With 2019 coming to an end, I wanted to reflect on what an action-packed year it’s been with positive changes in Enterprise Angels and the angel and venture capital industry in New Zealand.
Our team has changed a bit to support our growing role in providing admin and management services to funds – now three EA funds and the Purpose Capital Impact Fund. Our Investment Associate, Jackson, left to go on his OE early in the year and we were fortunate to have Jake ably fill this role. We recently welcomed a new Investment Graduate (Josh) and part-time intern (Jordan) to complete our investment team.
In July I was thrilled to be promoted to CEO and Bill Murphy moved to a part-time Executive Chair role to focus on the Purpose Capital Impact Fund. The transition has been very smooth and I’m thoroughly enjoying the new connections and strategic opportunities that this has brought with it. Active angel investor and CFO, Julian So, has been working closely with me as Business Development Director since September. Our fresh, diverse team is a great asset to take us into 2020!
Over 2019, we undertook project work on impact investing learning a lot about how our members like to make an impact, not just in helping individual companies, but also with respect to social and environmental change.
In the impact space, we also supported Bill Murphy with the launch of the Purpose Capital Impact Fund, which recently exceeded its $20m minimum.
We launched our new website and merged it with AngelEquity, our wholesale investor platform, to consolidate our messaging and processes.
On the capital raising front, we raised $3.1 million for 19 companies and over $2.5 million for EA Fund 3.
EA Fund 3 has made its first investments in Firstcheck, Inhibit Coatings and JRNY. The portfolio companies are already showing great progress with JRNY recently securing a partnership with NTUC Income, one of Singapore’s largest general and health insurance providers. With my recent promotion to CEO, I secured an extension to keep the fund open until March 2020.
In November, I attended the Angel Association Annual Summit – a fantastic event where I reconnected with co-investors and made new friends with investors and founders throughout New Zealand and further afield. I had the opportunity to share a bit about the Enterprise Angels network and portfolio to the audience – message me if you want a copy of the presentation.
I’m fortunate to have the support of a wonderful, experienced board: Alan Bougen, Beppie Holm, Bill Murphy, Bruce Bartley, James Beale, Mark Ingle, Michelle Malcolm and Tracey Hook – thank you all. Not to mention the support of 200 members, 6 strategic partners and 14 corporate partners. My team and I truly value your support in this exciting space.
Have a safe and happy New Year and I hope to connect with many of you in 2020!
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