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EUROPEAN BUSINESS ANGEL NETWORK EUROPEAN DIRECTORY OF BUSINESS ANGEL NETWORKS IN EUROPE - November 2005 - This document has been coordinated by: Claire Munck and Christian Saublens EBAN Secretariat C/o EURADA Avenue des Arts 12 Bte 7 B-1210 Brussels T: +32 2 218 43 13 F: +32 2 218 45 83 E: info@eban.org W: www.eban.org
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong><br />
<strong>EUROPEAN</strong> DIRECTORY<br />
OF<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong>S IN EUROPE<br />
- November 2005 -<br />
This document has been coordinated by:<br />
Claire Munck and Christian Saublens<br />
EBAN Secretariat<br />
C/o EURADA Avenue des Arts 12 Bte 7<br />
B-1210 Brussels<br />
T: +32 2 218 43 13 F: +32 2 218 45 83<br />
E: info@eban.org W: www.eban.org
‘ Due to the private and confidential nature of the informal venture capital market, it is very<br />
difficult to collect comprehensive information on that market as it is feasible for the venture<br />
capital market.<br />
The data published in this document is based on the best knowledge of the EBAN<br />
Secretariat, the contribution and good will of its members and the collaboration of business<br />
angel networks across Europe.<br />
This document can be freely reproduced in order to support the development of the<br />
European informal venture capital industry.<br />
The 2001 and 2002 versions of this document had received financial support from the DG<br />
Enterprise of the European Commission.<br />
The EBAN Secretariat wishes to thank all of the organisations and individuals who have<br />
contributed to this document.’<br />
2
EBAN, the European Business Angel Network, was established by the European<br />
Association of Development Agencies (EURADA) with the support of the European<br />
Commission in 1999.<br />
EBAN is an independent body, financed by its members and the provision of secretariat<br />
support for day-to-day and project management. As such, it is free to pursue the best interest<br />
of its members with the sole objective of advancing the recognition of the BA and BAN<br />
industry in Europe.<br />
The Association has the purpose of:<br />
• Encouraging the exchange of experience among business angels networks and<br />
encouraging " best practice ".<br />
• Promoting recognition of business angels networks.<br />
• Contributing to working out and carrying out local, regional and national programs of<br />
assistance to the creation and development of a positive environment for business<br />
angels activities.<br />
Board of Directors<br />
- Paolo Anselmo, IBAN, Italy<br />
- Martin Carr, Equity Link, UK<br />
- Anthony Clarke, London Business Angels, UK<br />
- Albert Colomer, BANC, Spain<br />
- Christian Stein, i2/aws, Austria<br />
- Arne-G. Hostrup, f.u.n NetzwerklNordbayern,<br />
Germany<br />
Executive Committee<br />
- Risto Kalske, SITRA, Finland<br />
- Roland Kirchhof, BAAR, Germany<br />
- Philipp Oberli, ASBAN, Switzerland<br />
- Claude Rameau, France Angels, France<br />
- Birgitta Österberg, NUTEK, Sweden<br />
- Roger Piqué, CIDEM, Spain<br />
- Ute Günther, BAND, Germany<br />
President of the Association: Anthony Clarke, London Business Angels (UK)<br />
Vice-President of the Association: Claude Rameau, France Angels (F)<br />
Members of the Executive Committee:<br />
Brigitte Baumann, MBAN (MT)<br />
Paolo Anselmo, IBAN (I)<br />
Philipp Oberli, ASBAN (CH)<br />
4
Table of contents<br />
Directory of business angel networks operating in Europe 6<br />
Austria 12<br />
Belgium 15<br />
Czech Republic 27<br />
Denmark 35<br />
Finland 37<br />
France 40<br />
Germany 63<br />
Greece 93<br />
Hungary 97<br />
Italy 98<br />
Latvia 113<br />
Luxembourg 114<br />
Malta 116<br />
Norway 118<br />
Poland 125<br />
Portugal 128<br />
Spain 130<br />
Slovenia 152<br />
Sweden 155<br />
Switzerland 163<br />
The Netherlands 179<br />
Turkey 179<br />
United Kingdom 182<br />
Russia 227<br />
M<br />
EBAN member 2005 Updated<br />
5
EBAN Directory of networks operating in Europe in 2005<br />
*EuBAN, as a tri-national network, is mentioned in the Belgian, German and Dutch Statistics<br />
but counted only once for the total of networks.<br />
**DVCA conducts an annual survey near its member networks. The results of the survey will<br />
be forwarded to EBAN once completed.<br />
Networks having responded to our survey in 2005.<br />
EBAN Directory of business angel networks 2005<br />
Name of BAN<br />
Austria 2<br />
i2 - aws<br />
AICO (Linz – Upper Austria)<br />
Belgium BeBAN 6<br />
Africa Synergie<br />
BAMS<br />
Solvay Business Angels Connect<br />
BAN Vlaanderen<br />
EuBan<br />
WABAN<br />
Czech Republic 2<br />
BANET<br />
Angel Investor Association<br />
Denmark DVCA 8<br />
RBAN Switzr<br />
RBAN Østjylland<br />
RBAN Midt/Vest<br />
REBAN Oresund<br />
REBAN Syd<br />
RBAN København<br />
DVCA IT Forum<br />
DVCA Lifescience Forum<br />
Finland 1<br />
Sitra PreSeed-Finance / Intro Service<br />
France France Angels 38<br />
Anjou Amorçage<br />
Arcange - Plurin (22)<br />
Altantic Emergence - Nantes<br />
Aurinvest - Paris/France<br />
Aube Investissement - Troyes<br />
Bourgogne Angels - Dijon<br />
Chevaliers D'Entreprise - France<br />
Club 3c - Toulouse<br />
Club B2A Nord Pas de Calais<br />
Club Inv'est 77 - Melun<br />
Coach'Invest - Paris<br />
Dilen - Paris<br />
Fa Dièse<br />
Femmes Business Angels - Paris/France<br />
6
Finance & Technologie - Paris/France<br />
Flamingo Ventures<br />
Grenoble Angels<br />
GSO Investissement<br />
Invest'95<br />
Invest'Essor - 92<br />
Invest'Y - Hedera - Versailles<br />
Irus Partenaires - Nantes<br />
Leonardo - Paris/France<br />
Loire Business Angels<br />
Logoden - Rennes<br />
Lorraine Business Angels - Metz<br />
Lyon Angels<br />
Mar-Tech & Finance - Paris/France<br />
Méditerranée Investissement - Nice<br />
Norm'Invest - Honfleur<br />
Octave - Lorient<br />
Paris Business Angels<br />
Savoie Business Angels - Chambéry<br />
Sophia Business Angels Club<br />
Start Me Up - Lyon<br />
Sud Angels - Montpellier<br />
Symbiose 53 - Laval<br />
Synergence - Angoulême<br />
X.M.P Business Angels - Frances<br />
Germany BAND 43<br />
BAAR-Business Angels Agentur Ruhr e.V.<br />
BACS Business Angel Club Schwaben<br />
BANKO e.V. Business Angels Netzwerk Rheinland<br />
BANO - Business Angel Nord Ost<br />
BANSON - Business Angel Netzwerl Süd-Ost Niedersaschsen<br />
BIC Leipzig<br />
BrainsToVentures GmbH<br />
Business Angel Fondsverwaltungs gmbh<br />
Business Angel Initiative Mittelhessen ev<br />
