Category: Veto Gate

Newsletter ➢ ᴀFKAғ•2021#13

16/4/2021


	16 April 2021 #13	789 ʀᴇᴀᴅᴇʀs

Congrats to co-founders Anne and Jo who have just raised US$15.5m in their series B round. Fuel50 is FKA's #4 portfolio company. FFF stands for Friends, Family and Fools but also FKA Fueling Founders.

20 April, 18:30 Another FKA Tuesday - Pitch Night. We have four great pitches! Join us at KPMG, 18 Viaduct Harbour Ave, Auckland.

Jeff is knocking at the Angel's Gate this week. Cambell, Cornelius and Maheen have chatted to Jeff about joining FKA. All agree he would be a good fit. Great! However, if anyone knows of any reasons why Jeff should not grow wings with FKA, please tell the board in confidence.

Geri Halliwell may sing It's Raining Men but not so in NZ. It's raining $$$ in the Kiwi startup ecosystem. Nearly $200m from angels according to AANZ's Startup Investment magazine - just out. It also includes a piece on Kami. A $14m Elevate lift for Finistere. New kid on the block,CaraMed Capital is raising $50m for the health sector. Also, Dealflow Andy has just increased his son's pocket money.

Yesterday the NZ Hi-Tech judges picked the category winners from the pool of finalists, four of them FKA Portfolio companies. However, the suspense will not subside until the Big Gala on 28 May. 1,200 peeps, already hopelessly overbooked and a hockey stick waitlist.

Wendy is moving on from the Auckland University’s Centre of Innovation and Entrepreneurship (CIE) which runs the Velocity programme and the Unleashed space. Wendy, you have moved the needle, thank you!

It was nearly eight years ago when we launched our ADI.Clinic.

HERE SOME OF THE REACTIONS!

Liz in the chnnl t-shirt gets top marks for being first out of the box with the March investor update. Didn't get your copy? Ping investor rep Cornelius.

HERE also her recent interview with Dylan Lawrence from NZTE.

Lane Litz from Chatterize came out shortly after

Too early to call but this could be a pattern... female founders! Or is it about names that contain a 'z', asks Mr Bublitz.

Then Brady from Vesper Marine delivers his update before Friday and destroys all pattern recognition

Great to see the first three investor reports from FKA's portfolio companies come in before the middle of the month. Too early for a shame list

Rudi took an ADI-type call this week. The founder had done DD with an impact investor only to have a rude awakening when it came to final terms. "Like having your beautiful bride switched for the mother in law at the altar".

Certainly, not how the Flying Kiwis roll. Terms upfront, then DD to decide whether or not to invest, not to chip away at terms!

HLL is cleaning up with wood waste. More on that HERE.

InvestHER showcased six great startups on Tuesday. We had six Flying Kiwis in the room and nabbed one presenter for our pitch night next week.

The event will also be remembered in years to come for one pitch line. An alternative to wet wipes defined the total addressable market in a very succinct and graphical way.

We also caught up with the space cadets from Astrix Astronautics. A young team that is working on inflation tech to deploy solar power systems for satellites with an increased reliability co-efficient.

Then over drinks, we helped them simplify their tagline to "Putting Lilos into Space". If angels dig cloud tech then why not level up to space tech?

This foundation workshop will provide startups with a broad overview is for early-stage companies that are about to start - or considering - capital raising. See More!

Erik is a co-investor with FKA since the first hour. He is also a successful and agile founder who has pivoted the Lucira Health technology to bring the first COVID-19 home test to market.

Newsletter ➢ ᴀFKAғ•2019#20

14/6/2019


	14 June 2019 #20

Our June pitch night is upon us.
KPMG, 18 Viaduct Harbour Ave, AKL
Tue, 18 June 2019, 18:30

The FKA Veto Gate builds on a tradition that goes back to Roman times, except that we don't have a Veto Caller. Anyways, Thinker Andy Harwood has talked with Debra, Eric and Rudi after he attended numerous ADI sessions with them. They reckon he is a great fit and "a breath of fresh air". See his LinkedIn profile to understand the reference.

