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Newsletter ➢ ᴀFKAғ•2017#42

24/11/2017

24 November 2017 #42

Mon 16:00	ADI.Clinic, Hamilton @ KMPG
Tue 18:30	FKA Pitch Night #036 @ KPMG 18 Viaduct Harbour Rd, AKL
Thu 16:00	ADI.Clinic, Auckland @ GridAKL
	Coming Soon
Dec 06	AANZ Xmas Drinks, AKL, EY
Dec 07	US Market Entry, AKL, KPMG Lauder Erasmus et al
Dec 15	Issue 45/2017 of Another FKA Friday

Your investors should look like they were invited guests, not the result of a scavenger hunt. </>

Â© Já´ÊœÉ´ Há´œsá´›á´É´_{ism #002} </>

The press release of FKA's first exit and what an exit it is! Also StretchSense on Newshub TV.

Our second Ben also hit the press on the same day.

More background on recent developments at StretchSense. Much of which was being kept under wraps whilst the deal was progressing over recent months. Thank you to all FKAngels in LP1 and to all co-investors for observing strict confidentiality.
Special thanks to Ralf Muller, Heath Milligan, John Newton, Chris Sattler and Rudi Bublitz for helping hands on to make StretchSense successful.

Get in touch with Angus Bow who was part of the original StretchSense DD Team. He loves deep IP and Kiwi company Wing Acoustics has plenty of it. He is organising a hearing in Takapuna, Friday 1 December.

The Angel Association invites all FKAngels for Christmas drinks on the deck of the EY offices in Takutai Square.

Suse Reynolds, AANZ & Andrew Moorby, EY

Location: EY Offices, 2 Takutai Square, Auckland
Date: 6 December 2017, 5.00pm â€“ 7.30pm
Cost: Free to members and friends of AANZ ðŸ‘

RSVP

With 10+ taking this up from FKA ranks alone this should be great angelic get together. Thank you to Suse and Andrew for putting this together.

Option 3 "Drinks with Suse and Andrew" won over "Black Water Rafting". Impressive still how many FKAngels are up for a Sunday 6am start to get wet. However, December is just too busy an so Tim Gelston our CPA á´„ÊœÉªá´‡êœ° á´˜á´€Ê€á´›Ê á´€É´Éªá´á´€á´›á´‡á´œÊ€ has decided to get everyone wet to mark the start of the 2018 angel investing season.

Lauder has put together a workshop, breakfast and a brain dump on US Market Entry next month. Share it on LinkedIn!

This is our last pitch night in 2017 and the first to celebrate an exit.
Better be there! We'll have no new investment pitch. We have only one active DD Team lead by Garth on FileInvite.
What a year it has been, Josh and Tim will do a double act and sum it up. Hengjie from Kami will give a brief update and may have one other.

Paul Trotter send in this picture from today's NZ Herald. Claims he and Helen trotted the red carpet for FKA.

Marisa Fong has spoken with Josh, Uli and Katheren. They all feel that there is a good mutual fit for Marisa to join FKA. However, if anyone knows of any skeletons in her closet or otherwise that speak against her joining, now is the time to speak up. In strict confidence, please email the FKA directors.

Newsletter ➢ ᴀFKAғ•2017#41

17/11/2017

17 November 2017 #41

Easier said than done. That is why FKA puts a lot of emphasis on good due diligence.

Mon 16:00	ADI.Clinic, Wellington
Tue 10:00	FKA Board Meeting
Wed 16:00	ADI.Clinic, Takapuna
Thu 16:00	ADI.Clinic, Auckland
All SAT	TGS Ignition Day @ Level One HQ Tim G + Rudi B
	Coming Soon
Dec 06	AANZ Xmas Drinks, AKL, EY
Dec 07	US Market Entry, AKL, KPMG Lauder Erasmus et al
Dec 15	Issue 45/2017 of Another FKA Friday

In the theme park of finance, angel investing is the fun house.â€‹</>

Â© Já´ÊœÉ´ Há´œsá´›á´É´_{ism #001} â€‹</>

fileinvite.com diligence is now under way. Iain Anderson is an FKApplicant and has rolled up his sleeves to help Garth and his team. They had a full product demo this week and hope to be all done before Xmas.

â€‹Rudi attended the Return on Science Physical Science investment committee meeting. Very interesting including new tech in the service robotics space as illustrated in the above video.