Business Angel Netzwerk Baden Baden<br />
Business Angel Netzwerk Bremen<br />
Business Angel Netzwerk Hamburg (HK)<br />
Business Angel Netzwerk Lausitz ev<br />
Business Angel Netzwerk Nordwestdeutschland e.V. (BANN)<br />
Business Angel Netzwerk Ostwestfalen (BANOW)<br />
Business Angel netzwerk|nordbayern<br />
Business Angel Team gmbh<br />
Business Angel Venture GmbH<br />
Business Angel-Netzwerk Niedersachsen (BAN-NDS)<br />
Business Angels Club Berlin<br />
Business Angels FrankfurtRheinMain e.V. (BARM)<br />
Business Angels Initiative Südwestfalen - ASIO<br />
Business Angels Netzwerk Saarland<br />
Business Angels Netzwerk Thüringen c/o STIFT<br />
Business Angels NRW e.V.<br />
7
Business Angels Pfalz e.V.<br />
Business Angels Rheinhessen<br />
Business Angels Weser Ems w.v<br />
CatCap GmbH<br />
EcatInvestor<br />
Forum Kiedrich gmbh<br />
icon innovation gmbH<br />
IHK-Expertenkreis Innovationsfinanzierung<br />
InnovationsCampus Wolfsburg<br />
Investoren für Unternehmen in Schleswig-Holstein e. V.<br />
MCG Beratungs und Beteiligungsnetzwerl Berlin Brandenburg<br />
Munich Business Angels AG<br />
NUK-Verband Neues Unternehmertum Köln-Bonn-Aachen e.V.<br />
Raphael - Sächsisches Business Angels Netzwerk e.V<br />
SABAA - in creation<br />
Venture Forum Neckar ev<br />
win - Wagniskapital für Innovationen NRW GmbH<br />
euBAN<br />
Greece 1<br />
Mentoring Business Development Services SA<br />
Hungary 1<br />
Business Angel Club<br />
Ireland 1<br />
Business Angel Partnership<br />
Italy IBAN 12<br />
Ban Bologna<br />
Ban Brescia<br />
Ban Campania<br />
Ban Lazio<br />
Ban Lombardia 1 – BIC La Fucina s.cons.r.l<br />
Ban Puglia<br />
Ban Sardegna<br />
Ban Toscana Sud<br />
BAN Umbria<br />
BAN Alpe Adria<br />
BAN Nord-Ouest<br />
Club Milano Centro<br />
Latvia 1<br />
CONNECT Latvia Business Angels Network (In creation)<br />
Luxembourg 1<br />
Luxembourg Business Angels<br />
Malta 1<br />
MBAN<br />
Norway NorBAN 7<br />
Roban<br />
Artic BAN<br />
BioBAN Oslo<br />
ICT BAN Oslo<br />
NorBAN London<br />
Partus<br />
Connect Norge - 4 regional networks below<br />
8
Connect Vest Norge<br />
Connect Nord Norge<br />
Connect Ostlandet<br />
Connect Mid Norge<br />
Poland 2<br />
PolBAN<br />
Lewiatan Business Angels<br />
Portugal 1<br />
Gesventure<br />
Russia 4<br />
Moscow Business Angel Network<br />
BRAIN<br />
Business Angels Club<br />
Private Capital<br />
Slovenia 1<br />
Slovene Business Angel Club<br />
Spain CIDEM + ESBAN 20<br />
ABANT<br />
BAN Madrid<br />
BANC<br />
BANCO<br />
BANG<br />
BAXI<br />
BCN Business Angels<br />
Club d’Inversors La Salle –URL<br />
ESADE – Club d’emprenedors I Inversors<br />
Esfera UAB – Not Operative<br />
IESE BAN<br />
MADBAN<br />
Madrid Capital<br />
PIMEC Capital – Not Operative<br />
Proexca – Canarias<br />
UNIBAN<br />
SODERCAN - Cantabria<br />
XARXAP - ALTA Partners<br />
XIP Mataro<br />
XIPJEC – Not Operative<br />
Sweden SVCA / NUTEK 28<br />
30up.com<br />
Affärsängelnätverket Delfinerna (ALMI Skane)<br />
ALMI Stockholm Änglar<br />
Uppsala Privatinversterarnätvrk (UPPI)<br />
Business Angels Syd<br />
Connect Halland<br />
Connect Norrbotten<br />
Connect Skane<br />
Connect Sydost - 3 local networks<br />
Connect Väst - 4 local networks<br />
DalaBAN<br />
Delfinerna I Västerbotten<br />
Entrepreneurial Capital Network<br />
9
Affärsänglar i Mittsverige<br />
Kista Innovation & Growth<br />
Result Network<br />
Roslagens Affärsängkar<br />
Investment AB Spiltan<br />
ITP Invest<br />
W Venture Network<br />
X Invest<br />
Y Network<br />
Änglanätverk Norr - Umea<br />
Switzerland ASBAN 7<br />
Bisange SA<br />
Brains to Venture AG<br />
Business Angels Schweiz<br />
Club valaisan des Business Angels<br />
MSM Invertorenvereinigung<br />
Start Angels Network<br />
Venturix AG<br />
The Netherlands 5<br />
Nebib<br />
euBAN<br />
ABN Amro<br />
Rabo Bank<br />
PPM Oost NV<br />
Turkey 2<br />
BANTR<br />
Banatolia<br />
UK British Business Angels Association 35<br />
Advantage Business Angels<br />
Anglo American Angels<br />
Angel Bourse<br />
Beer and Partners<br />
Business Link Devon and Cornwall<br />
C2 Ventures London & Berkhamsted<br />
Capital partners Group<br />
Cavendish Management Resources<br />
Catapult Investment Partners<br />
East Midlands Business Angels Ltd<br />
ENTRUST<br />
Envestors<br />
Equity Link<br />
E-Synergy<br />
Finance South East<br />
First Capital<br />
Halo<br />
Hotbed<br />
K@talyst<br />
Katalyst Ventures Ltd<br />
Kingston Business Angels (KBA)<br />
LINC Scotland<br />
London Business Angels<br />
10
Oxford Early Investments<br />
Oxford Investment Opportunity Network Oxfordshire<br />
Pi Capital Limited<br />
Solent Investment Opportunities Network<br />
SWAIN<br />
TECHINVEST<br />
Thames Valley Investment Network<br />
University of Warwick Science Park Limited<br />
Venture Site<br />
Winsec Corporate Exchange Ltd<br />
Xenos<br />
Yorkshire Association of Business Angels<br />
Total 231<br />
11
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
AUSTRIA<br />
2005<br />
In Austria, Business Angel (BA) activities were initiated in 1997 by I2, a department of<br />
Innovationsagentur, a state-owned non-profit organisation supporting innovative ideas and<br />
entrepreneurs in Vienna. Innovationsagentur was merged with AWS (The Austrian Investment<br />
Agency and Promotional Bank) in August 2003.<br />
2. Statistics<br />
1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of BANs 1 1 1 1 1 1 1 1<br />
Number of Business Angels 1<br />
37 (21) 35 (20) 47 (34) 81 (49) 83 96 91 90<br />
(57) (72) (76) (82)<br />
Number of deals 2 2 4 4 4 7 8 1<br />
Number of accredited projects 37 39 47 63 92 103 69 60<br />
Number of commercial BANs - - - - - - - -<br />
Number of non-commercial BANs 1 1 1 1 1 1 1 1<br />
Number of national BANs 1 1 1 1 1 1 1 1<br />
Number of regional BANs - - - - - - - -<br />
3. BAN legal status<br />
The BAN (i2-The Business Angels Network) is a department of AWS.<br />
4. National association<br />
i2 is a branch of aws, the Austrian national business support agency and is the main BAN in<br />
Austria. aws helps the creation of regional networks, such as AICO operational since Mid-<br />
2005, and therefore acts as a quasi-national association for Austria.<br />
5. Lobbying<br />
Dissemination of the BAN concept: cooperation-partners in all Austrian countries and<br />
Bratislava (Slovakia) as well as the South Tyrol; partnerships with Universities,<br />
Academies/Colleges, science parks, network of lawyers, public relations.<br />
6. EU support<br />
i2 has received co-funding from DG Enterprise to strengthen its BA activities.<br />