However, if any Angels wish to blow the Veto Horn, they should notify the Board in confidence of any concerns.

Nawaz Ahmed has been toiling for our CCH as FKA intern. Our youngest kid on the block yet and very clued up about blockchain. He has now talked with Hattaf, Rudi and Uli about becoming a fully fledged Flying Kiwi and all feel there is a great mutual fit.

However, if any Angels know of reasons to block him, then they should notify the Board in confidence of any concerns.

iDefigo №08 has been named this week as one of the major Security as a Service (SaaS) Market Players by Zion Market Research.

Uli got a job recently, now he also has a jet ski! Tim G and Uli are calling on all other risk-takers with a similar affliction among the Flying Kiwis to come out and join them on the water. Not 50 Angels flying on Lime Scooters but flying on jet skis.

It was with initial shock when one unsuspecting Angel opened an email to hear of a stolen shareholder update. Turns out this was simply an update from Stolen Spirits.

Roelof Botha's investment memo for YouTube came into the public domain as an exhibit in a Court case about copyright violations. It illustrates how Sequoia makes investment decisions.

Newsletter ➢ ᴀFKAғ•2019#18

31/5/2019


	31 May 2019 #18

All of you, here comes the video to show what you've missed out on if you didn't join the flight of 50 on Monday 20 May 2019.

We're running ADI.Clinic at eight sites across the country with the help of other angels groups that are stepping up in the regions. Whangarei is one of those sites and Akudos comes from there after the team has been coached by Lawrence over several months.

This is their pitch video, FKA's 34 Voting Angels are currently deliberating whether to proceed to DD. Nearly half the votes are in so far and there is clearly interest in Akudos.

Nothing smelly has come up on these two, they have cleared the VETO GATE without incident. So, let's welcome Joe.Harper@fka.nz and Hattaf.Ansari@fka.nz as new members to FKA, taking our count to 58.

"It will be administered by the Super fund, with NZVIF making the investments through private sector fund managers."

"The Venture Capital Association had expressed concerns that if NZVIF went it alone with investments, bypassing private fund managers, that would run counter to its original remit of helping grow a strong private sector venture capital industry in New Zealand and could "crowd out" private investment." ☞ full article

Also, ☞ this article. "[...] Icehouse chief executive Andy Hamilton also said the challenge would be getting the private sector on board to match the investment." Meaning increase the $3m($100m) fund presumably?

FileInvite №14 is raising to accelerate growth. Watch out for the co-investment call that is coming your way later today. Cornelius and Phil are sharing their findings in a DD Brief for this round. Both of them and Garth, who is Chair and investor rep, are doubling down.

Ping Garth.Hinton@fka.nz for more info.

The Vesper Marine Sẙ02 round is coming to a close. If you want to invest in smart Kiwi tech that prevents oil spills and other maritime disasters, then ping Rudi.Bublitz@fka.nz for more info.

Rudi and Gavin were the two FKAngels at table 54 of the HI-Tech Awards, the last and crowning event of Techweek. Even Jacinda attended. Each year they also add one to the Flying Kiwi Hall of Fame.

The above shot shows impeccable timing from Lance Wiggs. Still, he is clearly better at investing than photography.

David Wang, on the other hand, shows more talent with photo composition and lighting. His LinkedIn post includes the propaganda suit "No Future for Fees on Founders".

With Techweek and Budget over, it's time for some Friday Fun Facts!

Newsletter ➢ ᴀFKAғ•2018#40

16/11/2018


	16 November 2018 #40

Next Tuesday, 20 November will be the last pitch night with investment pitches in 2018. Sad but true. Debra is bringing a startup with a proposition that is going to the bone, literally. Come and see for yourself!

18:30 @ KPMG, 18 Viaduct Harbour Ave, Auckland.

