A national angel investment network, AngelLink, has been launched to back high-growth technology ventures in New Zealand, with an emphasis on life sciences, engineering, and information and communication technologies (ICT). AngelLink aims to connect active angel investors with IP-based deal flow to facilitate early stage investment. AngelLink has partnered with the NZ Venture Investment Fund (NZVIF) through its Seed Co-Investment Fund. NZVIF will contribute up to $4 million, which AngelLink will match. Follow on investments from the angel investors could substantially increase the investment over the initial $8 million target.

The angel network was initiated by WaikatoLink, the commercialization arm of the University of Waikato, which will play a role managing the network and screening, monitoring, and incubating ventures. “We need to take an NZ Inc. approach if we want to achieve the scale required for the innovation ecosystem to drive New Zealand’s success,” says WaikatoLink CEO Mark Stuart. AngelLink’s collaborative investment approach will mirror WaikatoLink’s approach with Unicom — the university commercialization consortium comprising WaikatoLink, AUT University, Lincoln University, and Canterbury University. “National collaboration is the best way to ensure the highest chance of success for ventures,” Stuart comments.

One of the core group of experienced investors will serve as lead for each potential investment. Deal flow will come from sources across New Zealand, including research institutions, universities, and incubators. Companies seeking investment will be screened to validate their suitability for investment. Those accepted for investment will be mentored to prepare them for due diligence and presentation to potential angel investors. Post-investment, each venture will be monitored to ensure market visibility and to plan for future investment rounds and syndication. To support commercialization, AngelLink will network with existing collaborations, including Unicom, and will connect ventures to the continuum of funding, spanning proof of concept, angel investment, early stage VC, expansion stage VC, and public markets. “We need to start with the end in mind and bring the market in from the start,” Stuart says.

Source: Scoop

Posted September 2nd, 2009 under Tech Transfer

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