7. Operating Model<br />
i2 has developed interesting synergies between BA and seed and guarantee schemes.<br />
8. EBAN members<br />
i2, department of AWS.<br />
1 Numbers in brackets concern private individuals; others include also strategic and institutional investors.<br />
12<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
i2 – AWS<br />
2005 M<br />
Contact person DI Stefan Kreppel, MBA<br />
Contact details Ungargasse 37<br />
Austria Wirtschaftsservice GMBH<br />
1030 Vienna<br />
T: +43 1 501 75 524<br />
F: +43 1 501 75 907<br />
E: business-angels@awsg.at<br />
W: www.business-angels.at<br />
Type of network National network<br />
Date of creation 1997<br />
Employees 3.5<br />
Legal status Department of AWS<br />
Hosting organisation AWS<br />
Formal partner organisations Ministry of economics, M&A advisor, tax<br />
advisor, law firms<br />
Funding sources:<br />
22%<br />
12%<br />
66%<br />
Public National<br />
Fees from<br />
Business Angels<br />
and enterprises<br />
Other (sponsors)<br />
1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of projects<br />
submitted<br />
37 39 47 63 81 103 69 60<br />
Number of Angels 37 35 47 81 83 96 91 90<br />
(21) (20) (34) (49) (57) (72) (76) (82)<br />
Number of deals made 2 2 4 4 4 7 8 1<br />
Average amount of the<br />
deal<br />
n/a n/a n/a n/a n/a n/a 140.000€ 150.000€<br />
200<br />
150<br />
100<br />
50<br />
0<br />
1997<br />
1998<br />
1999<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
13<br />
Deals<br />
Angels<br />
Projects
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching products of the network:<br />
• Computerised data-base matching service<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment forum / fairs<br />
• Networking events for investors<br />
• Mail presentation to all private investors<br />
• Contacts to potential Business Angels within two weeks after first contact<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
• Other: Partnerships with universities, academies/colleges, science parks, public<br />
relations, direct mailings.<br />
Fees:<br />
o Fees charged to entrepreneurs: 390€ for 6 months (reimbursed if no contact), in addition i2<br />
levies a success-fee for investments limited to 1% of investment.<br />
o Fees charged to Business angels: (for 1 year): 90€ (higher fees for other investor<br />
categories).<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 100 jobs<br />
Success story :<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)<br />
Mediornet IT/Mutlimedia 2003 3.8 m € 1 + VCs - -<br />
14
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BELGIUM<br />
2005<br />
Since 1998, seven BANs have emerged in Belgium. These networks were set up in the period<br />
1998-2001. They guaranteed a complete coverage of the Belgian area: 4 networks in<br />
Flanders, 2 in Wallonia and 1 in Brussels. In the beginning of 2004, the 4 Flemish networks<br />
merged into 1 Flemish network: BAN Vlaanderen.<br />
As per today, Belgian counts 4 networks: 1 network in Flanders, 2 in Wallonia and 1 in<br />
Brussels.<br />
The international (inter-regional) network Euban (B-D-NL) operates in the eastern part of the<br />
country.<br />
2. Statistics<br />
1998 1999 2000 2001 2002 2003* 2004**<br />
Number of BANs 1 4 6 7 7 7 5<br />
Number of Business Angels 0 n/a n/a n/a n/a n/a 160<br />
Number of deals 0 1 19 39 31 37 29<br />
Number of accredited projects 0 n/a 260 370 273 229 136<br />
Number of commercial BANs 0 2 2 2 2 2 1<br />
Number of non-commercial BANs 1 2 4 5 5 5 4<br />
Number of national BANs 0 0 0 0 0 0 0<br />
Number of regional BANs 1 4 6 7 7 7 5<br />
National association 0 0 1 1 1 1 1<br />
*Up to 2003, 7 networks were operating in Belgium, 4 in Flanders and 3 in Wallonia and Brussels.<br />
**Including Euban<br />
3. BAN legal status<br />
In Belgium, 4 out of 5 networks are not for profit organisations. The other one is a commercial<br />
BAN.<br />
Not-for-profit does not mean that these are public organisations: some are created together<br />
with development agencies, others are emanations of business schools, of business<br />
innovation centres and of private investors.<br />
4. National association<br />
The 5 Belgian networks all join forces in BeBAN, the Belgian Association of Business Angels<br />
Networks. Its main goal is the promotion of the visibility of business angel finance and<br />
business angel networks. A code of conduct was elaborated and subscribed by all existing<br />
networks.<br />
BeBAN became the facilitator in setting up cooperation between all Belgian BANs and other<br />
governmental, public and private organizations active in the field of risk capital. For instance,<br />
in 2002 a new product, the “business angel+”-loan, was launched by the national Participation<br />
Fund to give a favourable subordinated loan collateral to a BA-input realized through a BAN.<br />
The BeBAN contact details are:<br />
Mr Reginald VOSSEN, Chairman BeBAN<br />
C/o BAN Vlaanderen vzw<br />
Kunstlaan 18<br />
3500 HASSELT (B)<br />
E: r.vossen@banvlaanderen.be; W: www.banvlaanderen.be<br />
15
5. Lobbying<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Since 2000 and mid 2001, the Belgian BANs used BeBAN as a platform to discuss with the<br />
Finance and Banking Commission in order to clarify the scope of BAN intervention and the<br />
compatibility of their action with Belgian legislation on public issues and the obligation to make<br />
a prospectus. Because of this legislation business proposals cannot be submitted to more than<br />
50 people and business angel networks cannot ask for money from the entrepreneurs looking<br />
for money in their function as a matchmaker. If this would be the case, entrepreneurs are<br />
obliged to write a prospectus.<br />
6. National/regional Support<br />
All BANs in Belgium have secured financial support from their regional government. This<br />
support varies from region to region because of the fact that the economical policy is a<br />
regional (not a national) competence.<br />
The support of all regional authorities constitutes an official recognition of the contribution of<br />
Business Angels to the stimulation of the Belgian economy.<br />
In Wallonia, a guarantee scheme for BA-investments was installed through Sowalfin.<br />
7. EU support<br />
The European Commission supported several initiatives:<br />
� Awareness actions<br />
Ten awareness seminars have been conducted in the late 90’s. They were co-ordinated by the<br />
Réseau des Jeunes chambres économiques. Seminars were held in Bruges, Kortrijk, Gent,<br />
