Overview

FKA is a group of some 60 active Angels. FKA was formed in 2014 by 12 angels and since then our investors have together invested more than $20m in over 40 companies. We maintain a nominee register consolidating as bare trustee the investments of over 200 individual investors. This benefits startups by keeping their growing cap table light.

Our Angels go through an accreditation process. Once accepted they may bring any company to seek support for collective Due Diligence. There is no screening committee, approval to proceed to DD is given by the majority vote of the Angels participating in the DD Driver Fund. The rigour of our DD can be seen from previous DD Reports.

Our sweet spot is leading the first round after Friends and Family. When we back a company we help to close the round by sharing our DD Report with other investors. Any of our angels can bring a deal with an appropriate DD Report from another lead investor for co-investment.

Over the last 10 years, with more than 50 participants, our DD Driver Fund process has shown that some angels had their best returns from the wisdom of the crowd selections rather than their own.

Therefore we have decided to run a Sidecar Fund for less active investors. It leans on the collective wisdom of our active angels and mirrors their behaviours. The NEXT GEN Fund motivates and educates younger investors to make informed collective investment decisions, much like the DD Driver.

DD Driver Fund 💪

Open to Active Flying Kiwi Angels by invitation. $15k to decide on DD and investment of the next 5 deals. Ticket size: $3,000 is invested by a majority vote of the participants. Open to later participants who invest only for the balance of outstanding deals.

Sidecar Fund 🛵

Open to wholesale investors only. $10k minimum, $50k maximum in $5k increments. Ticket size: 10% of the fund investment is invested in first rounds which receive at least $100k support from Active Flying Kiwi Angels; 15% in follow-on rounds within 24 months that receive at least $50k support.

Sidecar investments may be scaled back proportionately if a round is oversubscribed. When the remaining balance is less than 20% of the initial investment it is applied in full if it does not exceed the standard allocation by more than 50%.

Open to top-ups at any point which reset the ticket size but limited to $50k total fund investment. Top-ups are adjusted for the remaining balance.

NEXT GEN Fund 👼

Open to young persons under 35 via a Catalist account paired with a wholesale investor. Ticket size: $1,000 invested by majority vote of the participants. Open at any time to a $5k fixed investment.

👉 More on how Next Gen Fund works