Celebrating 15 years of angel investing: Craigs enduring support leads to thriving startup ecosystem

Enterprise Angels, based in Tauranga, New Zealand, recently marked its 15th year as one of the country’s largest and most dynamic angel investment networks. Craigs Investment Partners, led by Neil Craig, has played a pivotal role in the establishment and ongoing success of Enterprise Angels.

Enterprise Angels offers a unique model of early-stage investing, boasting a professional management team, 200 angel investors, 150 wholesale investors, and partnerships with 20+ organizations. To date, they’ve facilitated investments exceeding $65 million in over 107 New Zealand startups, generating over 1,600 jobs across various industries.

Founding Enterprise Angels

Bill Murphy established Enterprise Angels in 2008, originally named the Western Bay of Plenty Investors’ Forum. His motivation was to create a platform where startup founders could secure not only funds but also benefit from the expertise and guidance of successful business angels, often referred to as “smart money.” This network quickly grew in importance as angel investors connected founders with potential clients, investors, staff, and provided essential support.

Craigs Investment Partners Support

Enterprise Angels grew slowly until 2011 when Neil Craig joined, first as an investor and later as Chair from 2012 to September 2020. During this time, Enterprise Angels became New Zealand’s largest and most active investment group. In 2014, Enterprise Angels expanded into the Waikato, heavily supported by Jon Tanner from the Craigs Hamilton office. In 2019, Bill Murphy transitioned to lead the Purpose Capital Impact Fund, and Nina Le Lievre became the country’s first female angel network Chief Executive. Nina, a previous Craigs employee, had been working alongside Bill as General Manager at Enterprise Angels for 6 years prior, following an introduction from Neil for the role.

High-Growth Portfolio

Enterprise Angels’ current portfolio showcases impressive high-growth companies, many of which have attracted significant investments from later-stage investors. Notable names include Fuel50,  Spoke, Parrot Analytics, Lawvu, UBCO, FileInvite and Datagate Innovation. The portfolio comprises of predominantly software companies, primarily located in Auckland, Tauranga, and Wellington.

Since its formation, 15 Enterprise Angels portfolio companies have achieved successful liquidity events including: GreenButton, SwipedOn, Volpara, Engender, Merlot Aero and Moxion, with Internal Rates of Return (IRRs) ranging from 24% to 194%. Nonetheless, the high-risk nature of startups has led to 17 portfolio companies failing for various reasons.

Navigating Uncertain Times

Despite economic uncertainty, Enterprise Angels members remain active investors, recognizing that recessions can create opportunities. As Nina Le Lievre states, the network’s focus is on the fundamentals and value propositions. It’s not just capital that’s essential, but also connections and expertise to navigate turbulent environments.

Future Opportunities

Enterprise Angels continues to thrive and evolve, offering exciting opportunities for investors in the fast moving startup world. Its success results from the collaboration of its Angel network’s experience and expertise with the strength of its funds. The recently launched EA Fund 4, has completed a first close of $2m and is aiming to raise $5 million+. It provides a unique opportunity for investors to efficiently build a diversified portfolio of early-stage investments leveraging a proven fund manager.

For more information, visit Enterprise Angels’ website.

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