Antwerp, Leuven, Hasselt, Brussels, Mons, Liège and Wavre.<br />
� Feasibility studies<br />
Two feasibility studies were co-funded in Belgium: one done by GOM Vlaams Brabant and<br />
NCMV and another done by PYTHAGORAS n.v. , a private company.<br />
� Pilot projects<br />
DG Enterprise supported one pilot project in Belgium. The beneficiary was the Vlerick Leuven<br />
Gent Management School.<br />
� ERDF-support<br />
One network was supported through the European Regional Development Fund. The<br />
beneficiary was Limburg BAN vzw, which merged into the new Flemish network: BAN<br />
Vlaanderen.<br />
� Interreg III<br />
3 Belgian organizations (BAN Vlaanderen, SOCRAN and WfG Ostbelgien), together with a<br />
German (AGIT) and a Dutch (LIOF) partner started the Interreg-project Euban in January<br />
2004. EUBAN is a tri-national network in the Euregio Meuse-Rhine, which aims to generate<br />
more BA-activity in this region and to enhance cross-border investments through BA’s. Euban<br />
is partially subsidised through Interreg III-funds.<br />
8. Dissemination of the BAN concept<br />
The Dutch-speaking economic daily newspaper Financieel Economische Tijd published<br />
articles on BANs operating in Flanders. So did the French-speaking daily L’Echo for the<br />
Walloon networks. Many articles were originally inspired by the BAN's initiatives and by the<br />
efforts of Mr Rudy AERNOUDT, a Belgian European Commission official.<br />
16
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
In 2000, RTBF (the French-speaking public TV corporation) dedicated an edition of its weekly<br />
magazine ECO to the concepts of Business Angels and BANs in the Walloon Region.<br />
Economic magazines such as Trends/Tendance and PME/KMO have published several<br />
pieces on BA and BAN activities in Belgium in both French and Dutch.<br />
In May 2001, BeBAN organised a congress on “BAs: accelerators of economic growth” to state<br />
clearly the role of BA financing among other financial actors. Some 150 market players<br />
attended.<br />
The start-up of BAN Vlaanderen in February 2004 raised a lot of attention in all national media<br />
(TV, newspapers, business magazines…) and enhanced the knowledge about the existence<br />
of BANs. A large publicity-campaign with commercial spots, advertisements and a region-wide<br />
road show expanded the BAN-concept throughout Flanders.<br />
9. EBAN members<br />
BAMS<br />
BAN Vlaanderen<br />
17
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAMS<br />
2005 M<br />
Contact person Christophe Guisset<br />
Contact details Champ Vallée 17C<br />
B-1348 Louvain la Neuve<br />
T: +32 (0) 10 48 50 20<br />
F: +32 (0) 10 48 50 21<br />
E: mail@bamss.com<br />
W: www.bams.be<br />
Type of network Regional network<br />
Date of creation 1999<br />
Number of Employees 3<br />
Legal status Limited Company<br />
Formal partner organisations BeBan, BAN Vlaanderen, ING Bank<br />
Funding Sources:<br />
40%<br />
10%<br />
50%<br />
Regional funds<br />
F ees from<br />
Business Angels<br />
F ees from<br />
entrepreneurs<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted 30 50 50 40 40<br />
Number of Angels 30 40 50 50 50<br />
Number of companies financed 3 6 10 9 14<br />
Number of deals made 8 9 16 19 23<br />
Average amount of the deal 103.125€ 70.576€ 71.015€ 69.597€ 72.400€<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2000 2001 2002 2003 2004<br />
Angels<br />
Projects<br />
Deals<br />
Companies<br />
financed<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
18
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: 100€ - 500€<br />
o Fees charged to business angels: 100€ - 500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
19
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN VLAANDEREN<br />
2005<br />
Contact person Reginald Vossen<br />
Contact details Kunstlaan 18<br />
3500 Hasselt<br />
T: +32 (0) 11 30 01 76<br />
F: +32 (0) 11 30 01 02<br />
E: r.vossen@banvlaanderen.be<br />
W: www.banvlaanderen.be<br />
Type of network Regional network<br />
Date of creation 2004 – Result of the merger of 4<br />
regional networks in the Flanders<br />
region of Belgium<br />
4 regional antennas Antwerpen, Gent, Hasselt/Leuven, and<br />
Kortrijk.<br />
Number of employees 6<br />
Legal status: Non-profit organisation<br />
Funding sources:<br />
20%<br />
15%<br />
5%<br />
60%<br />
Regional funds<br />
Fees from<br />
Business Angels<br />
Fees from<br />
entrepreneurs<br />
O ther (sponsors)<br />
2004<br />
Number of projects submitted 64*<br />
Number of Angels 75<br />
Number of deals made 8<br />
Average amount of the deal 108.000<br />
*249 Submitted to BAN Vlaanderen, and 64 submitted by the network to the investors.<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Special actions to target groups<br />
• Yearly BA “get together” day<br />
• Yearly Angel-Academy<br />
20<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: 100€ - 500€<br />
o Fees charged to business angels: 100€ - 500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 15-20<br />
Success story: n/a<br />
21
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SOLVAY <strong>BUSINESS</strong> <strong>ANGEL</strong>S CONNECT<br />
Contact person Evelyne Heyvaert<br />
Contact details 40, rue Joseph Wybran<br />
B-1070 Bruxelles<br />
T: +32 2 529.58.11<br />
F: +32 2 529 59 22<br />
E: eh@eebic.be<br />
W: www.business-angels-connect.be<br />
Type of network Regional, Region of Brussels and<br />
surroundings<br />
Date of creation August 1998 as Business Angels Connect<br />
Number of Employees 3<br />
Legal status Not-for-profit association<br />
Hosting organisation EEBIC<br />
Funding Sources:<br />
28%<br />
10%<br />
7%<br />
55%<br />
Regional funds<br />
Fees from<br />
Business Angels<br />
Success fee from<br />
business angels<br />
Fees from<br />
entrepreneurs<br />
1999 2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted 40 115 122 173 245 113<br />
Number of Angels 34 35 50<br />
Number of deals made 0 7 3 6 9 5<br />
Average amount of the deal N/a 201.000 80.000 170.000 78.000 93.000<br />
Matching services of the network:<br />
Newsletter or information bulletin<br />
Database of contacts<br />
Meetings (one to one)<br />
Investment forums and fairs<br />
Internet<br />
How are clients acquired?<br />
Event and information fairs<br />
Targeted publicity<br />
Visits to enterprises<br />
Articles in the regional or national press<br />
Cooperation agreements with local banking, financial or fiduciary institutions<br />
