Oct. 25 (BusinessDesk) - Kiwi angel investors put most of their money into follow-on investment rather than backing new start-ups in the first six months of the year, according to the latest Young Company Finance Index.
Total angel investment during the half was $22.9 million, up $3.3 million on the same period in 2015, but still down on the record $29.7 million recorded in 2010. In addition, angel-backed companies attracted a further $8.5 million from overseas investors, particularly Australian angels.
Some 78 percent of the money ($17.9 million) went to support existing investments rather than funding new companies which got just 22 percent ($5 million), a trend likely to continue given angel investors' have now built substantial portfolios in the past decade.
