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.
There was a mistake in last week's issue giving the date for the pitch night as Wed 27 April. Due to Anzac Day falling on a Tuesday, it is on the day following day Wednesday 26 April. We had mistakenly reserved the Tuesday with KPMG and couldn't then move it to Wednesday. Thankfully the folks at LoJo have jumped in to provide a venue.
Moxion - Rudi and team are working to have the DD Report ready for an investment vote next week.
Heliase - Chris is keeping this in the air and everyone in suspense for longer than any of his seaplanes could stay airborne.
Hot Lime Labs - Garry is still waiting for the DD Data Room to be fully populated before his team can rip into things.
MyBitcoinSaver - Jesper and team have started with a roar since last month's positive DD vote.
Remember Taimana? Simon pitched back in October 2015. We voted to do DD but didn't muster enough people to drive it - frustrating. It was about producing gem quality diamonds. News just in is: We have cracked itI Here the 2015 pitch video, here their progress update.
The last party date was jinxed by Cyclone Cook. That hasn't stopped Hengjie and co to grow user numbers further. RSVP to Alliv with your estimate of the total user count one hour into the party and you could win a prize.
FKAngels don't know enough about Heath Tech, maybe with the exception of Claudia, Colin and Uli. Here an interesting report and also details of an investor roundtable, 11 May 10:00-14:30 chez AUT. Both can up-skill some of those with an appetite for this space, a growing market with clear pain points but also unique challenges. Editorial note: Debra Hall is one of the investors at the roundtable. She will always bring something of value to any table. Yet, our Chief Cat Herder is at a loss how to get her to the FKA table.
Demo day is Friday 19 May 1330 at Foxglove, Queens Wharf, Wellington. RSVP essential.
This charity event is raising funds in May to de-sex pussies. Bizzare but it is what can land on a Chief Cat Herder's desk. Find out more here.
We started with 'The Dirty Dozen' in May 2014. Now, we're adding another dozen!
Still waiting on 5 of 63 docs and 2x $25k before formally filing everything. Let the journey begin!
Chris J. Reed is the Only NASDAQ listed CEO with a mohawk He is also the founder CEO of Black Marketing which is a global marketing consultancy that specialises in enabling LinkedIn for C-suite executives & entrepreneurs. He has taken the company from 1 person in 1 country in 2014 to a full listing on the NASDAQ in 2016 as part of The Marketing Group plc where he is the Global President of LinkedIn Marketing.
He has been named an Official LinkedIn Power Profile 2012-2016, has one of the world's most viewed LinkedIn profiles with 55,000 connections, in NZ connected to Rudi Bublitz from Flying Kiwi Angels. He is also an International best-selling author with his book "LinkedIn Mastery for Entrepreneurs", which will be given for free at this event.
Faith in the Comrie/Warren duo is half restored. They finished their first Targa NZ road race in the ditch, a fast fail. That didn't stop them from having another go. This time they finished on the finish line with the finisher trophy to prove it!
Scramble to get on the LP2 train is on
Uli Wiehle, in true Germanic fashion and Garth Hinton who likes to play it safe are the first two on the train with all docs compete and their $25k received in FKA's Glaister trust account
Little know fact: Jackie below originally modelled as the gun-wielding assassin in front of our veto gate above, now she wants to get through the gate herself.
Today we have Jackie Young presenting at the VETO Gate. She has spoken with Tim, James and Rudi to straighten the warped reality spin she has received since 2014 from her husband and FKA's independent director Greg.
If anyone knows reasons why Jackie should not join our group, now is the time to speak up. Please email the board in confidence!
Let's give a warm welcome to Alan as FKAssociate with Flying Kiwi Angels. No skeletons were found in his closet.
Only the 20 existing LP's from LP2 have voted on last week's pitches. The accession of new angels has to be processed in a single batch which should be completed for by the next pitch night. With 2x 20 votes in under 48 hours, we had a great response rate.
Only 8 YES out of 20 votes, unfortunately, means we'll not proceed with DD on JUCEBOX. Thanks to Uli for bringing Ulrich. Now, MyBitcoinSaver was an interesting vote. It was only the last vote at the 16th hour from James that put it across the line with 11 YES out of 20 votes. Congrats to CEO Sam and champion Jesper, may the DD work begin. Pitch Video from MyBitcoinSaver.com
From the Q+A after the pitch and the comments from voting LP's it is clear that there are strong opinions on MyBitcoinSaver.
Fan or devil's advocate? GET in touch with Jesper.Petersen@fka.nz to be in on this DD.
However, what we've just gained in voting speed we seem to have lost in DD speed. Heliase (Chris Sattler), Moxion (Rudi Bublitz) and Hot Lime Labs (Garry Bluett) are still going.
Editorial corrections: Last week we also had ADI.Clinic in Wellington thanks to Ian Clarke steering and manning that ship.
This week we held ADI.Clinic in Wanaka, Whangarei and Auckland. Wayne Hudson and Charlie have seen their most interesting day in Wanaka yet. Whangarei seems to get the youngest visitors by far. Thanks to Benjamin Pittman and Tony Collins for helping Martin. Auckland saw Garth, Karl, Uli, Rudi and Zack running a fully booked day. Swati from www.speaqwith.me received a lot of interest, very early but very impressive results for autism.
Jai Somaratne - OMDD
He is Chief Paver at PaveCraft, now also Deus DD at Flying Kiwi Angels.
Josh putting it more formally. "FKA are delighted to announce the appointment of Jai Somaratne into the role of Ops Manager•Due Diligence. Since joining FKA Jai has had a big impact with his investment insight and diligence, work in pulling together LLP2, not to mention his magnetic personality! This role is about helping each DD Lead and team to get from DD Vote to the finished DD Report."
Charlie James - OMIM
He worked hard, he claims, now, he certainly plays harder than most. He is exec director at Uproar and also Portfolio Populator at Flying Kiwi Angels.
Josh putting it more formally. "FKA are delighted to confirm Charlie James continues with his role of Ops Manager•Investment Managment. Charlie is part-responsible for grandfathering FKA and his contribution since then, as the wise counter balance to the Chief Cat Herder has been invaluable. His role picks up from Jai and helps each DD Lead from Investment Vote to signed deal docs and collected funds."
Judith Marecek from Velocity, the UOA Entrepreneurship Programme is calling for judges and mentors in the 2017 round. Many FKAngels have enjoyed this over the years. Heath and Rudi were the mentors for the 2013 winners IMeasureU. Read more and register here.
Chris Chandler says "Worth applying for the free US flights and kudos from this US Export Competition. Entry requires little effort, great for FKA portfolio companies and others if they have a smidgen of US exports. I'm judging but don't do favours."
NZSA Dinner •Leigh Flounders is proving distance is no barrier to changing the way Chinese consumers interact with Kiwi and Australian businesses.
Tuesday 11 April 2017 5.30pm Glengarry Wine Tasting Room, Wellesley St, AKL
Just register here.
Thu 13 Apr ◇ Kami 3M Party
17:00+ 46 Albert St, Auckland
Lots of great Tech Events in May al over NZ Jenn, the Clamp is assembling an impressive lineup. For example, UK KEA king Peter Gillingwater is bringing a cohort of UK-based experts, mostly Kiwis to provide their insights into international expansion, with a focus on UK and Europe, including why Brexit may be great for NZ business.