Other - Institutional prescriptions<br />
Fees:<br />
o Fees charged to business angels: 325€<br />
o Fees charged to entrepreneurs: 300€<br />
22
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
WABAN<br />
2005<br />
Contact person Alix Housiaux<br />
Contact details Aéropôle - Télécom 2<br />
Rue Clément Ader, 12 - B 260<br />
B-6041 Gosselies<br />
T: +32 71 352 350<br />
F: +32 71 354 115<br />
E: ah@waban-b2a.org<br />
W: www.waban-b2a.org<br />
Type of network Regional network for the Walloon region.<br />
Date of creation 2000<br />
Number of Employees 1<br />
Hosting organisation Groupement d’Intérêt Economique des Centres<br />
Européens d’Entreprise et d’Innovation Wallons<br />
(GIE des CEEI) - Economic grouping of Interest<br />
of the Walloon European Centres of Enterprise<br />
and Innovation (GIE of the CEEI)<br />
Formal partner organisations:<br />
Since mid-2002, WABAN has developed a partnership with the Club B2A called « WABAN –<br />
B2A Nord-Pas-de-Calais ». It is a cross border business angel network covering the cross<br />
border areas of the Walloon Region (B) and the Nord-Pas-de-Calais (F), aiming to contribute<br />
to the development of cross border risk capital, and to foster the creation and development of<br />
innovative projects looking for finance. This network was created following the initiative of both<br />
regions, through two operators, the Economic grouping of Interest of the Walloon European<br />
Centres of Enterprise and Innovation (GIE of the CEEI) and the Regional Chamber of<br />
Commerce and Industry of Nord-Pas-de-Calais.<br />
The network benefits from a financial support from the ERDF, the Walloon Region, the<br />
Economic grouping of Interest of the Walloon European Centres of Enterprise and Innovation<br />
(GIE of the CEEI), the association APARTE, EDF (Electricité de France) and ANVAR (French<br />
Agency for Innovation).<br />
Funding Sources:<br />
20%<br />
40%<br />
40%<br />
Regional funds<br />
European Funds<br />
GIE of CEEI<br />
2003 2004<br />
Number of projects submitted (BP) +/-10 4<br />
Number of Angels 30 29<br />
Number of deals made n/a n/a<br />
Average amount of the deal n/a n/a<br />
23
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs.<br />
o Fees charged to business angels: 100€ - 500€.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: Not published.<br />
Success story: n/a<br />
24
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
EuBAN<br />
2005<br />
EuBAN, the euregional Business Angels network aims to provide a solution to improve the<br />
framework conditions of early-stage SME finance in the EUREGIO Maas-Rhine. Five partners<br />
have joined forces to form the cross-border business angels network:<br />
• Aachen region (AGIT) www.agit.de<br />
• Belgian Limburg (BAN Vlaanderen) www.banvlaanderen.be<br />
• Dutch Limburg (Industriebank LIOF) www.liof.nl<br />
• province of Liège (SOCRAN) www.socran.be<br />
• German-speaking community of Belgium (WFG Ostbelgien) www.wfg.be<br />
The euBAn coordination office is based with AGIT.<br />
Contact person Mirella Feldmann<br />
Contact details c/o AGIT mbH (coordination office)<br />
Technologiezentrum am Europaplatz<br />
52068 Aachen<br />
T: +49 (0) 241 963-1026<br />
F: +49 (0) 241 963-1033<br />
E: m.feldmann@agit.de; info@euban.net<br />
W: www.euban.net<br />
Type of network Regional network, EUREGIO Meuse-<br />
Rhine (Belgium/Germany/Netherlands)<br />
Date of creation 01.01.2004<br />
Number of Employees 1<br />
Hosting organisation AGIT mbH (coordination office) Partners<br />
(see above)<br />
Funding sources:<br />
45%<br />
5%<br />
50%<br />
Regional funds<br />
European Funds<br />
Sponsor: AGIT<br />
*Regional funds:<br />
- 25% Walloon Region (B)<br />
- 12.5% Province of Limburg (NL)<br />
- 7.5% NRW (D)<br />
*European Funds: INTERREG IIIA<br />
*EuBAN foresees to charge fees to business angels in the future.<br />
25
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
2004<br />
Number of projects submitted 24<br />
Number of Angels 17<br />
Number of deals made 0<br />
Average amount of the deal -<br />
In 2004 there have been two business angels who decided to invest in two of the presented<br />
companies, but the deals haven’t been accomplished yet . The BA’s and the companies are<br />
still in negotiation.<br />
Matching services of the network:<br />
• Investment forums and fairs<br />
• Database of contacts<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Giving lectures in regional service clubs<br />
Fees:<br />
o No Fees charged to entrepreneurs<br />
o Fees charged to business angels: 100€ - 500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
26
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CZECH REPUBLIC<br />
2005<br />
Since the fall of communism in the then Czechoslovakia and now The Czech Republic, there<br />
have been several attempts to create an informal marketplace to match private investors and<br />
investee companies.<br />
Although over the past 14 years several transactions which could be classified as Business<br />
Angel deals have been done, there has not been a structured approach which would marry up<br />
the best practices from advanced European and US markets.<br />
The primary problem is the lack of awareness of both the investment process and the<br />
implications for both sides of the equation and without this awareness the deals which will be<br />
taking place are likely to be rather random and haphazard.<br />
BANET is the brainchild of Michael Prokop, an experienced London based Business Angel<br />
who decided to set up a formal Business Angel network in Prague in conjunction with a local<br />
company BID services s.r.o.<br />
The aim is to not only provide a matching service for investors and investees but also to add<br />
value by providing educational backup as a pre requisite to successful matching.<br />
The intention is to carry on with the successful UK experience of Ready4Growth and<br />
Ready2Invest seminars which will provide the necessary awareness to both sides of being<br />
Investment Ready and providing Intelligent Capital.<br />
Therefore, throughout the summer of 2004, over 6000 SMEs are being contacted in a<br />
concerted Direct Mail drive with the intention of selecting the most promising initial deals to be<br />
trained up in September 2004 in Investment Readiness, i.e. the ability to put together a<br />
sensible Business Plan and the skills to make a visual presentation to a group of investees.<br />
The first BANET meeting is planned for November 2004.<br />
2. Statistics<br />