It's a great way for FKAngels to find early IP prospects. This is where Ralf found StretchSense. Also good to learn from the more frequent ROS investment decisions and bring that insight back to our angelic decisions. â€‹â˜ž Talk to Rudi if you're interested.

This photo was taken at the StretchSense FPC#01 AGM that brought a lot of good news. Spot the 3.5 FKAngels above. Our investor rep Chris Sattler attend the AGM but did not fit on the lens. As it is now virtually impossible to get all 100+ SS staff on a single picture this photo was also reused in a recent post announcing that SS was the 7th fastest Kiwi growing company in 2017. This awesome team reckons to make #01 in 2018.

1 FKAngel, 1 FKApplicant, 1 non-FKA. Guess who is who!

The Angel Association invites all FKAngels for Christmas drinks on the deck at Ernst and Youngâ€™s offices in Takutai Square.

Suse Reynolds
Executive Director

Itâ€™s been a busy and rewarding year for the early stage investment community as we celebrate a decade of â€˜doing dealsâ€™. Gratifyingly we are also beginning to see some of the ventures we have backed achieve success with a number of recent exits.

Location: EY Offices, 2 Takutai Square, Auckland
Date: 6 December 2017, 5.00pm â€“ 7.30pm
Cost: Free to members and friends of AANZ ðŸ‘

RSVP

FKAngel Tim Gelston is man of many talents, one of them being parties. So no wonder than that FKA's CCH picked on him to organise a White Water extravaganza after last year's muddy affair.
Tim will fix a date and other modalities to get back with more info next week. Thanks Tim, we all love you for it â£ï¸

More Info

LOL, if big ACA can write 'Devember' then little FKA can tolerate the odd typo.â€‹</>

READ âž¤ What makes a CEO 'exceptional'? McKinsey Quarterly, April 2017
Interesting but do stats near the midpoint really say that much? CHH

The long awaited secret FKA handshake has finally arrived. After lengthy rehearsals the board has decided on a unique pattern. FKAngels can reveal the full slow motion instructions with their normal password.

FKA Handshake

Another fun week for ADI. On Monday Uli and Rudi made a road trip to Hamilton to give a hand to Julian, Tracey and Sally with their first ADI.Clinic. Great to see EA and FKA working together to help startup founders in the Waikato.
Ring fencing is an often used term among the investor fraternity/sorority. However, Waikato founders can also talk about real physical fences.

After four sessions in Hamilton we had another four sessions on Thursday in Auckland. This mentor team consisted of Garth, Rudi, Tim and Uli.

For next week we have already bookings on Monday in Wellington, on Wednesday in Takapuna and on Thursday in Auckland.

We have a new poster design to advertise ADI.Clinic. We want to make sure that in 2018 everyone in the startup ecosystem knows about our ADI.Clinic venues and times so we can help founders early.

Rudi will launch a Post a Poster for ADI.Clinic competition next week. This will reward the top three People's Choices with a bottle of our rare 2014 FKA vintage.
Plan ahead and think where might be the best places to pin up our posters and who we need to talk to for that.

Newsletter ➢ ᴀFKAғ•2017#40

10/11/2017

10 November 2017 #40

Too much money for startups can be a bad thing. More dilution, less drive.

Mon 15:00	ADI.Clinic, Hamilton
Thu 16:00	ADI.Clinic, Auckland
Thu 16:00	Mahuki Showcase, WLG, ☞ RSVP
Thu 17:00	Startup Battlefield, Generator @ GridAKL, Wynyard
	Coming Soon
Dec	Xmas □

Palace say the DD process has been very useful. Whilst it is disappointing that FKA will not invest at this stage. They estimate the value of FKA's constructive feedback and suggestions at $100k.

Garry Bluett is very pleased with the fund raising results for HLL.

Total commitments are now in excess of $800k of $175k are coming from FKA Nominees.

Awesome result!

FileInvite DD is all GO!

James from fileinvite.com and our Garth, along with the DD team so far, have agreed a pre-money level that all are happy to proceed with. Great stuff!

We have a sterling team which makes for great learnings for anyone joining the team. Get in touch with Garth.Hinton@fka.nz and join this team to help and learn on the way.

A full product demo is already planned for next week, so things are moving which is good given that we're fast heading to Xmas!

You may remember Sam Blackmore pitching MyBitcoinSaver.com at our March Pitch Night #28. Opinions were very polarised on the night and during the DD Vote. There was sufficient support for an enthusiastic DD team to start looking closer at this. However, in the end the team decided that strategy and value proposition were not yet sufficiently developed to warrant a significant investment.

