Bridget Unsworth: Angel Association CEO on investment in the start-up scene surging by 14% in 2025

There’s renewed hope in the Kiwi start-up scene with a surge of investment in 2025.  

New data shows the number of deals rose 14%, with total investment surging 61% to $754 million.  

Fintech and health-tech saw strong gains, while climate and clean-tech dropped. 

Angel Association Chief executive Bridget Unsworth told Mike Hosking 47 companies were funded, compared to 51 in 2023.  

She says more money going into fewer deals is an exciting sign of the start-up ecosystem maturing. 

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Episode Transcript

Speaker 1 (00:00):
Startup scene. Lord's healthy. Last year, what they call deal
volume was up fourteen percent. Total investment was up sixty
one percent, So you're talking about seven hundred and fifty
four million dollars. We had one hundred and sixty six
deals done. Bridget Unsworth is Angel Association Chief Executives with US.
Bridget morning to you, Good morning mate. More deals and
bigger deals, a mix of both. What's going on.

Speaker 2 (00:21):
Yeah, Look, what it means is that we have had
some companies that have proved really successful global expansion. So
we've got more money going into less deals, which is
super exciting. It means that our ecosystem is maturing. You know,
the example of Holte which was announced last month, three

(00:42):
hundred and seventy seven million New Zealand dollars going in
you know, led by a US investment firm, founder's fund,
backed by DCVC, Bessemer, etc. But the more important story
with that is that was backed early stages with Ice
House Ventures in their LPs who continue to invest in
that company. So really it's showing a strong economic growth

(01:04):
after what was you know, heady days of twenty twenty
one where we had incredible investment dollars invested two to
twenty twenty four. We took stock dollars, retracted new deals
weren't getting funded as easily. So this is really really
positive overall.

Speaker 1 (01:21):
Two part question, do you cite Halter because Holter are
at and they're they're the rock star? And two is
it all tech? And AI?

Speaker 2 (01:30):
I cite Halter because it's an example that's publicly available
that kind of backs up the data from what we
saw in twenty twenty five. So there are Holter like
deals in that investment data from twenty twenty five where
you've got some significant realms done by a few companies. No,
it's not all tech and AI. I think New Zealand

(01:51):
is really well known globally on an egg tech stage.
That is probably why Holter has got that really strong,
you know, traction with offshore investors. But I think also
we are really doubling down in the areas that we
have made a name for ourselves. You know, who would
have thought we had a space sector a few years ago.

(02:14):
Now everybody overseas is all talking about rocket labs, talking
about zeros, talking about the whole tos. So I think
we're well known for really executing phenomenal companies.

Speaker 1 (02:23):
What's the risk profile. Am I in because I vibe
it and I'm patriotic and I've got a few dollars
or Am I in it because I need a return
and I expect one.

Speaker 2 (02:32):
I hope it's not the latter, because even though we're
obviously not philanthropic investors and so we hope for a return.
You know, it is a really risky stage, and so
you know the nineteen percent of deals that went into
proof of concept, you know a significant number of those
are going to fail. That is part of the ecosystem
that startups involve, you know, are evolved in. So it

(02:54):
is part investing to support the great companies at the
time based on information that you know at the time
you're making that investment, and you hope that those companies grow, pivot,
evolve to the market forces and the way the market
is changing. But not everybody will survive, and so it's
about being rational with your capital and the hope that

(03:14):
at some point down the track, you know, it's a
long game. It's ten, twelve, fifteen years that you will
have a Halter or a rocket Lab in your portfolio
and that will return all your investment dollars.

Speaker 1 (03:25):
Numbers don't like great insight Well Bridgid Dudsworth, who is
the Angel Association boss sixty one percent, seven hundred and
fifty four million.

Speaker 2 (03:32):
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