If his startup is called Horn, does that make Lawrence horny or is he just crazy, chasing a fully horned unicorn after a near miss? Ask Jackie, Martin or Rudi who have all spoken to him and everyone feels there is a good mutual fit. Lawrence has already been helping Martin with ADI Whangarei over recent months.

With Tim Warren, we have at least one other Angel who had red hair at some point and a photo to prove it. But seriously, if you know of any material reasons why Lawrence should not join our group, now is the time to speak up! Raise your concerns in confidence with the FKA Directors.

The eight-company pitch in Whangarei on Monday was a great kickstart of the Northland startup ecosystem. Some potential Angel fodder there, all helped by Northland Inc, NZTE and AANZ.

Suse from AANZ was supported by a strong FKA contingent with Jackie, wannabe Lawrence, Martin and Rudi. So strong was our contingent that somehow, the MC Ken Erskine ended up registered as a Flying Kiwi Angel with a big lanyard sign to prove it. But he carried that 'badge of honour' with his typical GSOH throughout the day.

CCH says, "Ken would make a fine first Scotsman in our ranks."

Techion, our Portfolio Company #7, has made TV news with the role that the Techion tech plays in the Starworms Project of the Bill & Melinda Gates Foundation and the World Health Organisation (WHO).

ADI Auckland and ADI Queenstown were running neck on neck this week, each with four bookings. Julian had one for ADI Hamilton. And here some email feedback that Cornelius received, not for his good looks, "Thanks for the great questions, we’ve not yet met people with your sort of background in the investment space...".

End of Year Celebration for 2018

You are invited to join friends and colleagues for end-of-year drinks and canapés at 5:00pm on Wednesday 5 December at the offices or sun deck of EY on Takutai Square in Auckland.

It’s been "pedal to the metal" all year in angel investment so please join us to celebrate the excitement and traction founders and investors are generating in New Zealand.

Kindly RSVP to Karren Hmm, red wine, one way to drown starworms!

Robyn Grace is a Kiwi filmmaker and knows Moxion from productions such as Ash vs Evil Dead and The Shannara Chronicles. She is raising money on Boosted to shoot a new short and wants to use Moxion.

Her partner Rory MacGillycuddy has co-hosted Ask Angels Anything with Rudi and devised the cheeky fundraiser slogan.

Says Rudi, "Fund Moxion, then Robyn and tell others! I'll send out the full co-investment call for Moxion early next week.".

The number of new startups in AUS is going down. More quality over quantity? The reason why Aussie VCs keep following the NZTE invites to see Kiwi startups? Read more about in the Startup Muster Report.

Newsletter ➢ ᴀFKAғ•2018#32

14/9/2018


	14 September 2018 #32

Ice Angels just had their GREAT SHOWCASE and so Flying Kiwi Angels will have their GREATEST SHOWMAN. Yes, our September pitch night is next Tuesday, as usual generously hosted by FKA's premium sponsors KPMG. Incidentally, they are one ahead of FKA with respect to GEO AR Games who are currently undergoing DD whilst Craig Jakich from KPMG Ashburton is already doing the GAG accounts.

Tue, 18 Sep @ 1830, 18 Viaduct Harbour Ave, Auckland

Everyone is amped to hear Ambit pitch so the pressure is on!

Josh and Tim are part of the co-founder team behind chatbot Ambit. Consequently, it takes a conflict-free FKAngel like Heath to be the champion and bring this to pitch night. The crowd wonders what headgear will they wear and who will pitch, given that both Josh and Tim like the sound of their voice. Don't miss this one!

Little known fact, at the IA Showcase the editor caught up with JB from Squirrel who put the Squirrel bot persona on Tinder for a laugh. Haha!