There are no reliable statistics available at the moment as the business angel market is rather<br />
latent and unregulated. However from anecdotal evidence, the number of deals which could<br />
be classified as Business Angel finance (i.e. equity purchase of up to 500 k Euro from<br />
investors who are not related to the investees) is less than 30.<br />
3. BAN Legal Status<br />
At the moment, BANET is a subsidiary of Bid Services s.r.o. and following the first Business<br />
Angel meeting in November 2004 will become a s.r.o. (Limited company)<br />
4. National Association<br />
BANET<br />
5. Lobbying<br />
Lobbying has been carried out by making presentations at various SME conferences in<br />
Prague and Brno, several presentations to the main Venture Capital players and the Ministry<br />
of Trade and Industry, Czechinvest, major commercial banks and Cesko Moravska Zarucni a<br />
Rozvojova Banka (CMZRB). The lobbying has included the attempt to obtain tax breaks for<br />
investors and to provide support for both investors and investees from the Structural Funds<br />
and from the CMZRB in the form of soft loans to match the Angel investment.<br />
27
6. National and Regional Support<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
At the moment there is no support from any external organisation and all the setting up costs<br />
have been borne 100 % by the principals.<br />
7. EU support<br />
To date no support has been received. The Czech Republic acceded only on 1/5/2004<br />
8. Contact<br />
Michael Prokop or Michal Pop<br />
BID services s.r.o<br />
Milicova 20<br />
130 00 Prague 3<br />
Czech Republic<br />
T: +420 222 781 017<br />
F: +420 222 780 147<br />
E: info@bids.cz<br />
W: www.bids.cz<br />
28
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BANET<br />
Contact person Michael Prokop<br />
Contact details BID Services, Milcova 20<br />
130 00 Prague 3<br />
T: +420 222 781 017<br />
F: +420 222 780 147<br />
E: info@bids.cz<br />
W: www.bids.cz<br />
Type of network National network<br />
Date of creation 11 March 2004<br />
Number of Employees 7<br />
Funding Sources:<br />
100%<br />
Founders<br />
2005 M<br />
Mid 2004<br />
Number of projects submitted n/a<br />
Number of Angels n/a<br />
Number of deals made n/a<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
Products:<br />
• Awareness and training sessions for investors and investees<br />
• Creation of database of HNWI and investee prospects from the ranks of local SMEs<br />
• Matching investors and investees<br />
Fees:<br />
o Investors: 150€ per annum to include a synopsis of prospective SMEs and an invitation to<br />
regular investment forums, access to private web pages<br />
o Entrepreneurs: 500€ for the opportunity to present their Business plan to a forum of HNWI<br />
at regular investment forums plus the attendant publicity of their investment proposals.<br />
29
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
30
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>ANGEL</strong> INVESTOR ASSOCIATION<br />
2005<br />
Contact person Joanna Rzesiewska<br />
Contact details Na Prikope 15<br />
110 00<br />
Prague 1<br />
T: +420 272 143 524<br />
F: +420 272 143 516<br />
E: Joanna.rzesiewska@aia.cz<br />
W: www.aia.cz<br />
Type of Network National Network<br />
Date of creation Formally registered on 7 th of January<br />
2005 but existing since January 2004<br />
Number of Employees Only volunteers (board members are not<br />
paid as well as the management team,<br />
which is provided by partner organization)<br />
Legal status Non-profit association<br />
Formal partner organisation Myall Consulting Europe<br />
Funding sources:<br />
100%<br />
Sponsors<br />
2004<br />
Number of Business Angels 5<br />
Number of projects 10<br />
Number of deals made 3<br />
Average amount of the deal N/a<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other- through the network of partners<br />
Fees:<br />
• No fees charged to entrepreneurs<br />
• Less than 100€ charged to business angels<br />
31<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
32
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
RAAL<br />
Contact person Jiří Janák<br />
Contact details<br />
tr. Gen. Píky 9<br />
613 00 Brno<br />
T: + 420 545 223 982<br />
F: + 420 545 223 989<br />
E: info@investori.cz<br />
jiri.janak@investori.cz<br />
Website www.investori.cz<br />
Date of creation 1997<br />
Number of employees 4<br />
Type of network n/a<br />
Legal status of the BAN GmbH / Ltd.<br />
Funding sources:<br />
5%<br />
95%<br />
Fees from<br />
Business Angels<br />
Fees from<br />
entrepreneurs<br />
2005<br />
2000 2001 2002 2003 2004<br />
Number of Business Angels 2 2 3 3 4<br />
Number of projects 8 12 16 10 18<br />
Number of deals made 1 2 2 2 3<br />
Average amount of the deal 50.000 50.000 60.000 4.000.000 75.000<br />
20<br />
15<br />
10<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
5<br />
0<br />
2000 2001 2002 2003 2004<br />
33<br />
Angels<br />
Projects<br />
Deals<br />
M
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to business angels: 100€-500€<br />
o Fees charged to entrepreneurs: 100€-500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
34
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
DENMARK<br />
2005<br />
In 1999, the Danish Government conducted a survey on the feasibility of creating a network for<br />
private individual investors in Denmark.<br />
The survey revealed that there was a need for creating meeting points, which could bring<br />
private investors and innovative and investment seeking entrepreneurs together. The survey<br />
also showed that the meeting points were better off being placed in decentralised areas and<br />
locally in close co-operation between the investors and investment seeking firms. On the other<br />
hand it also came clear that a centrally located organisation was needed in order to coordinate<br />
the co-operation and contact among the local meeting points. The Danish state<br />
therefore decided to finance the creation of a Danish Business Angel Network with 673.000<br />
Euro for a period of 3 years (2000-2002) and Euro 640.000 for the period 2003 – 2005. DBAN<br />
became a part of the DVCA in Spring 2004, the Danish Venture Capital Association,<br />
www.dvca.dk<br />
The Danish Venture Capital Association (DVCA) was established in 2000 by a group of people<br />
interested in innovation, entrepreneurship and private equity funding. Today DVCA has about<br />
60 member companies representing venture capital as well as a number of related<br />
professions.<br />
