Newsletter ➢ ᴀFKAғ•2019#07

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15 March 2019 #07 Interesting pitch night next Tuesday, one AI math tutor and one auto feeder to combat the greedy cow syndrome. Teachers and farmers in FKA ranks will rejoice or at least listen with interest. Tue 19 March, 18:30 at KPMG, 18 Viaduct Harbour Ave, AKL as usual. Techion is our portfolio company #07.  They have made a lot of progress since we first invested. With strong support from existing shareholders, only about $400k left in their current round. CEO Greg Mirams has supplied a brief summary sheet and a more detailed overview. If that whets your appetite, please get in touch with Greg as our investor rep Ian is overseas.  A little known fact: Techion was Rudi's second investment in his quest to become a Serial Sh!t Investor. Great news from our portfolio company #13 just in. Vlatko and his team at Hot Lime Labs have ticked off the third milestone. In fact, they have done way better than expected. That means the efficiency and hence the cost-benefit calculations are now more attractive. That makes it really easy to transfer the third milestone tranche. Under the investment terms, FKA will shortly be entitled to subscribe further shares. That looks attractive with the progress to date. Garry.Bluett@fka.nz is our investor rep and can tell you more. Isabel has talked with Debra, Jackie and Phil. All feel there is a good mutual fit.  Isabel adds «According to my statistic: there are 53 active angels, 6 women = 11% females. If I go through the veto gate that makes 54 active angels, 7 women = 13% females. FKA will thereby be above the average of 11% female angels across Europe.»  But hang on! Before we surrender to her seductive line of argument, let's make sure Isabel doesn't have a cupboard full of skeletons that dictate that we stay put on our current stats and shut the door on her. Tell the bone doctors aka FKA directors in confidence. BTW Isabel is currently checking out "Kill Bill", so active she is. See here some stats on angelic gender balance. Welcome, Ky.Hacker@fka.nz ! He has passed through the veto gate without incident. No skeletons have surfaced. We now have 53 active www.fka.nz/angels. BTW, Ky can backpaddle like few others. Marisa outed herself at InvestHer last week as never having stepped into gumboots in her life. We all know that is not because she is a slacker. In this talk from 2014, we learn how busy her parents kept her as a child and that there would have been NO time to frolic on a farm.  Danish architect Dorte Mandrup makes a very interesting point! Two posts on 'Angel Fees'. With the second one Rudi resigns his official AANZ role, he is just not diplomatic enough. A humorous video showing a day in the life of a man angel. A KPMG Love song! It's been a long time coming and here is Vodafone's promo video for iDefigo's surveillance camera and service. iDefigo is our portfolio company #08 and now fully established in the UK.  You are invited   [if Rudi is, so are all FKAngels and our esteemed readers] to the official opening of Rewired, Xero’s new c-oworking [accounting spell as per the invite] and event space in Auckland on Tuesday, 19 March 2019. Sadly, this clashes with our pitch night but drinks and canapés are beckoning for those who don't have a ticket to KPMG's superior fare. More details and registration HERE. LOL! The new AANZ investment templates bring a new acronym. We had SSA for the combined shareholders' and subscription agreement. Jason from our portfolio company Spoke was creative and turned that into SUSA subscription and shareholders' agreement. Now Debra keeps talking about a SHAG or the shareholders' agreement which has been separated from the subscription agreement to hold for a number of investment rounds. Great stuff when lawyers provide humour and entertainment. It takes two big shags to make a little shag and it takes two law firms to finesse a startup SHAG. In our most recent round, LoJo were acting for FKA and Simmonds Stewart for FormusLabs. All the funds for the FormusLabs round are in and waiting for Debra to push go so that all can be finalised. DEAL DONE!