This week Genevieve Tearle is knocking on heaven's door to add FKA wings to her ADI halo. Since April she has been a regular mentor at the ADI Auckland. No wonder that Cornelius, Debra, Rudi and Uli all give a fat tick to see her with wings. Very cool, but as always, SPEAK UP NOW if you know of any reasons why Genevieve should not join FKA! Please, raise your concerns in confidence with the Board. ☞ HERE

www.Moxion.io is our portfolio company #10 and is disrupting film production in Hollywood and beyond. Great editorial coverage in The Hollywood Reporter on pages 12 and 18 for Moxion. This custom edition is distributed at the Toronto International Film Festival
#FKAngels #KIWIstartups #MakeFKAproud #GoMoxion

Phil is our true Flying Kiwi often helping with DD whilst travelling for his passion. He recently made 2nd place in the Dutch competition and 5th in the British competition. He competes in the shrinking 'rigid wing' class that is being overtaken in popularity by the 'flexi' class. The facetious might liken his success to 95-year-old Olga who is winning medals and setting world records in her class. ☞ BBC footage

Thanks, Tim (Gelston, not Warren), for reminding us of this harsh reality. We all know that most startups fail but looking at the data of 1,100+ startups from seed investment onward puts it all into an even harsher perspective. Only 48% raised a second round of funding, and a mere 15% went on to raise a fourth. And the chances of reaching unicorn status?

☞ Not great, about 1%.

Ice Angels' Showcase was indeed a numbers game. Table seating for 900, 989 RSVPs, our CCH got seated at table #90, the last one. However, better tables for Trotter who was seen trotting around and Flacks who was also in the room, as was Hall and So.

Big numbers also with the pitches, multimillion rounds at eye-watering valuations. AskNicely, one that got away although we had early engagement. They are now raising US$7-10m on a valuation to be set by the lead investor but expected to be about US$50M. Definitely some great companies in the mix and good on Robbie and team for getting those to the night.

Some early ones too that would unlikely have found a champion among FKAngels, let alone pass the DD Vote. IA's focus and strength are clearly with later stage deals that have rounds which demand the big cheques that such a staged event can generate. The distance between the founders and the investor audience was a perfect proxy for the difference between the IA and FKA style of angel investing.

Torn between Shanghai Nights and Blenheim Vineyards Rudi finally gave in to the former and he will be joining the Zino investor trip to China. As a consequence, he has an Early Bird Ticket to the AANZ Summit in Blenheim to sell away, first come first serve. ☞ more on the summit

All mistakes, grammar, spelling or otherwise in this publication have been made by Rudi and then overlooked by Debbie, Jackie, Karl, Katheren and Masha. Same goes for the images. However, Rudi has been known to insert some after the early morning review.

Newsletter ➢ ᴀFKAғ•2018#27

10/8/2018


	10 August 2018#27

CEO Mel is chuffed to have made it into the Top Three of Zino's New Kiwis Challenge. Now her sights are set on winning the top prize.

Uli likes how Geo AR Games is going after Chinese shopping malls and wants to bring Mel & Co FKA's August Pitch Night, Tue 21 August.

Rudi has been mentoring them since 2016 and the picture shows once again how FKAngels help Kiwi founders get liftoff.

Yabble and FKA have decided to stop DD so that Yabble can get some more runs on the board and prove out more of the international business model. The revenue from their consulting business puts Yabble in a good position to do that. We have a precedent for this with Wherewolf who are now portfolio company #12. Yabble could certainly repeat that - they have a similarly unusual name already. Cornelius will stay in touch with Kathryn and Rachel.

Dotterel pitched back in June and the DD process of the lead investor is only now completed. They are now waiting for final commitments from existing shareholders. Once we know if there is any capacity for FKA Rudi and Hattaf will report back.

Ralf Wittgen has talked with Jackie, Paul and Rudi. All three reckon he would make a fine FKAssociate. Ralf understands what is expected of him and he is happy to strengthen the German contingent.

He is promising to give Rudi a run for his money, little that he has, with his fast and furious, often video enhanced, LinkedIn posts, like this one following Wednesday's Ask Angels Anything event.