In 2004, 94 business angels joined the association.<br />
2. Statistics<br />
2000 2001 2002 2003 2004<br />
Number of BANs 1 4 6 8 8(+2) 2<br />
Number of Business Angels 10 30 65 200 94<br />
Number of deals 0 1 8 60 n/a<br />
Number of accredited projects 1 25 65 60 160<br />
Number of commercial BANs 0 0 0 0 0<br />
Number of non-commercial BANs 1 4 6 7 8<br />
Number of national BANs 1 1 1 1 1<br />
Number of regional BANs 0 3 5 6 7<br />
National association 1 1 1 1 1<br />
3. BAN legal status<br />
All the networks set up in Denmark now by the DVCA (previously by DBAN) are private<br />
entities public funded.<br />
4. National association<br />
DVCA acts as the national association.<br />
Contact person:<br />
Peter Much-Kofoed<br />
Borsen – 217 Copenhagen<br />
T: +45 72 25 56 21<br />
E: pmk@dvca.dk, W: www.dvca.dk<br />
2 DVCA will establish two sectoral networks around Autumn 2004: AgroBAN and CreativeBAN.<br />
35<br />
M
5. Lobbying<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
As a branch organisation, an important issue for DVCA is lobbying towards the political system<br />
in order to improve the conditions for start-up companies, business angels and venture capital.<br />
In 2003 DVCA handed in 10 new proposals to improve market conditions. 5 proposals have<br />
been accepted by the Danish Government.<br />
6. Dissemination of the BAN concept<br />
DVCA has had several articles in the national press as well as presentations and road shows.<br />
7. EU support<br />
None.<br />
8. EBAN members<br />
DVCA<br />
36
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FINLAND<br />
2005<br />
BA activities Finland emerged as organised structures in 1996 under the leadership of SITRA,<br />
a formal seed and venture capital fund. SITRA is a nation wide organisation. For the first 5<br />
years the activity was more based on the private activities of BAs on a database basis. The<br />
concept was restructured in 2001: the new concept of pre-seed finance was launched in May<br />
2001, including two major instruments: LIKSA and INTRO. LIKSA is a programme for<br />
professional completion of business plans, arranged by SITRA and Tekes. INTRO is a<br />
marketplace for business angels and other venture capitalists to meet technology companies<br />
in the start-up or restructuring phase. This well functioning platform has shown, that far too<br />
many investments fail due to start-ups’ lack of marketing & sales professionalism. As an<br />
answer to this, since the beginning of this year, INTRO also offers a channel (DIILI) for<br />
marketing & sales professionals to look for a new ‘entrepreneurial’ career in companies<br />
presented at the INTRO marketplace.<br />
2. Statistics<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004 Mid<br />
2005<br />
Number of BANs (1) (1) (1) (1) (1) (1) 1 1 1 1<br />
Number<br />
Angels<br />
of Business<br />
- 90 207 253 284<br />
Number of deals - 12 10 12 7<br />
Number<br />
projects<br />
of accredited<br />
- 35 52 41 21<br />
Number of commercial<br />
- 1 0 0 0<br />
BANs<br />
Number of national BANs - 0 0 0 0<br />
Number of regional BANs - - - - -<br />
National association - 1 1 1 1<br />
(1)During the period 1997-2001, the BA activities of SITRA can be presented as follows:<br />
• BA: between 60 and 150<br />
• n. of deals: between 8 and 12 per year<br />
• n. of accredited projects: between 60 and 100<br />
3. BAN legal status<br />
INTRO is an initiative started by SITRA, involved in private investors’ venture capital activities,<br />
with a clear vision to empower public/private partnerships.<br />
4. EBAN members<br />
SITRA<br />
37
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SITRA<br />
Finnish National Fund for Research and Development<br />
2005 M<br />
Contact person Tuula LAITINEN<br />
Contact details Itämerentori 2<br />
FI-00180 Helsinki<br />
Finland<br />
T: +358 9 6189-9429 / +358 9 618 991<br />
F: +358 9 6189 9277<br />
E: tuula.laitinen@sitra.fi<br />
W: www.sitra.fi/preseed<br />
Type of Network National network<br />
Date of creation 2001 (Initial start 1996 as Sitra Matchingservice)<br />
Number of Employees 7<br />
Legal status Part of SITRA<br />
Hosting organisation SITRA<br />
Formal partner organisations TEKES, National Technology Agency, for<br />
LIKSA programme (development of<br />
professional business plans).<br />
Funding sources:<br />
Number of<br />
projects<br />
submitted<br />
Number of<br />
Business angels<br />
Number of deals<br />
made<br />
100%<br />
Public/National<br />
Funds<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004 Mid<br />
2005<br />
20 60 80 100 100<br />
35 52 41 21<br />
Reorganisation<br />
20 60 80 130 140 of 90 207 253 284<br />
2 8 8 10 12 activities 12 10 12 7<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
1996<br />
1998<br />
2000<br />
2002<br />
38<br />
2004<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching services of the network:<br />
• Internet Presentations<br />
• Bulletin / Newsletter (both printed and email)<br />
• Investment Forums<br />
• Personal introduction (on a one to one or one to group basis)<br />
• Investment clubs<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Direct mailings<br />
• Visits to enterprises<br />
• Articles in the local / national Press<br />
• Established co-operation with local institutional investors<br />
Fees:<br />
No fees charged to business angels or entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
39
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FRANCE<br />
2005<br />
The first associative network, named Léonardo, was set up at the beginning of nineties.<br />
A private BAN was set up by IPEN Financial Consultants in 1998 under the name<br />
Businessangels.com. The first local network (non-profit) initiative in this field was taken by an<br />
association of young entrepreneurs called Club Essor 92, and by André Jaunay in Hauts de<br />
Seine in 1998, under the name of Invest’Essor.<br />
2. Statistics<br />
1997 1998 1999 2000 2001 2002 2003 Mid Mid<br />
2004 2005<br />
Number of BANs 1 3 4 13 32 - 48(35) 3<br />
40 38<br />
Number<br />
Angels<br />
of Business n/a n/a n/a n/a n/a n/a n/a n/a n/a<br />
Number of deals 0 0 1 n/a n/a n/a n/a n/a n/a<br />
Number<br />
projects<br />
of accredited n/a n/a n/a n/a n/a n/a n/a n/a n/a<br />
Number<br />
BANs<br />
of commercial 1 2 3 4 5-10 5-10 n/a n/a n/a<br />
Number of non-commercial<br />
BANs<br />
0 0 1 5 16 18 n/a n/a n/a<br />
Number of national BANs 1 2 3 3 n/a n/a n/a n/a n/a<br />
Number of regional BANs 0 1 1 1 n/a n/a n/a n/a n/a<br />
