SADLY, today's Kami's party for 3M+ Users ? had to be pushed out to next Friday. Turns out the 3,000,001st user was a serial killer and has been causing major issues in the Kami Cloud that require urgent attention.
Meet Phil Southward, a Kiwi living in Munich and passionate about helping and investing in Kiwi startups. He spoke with Uli, Charlie and Rudi, and all see a great level of compatibility.
Phil was referred by lone wolf Lance Wiggs who doesn't tolerate most angels but minds not so much the flying Kiwi.
Now is the time to speak up, tell us in confidence if there are any reasons not to have Phil join our group. Simply email all.Directors@FKA.NZ.
April Pitch Night #29
Thank you for hosting our April pitch night on Wednesday to Andrew Wallace and his team at Lowndes Jordan or LoJo as they like to shorten it. Great venue, super views and what a privilege to go up the lifts after 6 pm. We also had a fearless contingent from KPMG joining us on level 15 of the PwC Tower.
Thank you also to Nathan Bryant-Taukiri or Nate as many like to shorten his name. Nate gave a brief overview of what Potentia do and how they share FKA's passion for growing great Kiwi tech companies. Little known fact: Josh is the founder of Potentia but has now surrendered all executive control to Nate and his management team, retaining only a board seat. This gives Josh more time to give FKAngels a hard time, or should we say, show them a good time.
We are absolutely delighted to welcome Nate and his team at Potentia on board with FKA as new sponsors.
A Brief Explanation
The FKA fund (limited partnerships LP1 + LP2) drives the initial DD and appointment of an investor rep for all portfolio companies. The fund investment is only a modest $50-80k and the bulk of investment funding comes from the co-investment of individual angels and other co-investors. Then portfolio companies keep all investors informed via the FKA investor rep and they come to individual angels for any follow-on round.
At Wednesday's pitch night, we had one initial pitch to join the FKA Portfolio from Wherewolf, and two follow-on rounds from Uproar and Techion.
Wherewolf founder Ben Calder true to the company cannot be deterred. He pitched in 2015, we did DD but declined with recommendations. He took it well and took our advice. Now he is back with strong growth at breakeven. This will go to LP2 DD Vote.
What he does here and his pitch here.
Uproar gave an update and seek more funds. Here the pitch video. They hit one wall but tore down another. If you want to participate in this round please talk to Charlie.James@fka.nz.
Moxion - Rudi says, one section on the DD report still to be completed, then review and vote.
Heliase - Chris cannot give a completion date yet.
Hot Lime Labs- Garry says, Vladko still working full time for CI, little in the data room as of yet. Agreed with Vladko that he first progress with Powerhouse as they can provide more wraparound support. We will then re-activate our DD team when the deal is more fully defined.
MyBitcoinSaver - Jesper and team have agreed on a revised pre-money that makes sense for everyone to proceed.
The ADI.Clinic in Auckland is now very popular with founders but becoming almost too popular angels. Therefore our Chief Cat Herder is contemplating the introduction of a ticketing system for angels. This would be not to ticket those who talk too long but it would manage session access. With 5 to 6 mentors in the cosy meeting room at BizDojo, we are in danger of seeing founders crowded out.
Our ADI.Clinic Queenstown lone soldier Aden was struggling to keep up with ultra trail runner Whitney Dagg looking at her all natural post workout drink.