EA Fund 4 is a boutique fund that invests in disruptive, innovative, high-growth New Zealand startups aiming to transform industries and improve people’s lives. The investment thesis incorporates 16 years of Enterprise Angels learnings and takes advantage of the lower valuations we are seeing in the current recessionary environment. 

Fund 4 is an excellent way to begin your angel investment journey, offering a diversified portfolio of over 20 early stage companies. To date the fund has committed to investing in nine Kiwi startups. 

• Advemto - Revolutionising biomarker mapping with its advanced 2D molecular barcode reader, enabling clinical and pharmaceutical labs to identify hundreds of biomarkers simultaneously. This innovation will accelerate drug development and clinical diagnostics. 
• Blackcurrent  - Providing smart, simple, modern Microgrid solutions that help customers make more intelligent decisions about energy usage, creation, storage, and management. 
• Bonnet - A vehicle management platform with government API integration that automates compliance tasks (WOF, COF, REGO, RUCs) and streamlines service scheduling. It offers fleet managers a comprehensive, reliable solution for fleet compliance and management. 
• Bovonic - Mastitis detection made easy! Its QuadSense product uses Bovonic's patented milk sensor and latest detection algorithm to identify mastitis in its earliest stages. 
• Emerge - A digital first business banking alternative, targeting SMEs. Its 100% app-based finance is built to allow New Zealand businesses to be more cost-effective and save time. 
• Extraordinary – An innovative employee benefit solution allows employers to provide economic contributions to employees, through personalised Extraordinary Mastercards. Employees use an app to see their available funds and spending options. 
• Kai's Education - Making coding and computer science fun and accessible for every child in schools with engaging, innovative tools. Their toolkit empowers teachers with cutting-edge technology like robotics, AR, VR, IoT, and AI to boost STEAM skills and ignite student interest. 
• Kara Technologies - The global pioneer of the first hyper-realistic sign language avatars powered by artificial intelligence. 
• Realaml - Allowing for verification of customers in seconds, anywhere, anytime. It offers 1000s of verification components you can select for the ideal Know your customer (KYC) and anti-money laundering (AML) experience. 

Click here for founder interviews and investment notes 

Why Invest in EA Fund 4?  

• The timing is perfect. Despite the current market challenges, we believe it is an ideal time to launch a fund and invest in startups. In recessionary times, we see bold, innovative founders solving difficult problems. Uber, Airbnb and Slack are just a few examples of the ground-breaking innovation that came out of the 2008 recession. Further, company valuations are very appealing having come off the 2021 frothy highs. EA Fund 4 is poised to take advantage of this and reap the benefits of a recovering economy in future years. 
• Leverage our experience. With over 100 investments to our name, our collective experience in this space is substantial. We have undertaken case studies on most of our companies that have exited and a few that are still live. This has helped shape our investment processes and portfolio monitoring. The Fund will screen, conduct due diligence and invest in opportunities leveraging the extensive expertise from within the membership, including staff, the EA GP Investment Committee and from our wider network, including portfolio founders, corporate and strategic partners, co-investors and next stage investors.  
• Quality deal flow. Our network and strong reputation ensure we see a broad range of quality deals. The Fund will also be able to cherry pick from the best of our current portfolio, these are often companies the team has been able to observe and assess over several years. This part of the deal pipeline is very difficult to replicate due to strong demand in these follow-on rounds meaning often only existing investors can access them.  
• Minimising risk. Diversification is a portfolio construction strategy that substantially reduces risk and increases the chances of good returns, particularly important in the high-risk startup sector. With a fund, this is done for you.  

Why Enterprise Angels? 

Our 350+ existing investors bring extensive expertise and hands-on support, guiding companies through due diligence, acquisitions, and growth. These ‘Angels’ provide invaluable hands-on support and insight that is not always available to a purely team led fund. Over the years, our Angels have assisted with due diligence in their area of expertise and joined as investor representatives and directors, guiding companies through growth and acquisitions. Having access to a knowledge base such as this is key in securing, supporting, and growing our portfolio companies.   

EA Fund 4 terms: 

• Minimum Fund size: $2m, Target: $6m, Maximum: $10m. 
• Invest in up to 35* innovative, globally scalable NZ companies. *assuming a $10m fund. 
• 30% of capital reserved for follow-on support in the best performing companies. 
• Limited Partnership, closed fund structure. 
• 2% application fee plus catchup interest, payable with initial capital call. 
• 2% management fee and 20% carry with an 8% hurdle. 
• Capital called over five years. First call of $0.30/unit.  
• Minimum investment: $50k. 

Investing in EA Fund 4 offers more than just capital – it’s an opportunity to leverage your expertise and connections, making a real difference in the growth journey of our start-ups.  Join us in fostering innovation and success! 

The final close is 31 March – Don’t miss out on this opportunity to get involved. 

• View the presentation from Nina Le Lievre, Enterprise Angels CEO, here. 
• Register your interest below to receive IM, Key Terms and Partnership Agreement, or to connect to the Enterprise Angels team to find out more.