The latest Young Company Finance, the half-yearly publication describing the details of which deals have been done in the <$5m space, has just been released.
It has been an excellent start to the year for seed, startup and early expansion investment, with both numbers of investments (33) and amount invested ($30M) for the first six months of 2009 higher than for all of 2008.
Most of the activity was in Q2; in other words, we’re on a steep upwards trend:
NZTE Escalator were particularly active with seven investments, along with ICE Angels (5), Cure Kids Ventures (3), MOVAC (2), Pacific Channel (2), Powerhouse Ventures (2) and others taking lead roles. It was especially interesting that 85% of the deals involved syndication partners, significantly higher than previous reporting periods.
Even more telling is that the number of deals where SCIF was the only co-investor has dropped from 12 in 2007 to 8 in 2008 to only 2 in the first half of 2009.
That’s excellent news for the industry. Investment groups are taking risks together, and not relying on gummint. NZTE Escalator is taking tiny bets on embryonic plays where even angels fear to tread.
We’re coming of age.
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