Enterprise Angels EA Fund 1 investee Volpara Health Technologies made the finals of the New Zealand International Business Awards in the Best Emerging Business category.
Volpara was founded to reduce the mortality and cost of breast cancer by improving the quality of screening and helping radiologists give women the most accurate information possible regarding their breast health. Its wholly owned sales and marketing arm is Volpara Solutions.
EA Fund 1 invested NZ$100,000 in Volpara, then named Matakina Technology, in October 2014. The company listed on the ASX in April, raising about A$10 million (NZ$10.5 million).
The fund's 239,856 ordinary shares have a current value of about AUD$206,000 (NZ$$217,300), more than doubling the fund's initial investment. Ten per cent of the EA Fund shareholding is locked up until next April under the terms of the listing.
Enterprise Angels executive director Bill Murphy said Volpara came to the EA Fund through its capital market connections.