Latest news is that Sam has just raised $400k.

What do you see? One or two Flying Kiwis?

David Russell is one of the dirty dozen and was instrumental in kicking FKA into being together with Charlie James and Rudi Bublitz. That was after launching the Angelic Drop-ins with Rudi in mid 2013.

He is now our resident FKAngel in San Francisco.

NZTE, ATEED and the Generator are proud to be hosting the only New Zealand live screening of the finals of Tech Crunch Start-up Battlefield Australia and we would love to see you there.

From 5pm onwards the top companies will ‘pitch-off’ to the audience, with the winner being revealed on stage at 7.30pm. Come along and enjoy complimentary canapés and drinks and let the battle begin.

RSVP by email to Priscilla Nonato. Spaces are limited.

It was a busy week for our ADI Whips this week. Lot's of interesting conversations to follow up. Uli our Deal Flow Master will not get bored any time soon.
Our best wishes are going to Julian So who is launching ADI Hamilton next Monday. Uli and Rudi are driving up the help, so far we have four bookings.

Green Spot came to ADI.Clinic this week. The have developed smart IP that allows them to make flour which is high in proteins. The food industry is very interested but will need supply at scale. Here an NBR article from last year. This looks worth a closer look and we have more detailed info that is confidential. Pls contact Uli.

Newsletter ➢ ᴀFKAғ•2017#39

3/11/2017

Another FKA Friday

3 November 2017

AFKAF・2017#39

Mon 16:00	ADI.Clinic, Wanaka
Mon 17:30	The Future of Crowdfunding, AKL
Tue 16:00	ADI.Clinic, Whangarei
Wed 16:00	ADI.Clinic, Takapuna
Thu 16:00	ADI.Clinic, Auckland
	Coming Soon
16 Nov	Mahuki Showcase, WLG, ☞ RSVP

The DD Team for Palace still love the business but see challenges with the scalability of the current technical architecture. The team has given the founders constructive feedback in number of areas which was well received and they want to implement.
A big thank you to Campbell Scott, Garth Hinton, Jai Somaratne, Leonie Freeman, Phil Southward, Ralf Muller and Tim Gelston.

Congratulations to James Sampson from fileinvite.com who has passed our DD Vote. We have already four FKAngels who put up their hands for DD: Garth Hinton and Phil Southward as co-leads and additionally also David Kelly and Heath Milligan.
Get it touch with Garth.Hinton@fka.nz to join this team to help and learn.

However, before they can kick off with DD Garth and James want to agree on a pre-money valuation that works for both sides.

With further firm commitments this week from NZVIF and K1W1 the round is closing fast.

Email Garry.Bluett@fka.nz if you're interested..

Mon 6 Nov 2017, 5:30pm–7:30pm
AUT Auckland - Sir Paul Reeves Building, 2 Governor Fitzroy Place, CBD, Auckland

Buy Ticket

Thanks to Tim x2 @ FKA and Tim x1 @ BizDojo for holding the ADI fort this week.
The coming week sees 4 sites coinciding which will give 4x6 20 min slots, that is help for up to 24 startups. Timmy @ BizDojo reception in Wynyard Quarter is already fully booked out.

Deal Flow Master aka DFM Uli is already producing first results by the example he is setting. On Monday after fully recovery from the AANZ Summit David Wang from Zino Innovation Hub will catch up with master beer brewer Rebecca from The Herbalist.

The two LinkedIn posts below make it quite clear angels and founders in NZ prefer wine over beer. Presently 27 likes and over 4,700 views for the wine post, only 8 likes and just over 2,300 views on the beer post.
Click on the image to see the posts.

The FKA delegation was made up of David Russell, Gavin Lennox, Julian So, Mike Hanna & Rudi Bublitz.
Thanks to all the above for making such a good impression and attracting several new angel applications.

Marcel van den Assum has served four years as chair of the Angel Association. He has done an awesome job and among other things he will continue to work with lead investors in the later deal stages.
John O'Hara is the right guy to take on the challenge of filling those boots and putting his own mark on them.
This duo will make AANZ even stronger.

See below the Annual Report 2017 from the Angel Association. CCH Rudi Bublitz attended the AGM and subsequent council meeting for FKA. He proposed a review of current commission mechanics in order to remove syndication friction between domestic startup investors and foreign investors. A lively debate ensued and the topic will continue in the new year.