Punakaiki Fund: Mindfull Group and Melon Health

New Investment: Mindfull Group

At the end of last year we invested into Mindfull Group, and Punakaiki Fund now holds 20% of the shares. I have joined the owners Belinda Johnson and Richard Johnson on the board of directors.

CEO Belinda Johnson and CTO Richard Johnson are a high energy duo, and I have been very impressed at the pace of change that they are leading with the company. That includes a restructure of the firm to be based around their core business lines, moving their Auckland offices to consolidate into one location, restructuring the balance sheet and making a senior hire to drive US sales.

Mindfull Group specialise in business analytics, providing software and consulting to 300 clients, including some of New Zealand’s largest companies, and some large global companies as well.

They have consultants based in Auckland, Wellington and, now, in Portland, helping companies with financial performance management, predictive analytics and data warehouse solutions. Most of their consulting and software sales business is built around IBM Cognos TM1, a budgeting, planning and reporting tool for medium (large in NZ terms) sized businesses.

Mindfull Group have also developed software that extends the TM1 platform (and other platforms in the future for Qubedocs), including Qubedocs, an automated documentation tool sold globally and Mi Bi, a cloud based Business Intelligence tool that allows smaller and mid-sized businesses to budget, forecast, report and do cashflow modelling on the IBM toolset. Mindfull also provide local sales and consulting services for WhereScape, a New Zealand developed and created data warehouse automation tool that is gaining global traction.

Mindfull are a very professional firm, delivering high value solutions to their clients. We are investing to help them accelerate their product development and expansion offshore, and remain comforted by their strong and growing business here in New Zealand.

Another round for Melon Health
We are participating in a rights issue for Melon Health, who are raising funds to help them deliver on a number of compelling opportunities developed in 2015. This round raises the valuation of Melon Health slightly to reflect that progress, which includes pilots in three countries (one is nearing completion), being selected and completing the Techsters and Mayo Clinic partnership programs, and general traction on major sales.

About Lance Wiggs

@lancewiggs
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