If anyone knows of any skeletons in the cupboard or any other reasons why he should not join our group, now is the time to speak up. Please advise the board in confidence of any material concerns to consider.

Nick Walsh has been a sterling support to the FKA board and wider group as our resident FKApprentice. His persistence in chasing signatures and investor certs is what most you have seen but that was only the tip of a big iceberg. Nick moved to Oz for a master in quantitative finance earlier this year and has still supported us from afar.

Now it is time to say goodbye and knuckle down for studies. Thank you so much, Nick! We want to see you back with FKA as founder or angel. Keep going the way you are!!!

He says, he'll miss ADI.Clinic and the Pitch Nights most! Oh, and Charlie.

Ray Thomson has been a force to be reckoned with in the NZ angel community. His style was divisive, he didn't mince his words, but by god did he get stuff done. He pushed CCH Rudi to grow his wings and cat herding skills faster then he'd ever expected. No doubt, Ray's recent passing leaves a hole that will take time to fill.

See the many reactions that have accumulated on Rudi's post here.

✞ Funeral service Tue, 14 Aug, 11:30, Holy Trinity Cathedral, Parnell.

Next Wednesday, 15 August at noon. ☞ FREE Registration

Andrew and Julie will share their experience helping tech companies develop and negotiate term sheets for deals from small friends and family rounds through to large VC and private equity deals. They will also go through the creation of a term sheet using the equity investment term sheet doc maker, a powerful tool for founders or investors alike.

Unexpected news from a law firm: The doc maker is FREE to use!

A must for all current and aspiring FKA investor reps!!!

A night of coprolalia hosted by Mr Paul Ego of "7 Days" and featuring two of NZ's funniest ladies Mel Bracewell and Justine Smith. Tickets here. Light snacks provided, consider bringing a food platter to share. Cash bar. Doors open 7.00pm. Pre-load at Rudi's next door to TGS (not Dr Rudis).

Email Rudi

All mistakes, grammar, spelling or otherwise, in this publication have been made by Rudi and then overlooked by Debbie, Jackie, Karl, Katheren and Masha. Same goes for all images, however, Rudi has been known to insert some after the early morning review.

As it is the case with this little insert.

Haha, Debbie should have been Debra of course! [RB]

<<Previous

Newsletter ➢ ᴀFKAғ•2021#13

16 April 2021 #13

HERE SOME OF THE REACTIONS!

Newsletter ➢ ᴀFKAғ•2019#20

14 June 2019 #20

Our June pitch night is upon us.
KPMG, 18 Viaduct Harbour Ave, AKL
Tue, 18 June 2019, 18:30

Newsletter ➢ ᴀFKAғ•2019#18

31 May 2019 #18

Newsletter ➢ ᴀFKAғ•2018#40

16 November 2018 #40

End of Year Celebration for 2018

Newsletter ➢ ᴀFKAғ•2018#32

14 September 2018 #32

Newsletter ➢ ᴀFKAғ•2018#27

10 August 2018#27

Categories

Archives

Newsletter ➢ ᴀFKAғ•2021#13

16 April 2021 #13

HERE SOME OF THE REACTIONS!

Newsletter ➢ ᴀFKAғ•2019#20

14 June 2019 #20

Our June pitch night is upon us. KPMG, 18 Viaduct Harbour Ave, AKL Tue, 18 June 2019, 18:30

Newsletter ➢ ᴀFKAғ•2019#18

31 May 2019 #18

Newsletter ➢ ᴀFKAғ•2018#40

16 November 2018 #40

End of Year Celebration for 2018

Newsletter ➢ ᴀFKAғ•2018#32

14 September 2018 #32

Newsletter ➢ ᴀFKAғ•2018#27

10 August 2018#27

Categories

Archives

Our June pitch night is upon us.
KPMG, 18 Viaduct Harbour Ave, AKL
Tue, 18 June 2019, 18:30