A founding partner and 18% shareholder in the Movac investment company, Phil McCaw is an active angel investor who was one of the initial investors in Trade Me, which netted him $73 million and still rates as his best deal.
Movac funds have invested more than $55 million in about 25 companies, including wireless tech company PowerbyProxi, fundraising website Givealittle, beauty appointment booking service Flossie.com, appointment-booking software startup Timely and flight recovery drink maker 1Above.
Movac realised a healthy payback when Apple bought PowerbyProxi last October.
Overseas Investment Office records show the deal was worth somewhere north of $100 million (the industry rumour-mill said $200m). McCaw owns 18.47% of Movac, which had a 20% stake in PowerbyProxi.
PowerbyProxi mulled a $40m IPO back in 2014 as it began to get buzz on the back of a small investment from Samsung. Movac came aboard in 2009, close to the company’s creation by a couple of Auckland university students.
Regarded as a hands-on investor, Movac’s funds have attracted institutional investors including Ngāi Tahu Holdings, with the rest from NZ Venture Investment Fund, local family offices, community trusts, and private investors.