnnl, Yabble and Chatterize.

Canterbury Angels’ members are welcome to bring along guests free of charge.

 

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Take Flight – June 4th

New Zealand Trade & Enterprise and Mainland Angel Investors (MAI) would like to invite you to join us for Take Flight, a virtual showcase with pitches from four innovative companies going global from the South.

Take flight is about showcasing great growth businesses in the South. Each company will pitch for five minutes, followed by five minutes of Q&A from the audience.

MAI is an angel investment collective formed by Start Up Dunedin, Start Up Queenstown Lakes and COIN South as a meeting point for start-ups ready to scale and local angels who generously want to give more money to see the south succeed.

For an opportunity to be part of MAI’s inaugural showcase please register here.

Further details, including a link for you to join, will be sent closer to the time.

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Funding for cashflow forecasting & Webinar invitation

In an era where the news is outdated before it is in print, there is much to digest from the almost daily announcements of new forms of Government relief to regulatory reform. To help inform some of these crucial decisions in the coming weeks, we invite you to join in our New Zealand in recovery – planning for business post COVID-19  Tax Watch webinar.

In this webinar we will discuss the latest developments on the Government’s response including:

  • Details on the recent tax reform and key options for administrative relief available from Inland Revenue – and how these can be used to relieve cash flow
  • What transitioning to lower Alert levels will mean for business across New Zealand
  • Pitfalls to watch out for in managing your employment obligations and understanding the wage subsidy scheme
  • Privacy and commercial law considerations for operating in the “new normal”
  • As well as other key developments and opportunities for relief.

If you have any immediate questions, please reach out to matthew.hanley@nz.ey.com

We look forward to welcoming you at our webcast.

Date: Friday, 24 April 2020

Time: 10.00am – 11.00am NZT

Register here.

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Cash Flow Health guide – Founders

NZTE are running cash flow clinics for companies across their portfolio. See below the Cash Flow Health Check guide for founders for your reference. The purpose of the document is to help founders to understand the cash flow impacts in the current environment, and highlight ways they can mitigate and plan. There have been a number of government support packages announced which help feed into this.

It runs through a series of questions and considerations on current cash position, forward cash expectations, financing and funding and general finance considerations. You can also find references to key government websites which set out the support package and general guidance for this time.

You are very welcome to share this document with anyone/ founder/ company in your network.

Our overall message for founders is:

  • Cash needs to be reserved now.
  • Re-examine demand assumptions that drive your revenue lines (not just your customers but your customer’s customers), and all cost assumptions.
  • Speak to your current funders asap, they may be able to see you through this period of uncertainty.
  • With things changing daily we understand it is hard to be prepared in this situation, however, by being informed of your position you will put yourself in the best place possible to talk to funders/advisors/banks.

At this point, their team is focused on one-on-one support with specific customers. NZTE are considering holding one-to-many cashflow clinics and once this is shaped up we can update you on what is available.

NZTE Cash Flow Health Check 24.3

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CA Covid-19 Update

Canterbury Angels remains open for business and will continue to provide all services as per normal. We are now working from home, you shouldn’t see any disruption to the efficiency of CA over the coming months. 

Key Links

Government website for everything you need to know about COVID-19:

Government’s media releases:

Minister’s speech to Parliament

Factsheets:

Support Package:

Information for businesses:

“Flatten the curve”:

Resources for startup companies:

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December Update

Meri Kirihimete,

We’ve Had a Very Good Year

Since our inception in 2015 Canterbury Angels has been steadily building its capability and presence in the start-up ecosystem and in the early stage company investment market. Based on this good work, 2019 may well be a tipping point for CA as we have seen significant increases in activity across the board.

  • membership is up 19%
  • the number of active investors has increased
  • CA members have invested $845k in 9 deals
  • attendance at pitching events has been consistently strong
  • the number and quality of companies pitching has increased.
  • our profile and following on social media channels has increased.

Our best year by some distance.

2020 and Beyond

To continue our momentum next year we will be focused on

  • growing and diversifying our membership together with the number of active investors.
  • founder education – its critical we support founders so they can be effective leaders and manage their businesses effectively
  • investor education to make sure our members have an understanding of the dynamics of Angel investing and how they can support founders to be more successful
  • working closely alongside the other South Island Angel groups to advance the growth of Angel investing throughout the Mainland.

Thank you for supporting CA throughout the year. We welcome your continued involvement and support.  Also a big thanks to the CA Board for giving up their time to help grow and develop CA. A special mention goes to Gabby our Operations Manager for her work and Shane our Treasurer who has been very busy with our deal flow this year.

CA wishes you an enjoyable and safe Christmas and New Year with your family and friends.

Ngā mihi

Paul Claridge
CA Chair

Interesting Stuff

  • AANZ 2019 Annual Summit – Check out the latest newsletter for access to all the presentations at the summit – A good summertime read.
  • Why we should ask companies for a one page executive summary– a thoughtful piece on why and how founders should develop a compelling executive summary for themselves and investors.

CA Investment Activity

Recent Investments 

EVNEX have closed their Convertible Note round having raised $500k. CA members committed $260k to this deal.

Winely  CA members have committed $50k towards Winely’s
round.which closes this week.


Tapi CA members have committed $60k to Tapi’s round which closes this week.

What’s coming up?

Save the date for Thursday 20th February, 5:30pm. More details will follow in the new year.

Who should be there ?

  • Startups that will be seeking investment new year.
  • Anyone wanting to get a better understanding of fund raising
  • Investors looking for future investments
  • CA members

It’s great fun so make sure you get a seat and register here to attend, share the news and feel free to bring a friend.

CA are proudly supported by:

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October Investor Evening

October Investor Evening

Thursday 17th October –  5:30pm
Venue: BNZ Centre
Level 4, 111 Cashel Street
Register here

Get your ticket now for this Thursday and come along to our last official investor evening of 2019 (last Pitch & Pizza is November 21st). Canterbury Angels event sponsor BNZ have kindly offered to host us. We are in the process of recruiting new members so if you know of someone who may be interested please feel free to register them and bring them along as your guest.

See our lineup below
 

Veritide is an innovative company with committed scientists and engineers developing biological detection and identification solutions.

EVNEX are back and raising another round. EVNEX are a New Zealand company designing the future of EV  charging. Their solutions help home and fleet customers charge faster, save money, and reduce their environmental impact.

Astrolab adopts complex technologies across a range of sectors. Working alongside our early-stage partners, we develop robust venture pathways enabling NZ’s ideas to navigate toward success on the world stage.

 
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