That’s pretty impressive over seven years, but even more so is that those portfolio companies have gone on to raise in excess of $28 million in angel investment across numerous rounds.
Do you need investment for your company?
If you need money to get to the next step, MIG wants to hear from you. The companies that MIG invests in are young and high-growth; they are disruptive, different and new. Angel investments are usually up to $1m.
How it works:
If you apply to the MIG Angels, you’ll likely work with BCC staff first. They’ll help you get ready to pitch to MIG. When the time comes, you’ll be invited to apply to the investment committee for funding or attend a MIG open night.
Five MIG members are on the MIG investment committee. They meet monthly to consider investment opportunities and make decisions for the group. The investment opportunities are then circulated to all the MIG members for co-investment.
MIG hosts open nights when entrepreneurs in need of funding can meet the Angels and talk about their business proposition. These events are by invitation.
Do you want to be part of something new?
MIG is always on the lookout for more investors. Being a MIG Angel is a unique opportunity for investors to see companies doing really exciting things at an early stage.
Angels invest in early stage companies. Sure, they invest money. But angels are also active as mentors and coaches for the business’s management team. Investing in a start-up is also an opportunity to give back. Sound like you? Contact MIG.
Being an angel gives you the chance to get away from business-as-usual and see new technology before anyone else. MIG’s investments are typically in fields unlike those the investors have previously worked in. Being an angel provides really interesting opportunities.
Many of the MIG angel investors like the idea that they are helping to create a region that has cool companies. Sure, everyone hopes that at some point they invest in the next Trade Me, but along the way, investors are increasing the local and national economies.
Members are typically less driven by the money aspect and are more driven by the opportunity to share their knowledge and be involved in interesting start-ups.
The goal of angel investing is a successful exit or the business getting additional funding, often from a venture capital firm.
MIG members need to satisfy wealth requirements, but the starting investment levels aren’t as high as many think. Some MIG angels invest as little as $5K–$15K. If there’s an opportunity that needs $25K and five people want in, that’s only $5K each.
MIG Fund 1 is a million-dollar fund made of 20 MIG Fund units of $50K each. Some investors have one MIG Fund unit; some have more. MIG is a limited liability company wholly owned by BCC. Investments are made anonymously through MIG Nominee #1.
For more information, please contact Dean Tilyard.
Launched in 2007 and known as MIG (Manawatu Investment Group), MIG Angels is a network of eligible individuals (as per the requirements of the Securities Act of 1978) that invests time and capital in early stage, high-growth companies.
Companies range in sector from clever engineering solutions to IT/web companies to biotechnology. Location-wise, MIG has invested in companies based in Palmerston North, Wellington, and Auckland; many in its portfolio have offices and/or a presence in the US.