Last week NZ equity crowdfunding (ECF) surpassed $5m in capital raised. In total, fourteen ECF offers have been made since the Financial Markets Authority issued the first licenses in the middle of last year. Of the fourteen offers; seven (including Invivo) have been successful, five are live but have not reached the minimum offer threshold and two were unsuccessful.
One of the interesting aspects of ECF is the increase in transparency of early stage capital raising processes. Listed below are five metrics from the first fourteen ECF offers.
1. 70% of offers were for $350,000 or less
The minimum offer was $50,000 and the maximum was $750,000 from Pledgeme and Aeronavics respectively.