the Startup Investment report<\/a>, published today by PwC New Zealand, Angel Association New Zealand and NZ Growth Capital Partners (NZGCP).<\/p>\nEarly stage investors provided $71.6m of funding for New Zealand startups, down just 4% year on year, with new deals making up 25%.<\/p>\n
The level of investment is in contrast to global trends, where funding was well off the 2021 highs, and also down from last year\u2019s investment levels.<\/p>\n
Tereza Bebich, Partner at PwC New Zealand, notes that although funding remains strong, a notable shift in investor behaviour has emerged, with 75% of deals supporting ventures already in investors\u2019 portfolios, whereas typically the split between new and follow on deals is 33% new to 66% follow on.<\/p>\n
\u201cThe shift in funding from new deals to follow on does speak to a change in behaviour, with investors supporting companies they have already backed. This could adversely impact the pipeline of new start-ups if the trend continues in the longer-term,\u201d she says.<\/p>\n
Jacques Richer, Associate Investment Director at NZGCP, adds that while the level of investment is good, the data should be considered with cautious confidence.<\/p>\n
\u201cAlthough the current data is positive and demonstrates investor confidence in H1 of 2023, generally about two-thirds of deal activity happens in the second half of the year, so we\u2019ll be looking at the full year results to confirm this trend.\u201d<\/p>\n
Deep Tech ventures accounted for 49% of deals in the first half of 2023, with SaaS coming in at just 16%. This inclination toward high-impact, long-term value reflects a broader trend that emerged in 2022.<\/p>\n
\u201cNew Zealand investors tend to err more towards value-based investing than momentum-based investing,\u201d says Suse Reynolds, Chair of the Angel Association NZ. \u201cWhile revenue growth is important particularly when it\u2019s harder to raise capital, it\u2019s not the only indicator of value, and New Zealand investors are thinking longer-term.\u201d<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"
The latest Young Company Finance deal data shows impressive resilience in the New Zealand startup landscape, with 67 deals funded in the first half of 2023, compared to 66 in the same period last year. The deal data, insights and commentary are included in the Startup Investment report, published today by PwC New Zealand, Angel […]<\/p>\n","protected":false},"author":1,"featured_media":35768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12034],"tags":[18638,5714,11223,14901,11604,16647],"dealstore":[],"offerexpiration":[],"class_list":["post-35767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-angel-investor","tag-buck","tag-global","tag-investors","tag-startups","tag-trends","tag-zealand"],"yoast_head":"\n
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