Business growth centre The Icehouse and its angel investment network dubbed the Ice Angels have announced a record year, investing more than $7.8 million into 26 New Zealand companies.
During 2013, the Ice Angels hosted a number of investment events, which allowed businesses to pitch their ideas to the angel investors.
More than half of the 39 companies that pitched their ideas successfully attracted investment.
The Angels include global CEOs, exited entrepreneurs, and professional investors, and the network numbers more than 200 members.
The director of Ice Angels Ken Erskine says there are a number of reasons behind last year's success.
"To begin with, greater coordination with other investment groups around New Zealand has worked well to enable more startups to raise more money."
The Ice Angels' collective investment of $7,890,819 in 2013, is almost double the amount invested in the previous two years.
"Last year, Ice Angel's portfolio companies including Booktrack, Stolen Rum, and Nexus6 secured significant amounts of venture capital, launched new products, and successfully broke into overseas markets," said Erskine.
Since being founded by The Icehouse in 2004, the Ice Angels have invested in 55 companies; almost 80 per cent of these investments have been made in the past five years.
Increased investment and engagement is just a sign of good things to come, said Ice Angels advisory board member Mark Wynne.
"The outlook for 2014 is already looking good. We've met with dozens of fascinating startups and have already invested nearly $1m.... The sign off of crowdfunding by the government opens the door for many more kiwi startups to raise seed funding," Wynne said.