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Enterprise Angels
Bill Murphy founded Enterprise Angels in 2008 as the Western Bay of Plenty's first formal angel network.
Enterprise Angels
Bill Murphy founded Enterprise Angels in 2008 as the Western Bay of Plenty's first formal angel network. Now governed by a member-elected board chaired by a rotating group of experienced operators, the Tauranga-headquartered firm connects over 150 wholesale investors with early-stage New Zealand companies. Its community of angels participates directly in due diligence, mentoring, and board seats rather than relying entirely on third-party fund managers. The firm targets seed and start-up rounds, operating across software, hardware, and agritech. Its sidecar funds — EA Funds 1 through 4 — sit alongside direct angel syndication, and the group also facilitates secondary market sales of private shares. The portfolio is heavily weighted toward Auckland, Bay of Plenty, and Wellington-based companies. Confirmed positions include FileInvite, Fuel50, Datagate Innovation, and Quantec, an IP-driven dairy supplements business that presented at a 2025 pitch night. Enterprise Angels has moved from a purely regional network to a nationwide platform with a full-time investment management team led by CEO Nina Le Lievre and Investment Manager Jake Hoffart. The firm administers an Investment Committee that screens deals for fund participation and an Exit Committee focused on trade-sale and IPO liquidity for mature holdings. In early 2025, founder Bill Murphy stepped down as board chair to focus on Purpose Capital, marking a leadership transition after 17 years. The firm's structural differentiator is its dual-track model: a professionally staffed manager operating sidecar funds with defined investment mandates, layered on top of a large, member-driven angel network where individual investors co-underwrite directly alongside the fund vehicle. No other New Zealand angel group operates at comparable membership scale with a full-time deployment team and an internally managed secondary market for portfolio shares.
General information
Firm type
Angel Group
Year founded
2008
AUM
Undisclosed
Location
Region
Oceania
Country
New Zealand
City
Tauranga
Corporate office
Tauranga, New Zealand
Principals
Nina Le Lievre
CEO
Bill Murphy
Founder
Jake Hoffart
Investment Manager
Jordan Cranshaw
Investment Operations Lead
Sector focus
Frequently asked questions
Who makes the final investment decision at Enterprise Angels?
Investments proposed for the sidecar funds are screened and recommended by the Investment Committee, which evaluates deals against a mandate focused on people, market size, moat, and global ambition. Final approval rests with the EA GP Board. Individual angel members make their own decisions on direct co-investment opportunities and are not compelled to follow the fund's allocation.
How is Enterprise Angels structured — is it a fund or a network?
It operates as a membership-based incorporated society and has launched four closed-sidecar funds (EA Fund 1 through 4) that invest alongside the angel network. The structure creates a hybrid where a central professional team manages pooled vehicles while the 150-plus members execute direct angel investments independently.
Does Enterprise Angels only invest in New Zealand companies?
Yes. The firm's mandate targets early-stage companies that are New Zealand-based with global ambitions. The portfolio is concentrated in Auckland, Bay of Plenty, and Wellington, and the group is a member of the Angel Association of New Zealand, which formalizes its domestic-only investment perimeter.
What liquidity options exist for investors in Enterprise Angels deals?
Enterprise Angels operates a secondary market for previously issued shares, with recent listings including FileInvite, Fuel50, and Datagate Innovation. Additionally, an Exit Committee comprised of exited entrepreneurs and veteran angels focuses on realizing returns through trade sales, post-angel funding rounds, and IPOs for more mature portfolio companies.
How does membership work and what does it cost?
Membership offers priority access to deals, reduced administration fees, and free entry to events. Members can participate in due diligence, serve as investor representatives, volunteer as mentors, and join committees or the board. Specific membership fees and minimum investment thresholds are not publicly disclosed.
Which sectors does Enterprise Angels explicitly avoid?
The firm does not publish a formal exclusion list, but its investment committee screens for opportunities that are innovative, scalable, and have global potential from a New Zealand base. The portfolio is notably concentrated in software, hardware, and agritech, suggesting life sciences and capital-intensive deep tech are not primary targets.
How is the leadership transitioning following Bill Murphy's departure as chair?
Bill Murphy stepped down as Chair of the Board in early 2025 to focus on Purpose Capital, his separate investment vehicle. The board continues to be member-elected and comprises experienced operators including Amy Sharrock, Carolyn Culliney, John O’Donoghue, Matt McHardy, Rob Dorey, and Sue Campbell, with CEO Nina Le Lievre running day-to-day operations alongside a full-time investment team.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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