Angel investment in young New Zealand firms soars

Young New Zealand businesses saw a record 53.2 million NZ dollars (44.96 million U.S. dollars) in investment from angel investors, a government-supported fund manager announced Monday. The record influx of funds, up 80 percent from 2012, reflected growing confidence in the technology and innovation sector, said New Zealand Venture Investment Fund chief executive Franceska Banga. Companies in software and services saw investment increase by more than 140 percent year on year, while investment in health sector companies quadrupled. "Growing investor confidence in the New Zealand technology sector led to a marked surge in investment activity during the year, with software and services leading the charge," Banga said in a statement. "The surge in angel investing also reflects the strong pipeline of new opportunities coming into market."