Angel Associations applaud Greenbutton sale – “a win for everyone”

News from Angel Association
The successful sale of the Wellington cloud-computing company GreenButton to Microsoft illustrates just why angels find investing in high growth startup companies so rewarding.

As a founding investor in GreenButton, Angel Association Chairman Marcel van den Assum said this was a win for everyone involved in the venture’s journey from a one-man startup to a globally competitive, international company.

“This transaction is an excellent outcome for New Zealand. It’s something we can all be proud of. Another team of smart Kiwis have shown they can create a terrific piece of software which will be used by potentially millions of people,” he said.

Mr van den Assum pointed out almost all the capital required to create the company came from New Zealand’s angel and venture investment community, reflecting the degree to which this community syndicates deals and supports each other.

“Over 20 individual angels from three networks contributed – Angel HQ in Wellington, Enterprise Angels in Tauranga and Ice Angels in Auckland – as did early stage venture funds Movac, Sparkbox and Evander. Almost all the investors have indicated they will reinvest the returns straight back into their startup communities” he said.

Mr van den Assum acknowledged the support the company has had from the Government, including the NZ Venture Investment Fund, Callaghan Innovation and New Zealand Trade and Enterprise.

“These entities were all instrumental in the company’s success and I am delighted this transaction represents a significantly positive return on the Government’s investment,” he said.

News from Angel HQ
Wellington’s angel network AngelHQ joins others in New Zealand’s early stage investment community, congratulating the cloud-computing company Greenbutton on its successful sale to Microsoft.

“Greenbutton was one of the first ventures AngelHQ investors put money into over four years ago,” said Angel HQ Chairman, Bruno Bordignon.

“We are delighted to celebrate this win, not just for our investors but for the Wellington region, as many of these investors recycle into other opportunities.

“In doing so these investors are not only creating more jobs but tangibly supporting the ambition and aspiration all of us should share for Wellington’s entrepreneurs who are creating ‘value-added’ intellectual property and generating export revenue.” Mr Bordignon added.

 

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