ice angels for entrepreneurs
TRANSCRIPT
An Introduction
An Introduction
The ICE Angels is a network of successful entrepreneurs, corporateexecutives, and professional investors, that invests in and supportsexceptional teams exploiting global opportunities.
Our mission is to connect willing and active investors with high-potentialNew Zealand start-ups in order to facilitate their funding and success.
The ICE Angels have invested in more than 75 start-ups including algaecultivation, smart inhalers, super computing, mobile apps, robotics, virtualworlds, and even rum.
Key Stats
4Positive Exits
$48mInvested to date
77Investments
$20kMed. $/member/Rd.
$400kAvg. $/ company/ round
2004Yr. established
300Enquiries / year
10Meetings/year
130Investors
What does the ICE Angels do?
We do much more than simply write cheques and network.
1. We collaborate to support great start-ups.
2. We actively train to become great investors.
3. We bring together the start-up community.
4. We cultivate international relationships.
The ICE Angels network is designed to enable passionate investors tocollaboratively identify, review, invest in, and support high potentialstart-ups.
The network comes together one evening per month for presentationsby up to 5 start-ups that have been selected by the member-led DealFlow Committee.
Investors with common interest in start-ups collaborate on due diligence,negotiations, and investment (typically $20k/ investor, $450k/company.)Individuals ultimately make their own investment decisions.
We collaborate to support great start-ups
The ICE Angels network hosts dozens of workshops, round tables, andseminars each year.
Workshops focus on due diligence, board stewardship, start-upvaluation, exit strategies and much more. Round table gatheringsregularly occur to perform post-investment & exit debriefs and shareother relevant insights.
We actively train to be leading investors
The ICE Angels has meaningful links with investors in the US, Europe, and Asia. We actively syndicate with networks in the Valley, NY, Singapore,
Mumbai, and elsewhere.
In addition, we bring international angels to NZ to train local investors and support start-ups. Recent guests include:
We cultivate international networks
Ian SobieskiBand of Angels
Dave BerkusTech Coast Angels
Dan RosenAlliance of Angels
The ICE Angels hosts dozens investment and networking events eachyear featuring hundreds of start-ups and thousands of investors.
The ICE Angels annual New Zealand Angel Investment Showcase, hostedin October of each year, features presentations by 15 start-ups to morethan 250 investors.
We bring together the start-up community
Who are the ICE Angels members?
The ICE Angels is a network of likeminded individuals that are motivated to mentor entrepreneurs, give back to the business community, and
enjoy investment returns.
The ICE Angels is managed by a small team and supported by a member-led Advisory Board and Deal Flow Committee.
75%45-64 years old
98%members have invested
87%Rank the team as #1 in DD
10%invest with their other half
41%current/former entrepreneurs
18%C-level executives
What ’s the Process for Investment?
2. Apply to the Deal Flow Committee
3. Present at an Investment Evening
4. Undergo Due Diligence & Negotiations
315
99
39
27
19 5. Investment
2014 Stats
1. Enquire by phone / email
The PitchYour pitch deck (12-15 Slide PowerPoint presentation) is a key component ofthe fundraising process – It serves as your application and your presentationat the deal flow meeting and investment evening. There is no formaltemplate but it must adhere to a 10-minute time limit.
Key Points• “What you do” – As simple and straightforward as possible• Highlight any validation you have; sales, awards, other investors• The goal of this presentation is to get angels to the follow on meeting – not go into every detail of the
business• Make the offer clear; how much money do you need and for how much equity• Must be on PowerPoint; widescreen ratio (16:9)• Load full slides at once – Loading a line at a time is painful and no animations/slide features• 30pt Font, 20pt for financials – Keep words to a minimum, use images and speak to them• No web based links; Videos should be 2 minutes max, embedded in slide & saved on computer
The PitchSample Format
Time – Topic Slide Content / Comments
0:10 – One Liner What you do in a single, simple sentence.
0:30 – The Pain “Users have this problem” or “This is how things are done currently”
1:20 – The Solution This is how we solve the pain for these customers.
2:20 – The Opportunity Discuss the size of the addressable market and early customers.
3:20 – Business Model How do you make revenue from this? – Focus on scalability.
4:20 – Competition Who are they/Why you’re better? – Consider a matrix of features.
5:20 – Team Why are you poised to make it work? – Discuss key members only.
6:20 – Financials Simple P&L with 3 year forecast. Discuss prior & future funding.
7:00 – The Deal $Sought/Pre-Money Val. Current commitments. Use of funds/runway.
7:40 – Close Contact information on slide. Comment on next steps.
Ross Peat Janine Manning Miles Valentine
Kerry McIntosh
Deal F low Committee
The member-led Deal Flow Committee is responsible identifying, screening, and coaching great start-ups.
Mark Kippenberger
Robbie [email protected]
The Team
Jack McQuireNetwork [email protected] 308 6222
The ICE Angels team is responsible for engaging with start-ups, supportinginvestors, managing investments and the portfolio, and running events &workshops.
ICE Angels’ Investees
The Portfol io77 Companies | 126 Rounds | $48 Million
Since 2004 the ICE Angels have invested in 77 different companies across a range ofsectors, including software, biotech, gaming, medical devices, consumer products andB2B products and services.
Our portfolio is continually broadening and developing as the ICE Angels invest in, learnfrom and support start-ups with guidance and governance. We have had 4 positive exitsfrom the portfolio, along with 2 neutral exits, while 9 of our start-ups have failed.
The club leverages its size and members to see the best of New Zealand’s start-up dealflow and combines this with a rigorous screening process and robust support forentrepreneurs and investors to enable success.
New Zealand Angel Investment Showcase
Established by the ICE Angels in 2011, the Showcase is an annual eventfeaturing presentations by up to 15 leading start-ups to the largest gatheringof angel investors and venture capitalists in New Zealand.
The 2014 Showcase enabled over 100 investors to collectively invest morethan $5m into 11 companies, positioning it as one of the most effective eventsof its kind outside of Silicon Valley.
The ICE Angels Showcase FundsThe ICE Angels Showcase Funds enable passive investment into a portfolio of the New
Zealand Angel Investment Showcase's most well-supported companies.
The 2013 ICE Angels Showcase Fund 1 invested $500k in 8 companies:
The 2014 ICE Angels Showcase Fund 2 invested $1.12m in 10 companies:
The Showcase Funds seed investors’ positions in great startups, enabling first rights to participate in future rounds and to receive all ordinary investor communications.
Thanks
Robbie Paul – ICE Angels [email protected]
Jack McQuire - ICE Angels Network [email protected]