• Cumulative investment since 2006 reaching over $600 million
• A growing number of cities outside the main centres establishing angel networks including Nelson, Tauranga and Timaru.
PwC New Zealand Partner Anand Reddy says, "By taking a look at the data we can see just how vibrant the startup community has become. This NZVIF data is consistent with the TIN100 reports showing New Zealand tech sector revenue growing from $6.3 billion in 2008 to $11.1 billion in 2018, with many initially angel-backed companies contributing to this growth."
John O'Hara Angel Association Chair of New Zealand comments, "We have much to celebrate over the past 10 years of early-stage investing and it is now a legitimate asset class attracting the attention of more institutional investors. We are starting to see green shoots for larger rounds of capital too with increasing syndication and more, and larger, early-stage funds coming into the market. I do not believe it will be long before we can support successful businesses with New Zealand-led $10 million series A rounds."
These findings form the basis of the latest edition of Startup Investment magazine, a bi-annual publication from PwC New Zealand and the Angel Association. More information can be found at pwc.co.nz/startupmagazine