<aside> 🐝 Scope: Stats in this report cover the period 1 July 2021 - 19 May 2022 to meet reporting deadline of 1 June. As a result, figures do not include yet-to-be finalised potential investments in this financial year. Three startups are currently in due diligence and two more teams will pitch before 30 June 2022. The likelihood of an upward adjustment in results for the full financial year is reasonable.
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Investment in FY22 was $1.78M, significantly up on FY21 due to:
We are ahead of our cumulative 25% pa growth target by more than double, outperforming by $1.72M.
Our target for deployed capital in FY23 is now set at $2.88M.
Since inception the group has invested $3.5M into 18 startups. See Portfolio here
Southern Angels has achieved 90% membership growth in FY22, increasing to 40 members. During the period, two members chose not to renew. The group has developed a strong pipeline of potential new members and expects to achieve its 40% pa growth target of 56 members in FY23.
| FY21 | FY22 | |
|---|---|---|
| New members | 9 | 18 |
| Total members | 21 (M 18, F 3) | 40 (M 31, F 9) |
| Resignations | 1 | 2 |
| Growth | 62% | 90% |
Members have invested alongside various VCs, syndicates and other angel groups, including:
SAVCF
Artesian
MedPro
Uniseed
Chapman Capital
Melbourne Angels
Brisbane Angels
Capital Angels
Sydney Angels
Ontogo Syndicate
Tamalpais Group Investment
Forepont Capital Partners
Adelaide Vascular Research Association
Playbook Ventures
Myrtle Investments
BioPacific Investors
PAN Ventures
Startup Galaxy
Various angel investors
This year we have assessed 75 startups, brought 20 to pitch, and invested in 9 of them.
| FY21 | FY22 | |
|---|---|---|
| Startups assessed | 79 | 75 |
| Startups pitched | 15 | 20 |
| Pitch events | 9 | 12 |
| Investments | 3 | 9 |
Hands-on angel investor education is lacking in South Australia hindering investment into startups. In response, we continue to identify education gaps in the market and schedule professional educational events to up-skill members and other high-net-wealth investors interested in supporting startups.
| Education events | Date | Venue | Format | Outcome |
|---|---|---|---|---|
| Angel Investor Workshop | 30/11/2021 | PwC | In-person | 36 attendees |
| Modelling for Angel Investors | 22/05/2022 | Zoom | Video | 13 attendees |
Progress was made in FY22, partly thanks to the introduction of an Ambassador Membership Program to improve our visibility among underrepresented investor groups in the community.
Female membership increased by 200% (from 3 to 9) compared to a 72% increase in male membership (from 18 to 31).
We will continue to host a welcoming, professional, and inclusive environment for investors and founders and pursue gender parity in our membership.
We also strive for greater cultural diversity, diversity in thinking and age diversity. The average age of our membership was 56 at June 2021 with no members under the age of 40. The average has now come down to 52, representing a 7% drop, with 4 members under 40 joining the group in FY22.