National association 0 0 0 0 1 1 1 1 1<br />
3. BAN legal status<br />
In France, private and associative BANs coexist. Also notable in this country is that, for tax<br />
purposes, a number of private investors have created investment companies that manage<br />
their personal stakes in start-ups.<br />
In France, several local saving mobilisation instruments (such as loans without interest and/or<br />
guarantee and Love Money) are to a certain extent comparable to Business Angel activities,<br />
even though they do not share the exact same characteristics.<br />
In 2003/2004, a new legal framework was adopted in order to support entrepreneurship. Part<br />
of the legislation concerns the fiscal environment of investment made by private individuals in<br />
start-up enterprises: the tax deduction system was improved and a new type of investment<br />
company with fiscal advantages (SUIR: Société Unipersonnelle d’Investissement à Risque)<br />
was created.<br />
4. National association<br />
FRANCE <strong>ANGEL</strong>S, the national association of local BANs that was created in April 2001, tries<br />
to highly increase the number of business angels in France in order to stimulate<br />
entrepreneurship in France.<br />
3<br />
48 organisations claimed to be networks, while France Angels evaluated the real number of networks<br />
around 35.<br />
40
5. Contact<br />
Contact person: FRITZ Nicolas<br />
16, Rue de Turbigo<br />
75002 Paris<br />
T: 33 1 44 82 77 77<br />
F: 33 1 44 82 77 76<br />
E: contact@franceangels.org<br />
W: www.franceangels.org<br />
6. Funding sources (2004):<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
30%<br />
2%<br />
68%<br />
Sponsors<br />
Conference &<br />
trainings programs<br />
Fees from business<br />
angels and<br />
entreprises<br />
Sponsors: CDC (Groupe Caisse des Dépôts), DECAS et DIGITIP (Ministry of Economy,<br />
Finance & Industry), Ministry for Research and new Technologies, Salmon Foundation,<br />
ANVAR (French Agency for Innovation), APCE (Agency for Enterprise Creation).<br />
7. Lobbying<br />
The national network has established contacts with the relevant Ministries in order to discuss<br />
BA and BAN status, to improve legislation and to promote the BA concept.<br />
8. Dissemination of the BAN concept<br />
France Angels provides tools to BANs (website, information centre, guide…).<br />
France Angels has created the concept of “business angels school” in order to set up or to<br />
develop business angel networks, by informing and training business angels. 14 schools were<br />
organised in 2003.<br />
France Angels has also created a special 4 days training program for people who are<br />
interested in setting up BANs or who want to have a better understand and to work with<br />
business angels (1 or 2 seminars organised per year).<br />
9. EU support<br />
In France, EU support has included:<br />
� Awareness actions<br />
Three awareness seminars were held. The first one was organised by CEBANOR (Regional<br />
Development Agency of Basse-Normandie), the second one by the Metz BIC and the third one<br />
by ADEM in Martinique.<br />
41
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Professional Network, a private firm (since re-named IPEN) received support from<br />
DG Enterprise to consolidate and develop its activities in the field of Business Angels. Other<br />
organisations having received EU subsidies include:<br />
- Bordeaux Technovest<br />
- Club B2A Alsace<br />
- Proxicap Invest<br />
9. EBAN members<br />
France Angels<br />
Femmes Business Angels<br />
***********************************************************************************************************<br />
Below is the list of networks operating in France in Mid-2005. More detailed information is<br />
available on the website of the French Federation of Networks www.franceangels.org<br />
Consolidated data: Information received from 24 networks (38 in operation in Mid 2005)<br />
Number of members (business angels): 1375<br />
Number of projects received: 3963<br />
Number of projects presented to investors: 659<br />
Number of projects financed (deals): 128<br />
Total investment for the period (Thousand euros)over the last 12 months: 11.729.000€<br />
Average amount of the investment:: 92.000€<br />
Anjou Amorçage<br />
Jeanneau Olivier<br />
CCI d'Angers 8 Boulevard du Roi René BP 626 49006 Angers<br />
T: +33 241205420<br />
F: 0241205414<br />
E : olivier.jeanneau@angers.cci.fr<br />
W: www.angers.cci.fr<br />
Arcange<br />
Francis Fallu<br />
T: +33 6 07530764<br />
E: ffallu@wanadoo.fr<br />
Legal form: association<br />
Number of members: 25<br />
Atlantic Emergence<br />
Blot Henri<br />
16 quai Ernest Renaud 44000 Nantes<br />
T: +33 240446223<br />
F: +33 240446223<br />
E: crivipy@wanadoo.fr<br />
42
Aube Investissement<br />
Dieudonné François<br />
Technopole de l'Aube 10430 Rosières<br />
T: +33 325752776<br />
E: contact@aube-investissement.com<br />
Number of members: 7<br />
Aurinvest<br />
Demont Michel<br />
11bis rue Portalis 75008 Paris<br />
T: +33 144907320<br />
F: +33 144907324<br />
E: contact@aurinvest.com<br />
W: www.aurinvest.com<br />
Bourgogne Angels<br />
Winter Philippe<br />
30A cours du Parc 21000 Dijon<br />
T: +33 380678922<br />
F: +33 380678922<br />
E: philippewinter@wanadoo.fr<br />
W: www.bourgogneangels.org<br />
Date of creation: April 2004<br />
Legal form: Not for profit association<br />
Number of members: 29<br />
Chevaliers d'entreprise<br />
Delabie Hervé<br />
T: +33 232321289<br />
E: capfinance@wanadoo.fr<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Club B2A Nord Pas de Calais<br />
Guillain Bruno<br />
2 Palais de la Bourse BP 500 59001 Lille Cedex<br />
T: +33 320637972<br />
F: +33 320130200<br />
E: bruno.guillain@nordpasdecalais.cci.fr<br />
Club Capitaux et Compétences (Club 3C)<br />
Mader Georges<br />
CRCI Midi-Pyrénées 5, rue Dieudonné Costes BP 32 31701 Blagnac<br />
T: +33 5 62 74 20 37<br />
F: +33 5 62 74 20 20<br />
E: mader@midi-pyrenees.cci.fr<br />
W: www.midi-pyrenees.cci.fr<br />
43
Club Invest 77<br />
Huet Martine<br />
14 avenue de Saria 77700 Serris<br />
T: +33 164634343<br />
F: +33 160439035<br />
E: clubinvest77@chez.com<br />
W: www.chez.com/clubinvest77<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Date of creation: July 2000<br />
Legal form: Association (July 2000) and Risk Capital Company (November 2004)<br />
Number of members: 28<br />
Coach Invest<br />
Legrain Thomas<br />
49 rue de Lourmel 75015 Paris<br />
E: infos@coachinvest.com<br />
W: www.coachinvest.com<br />
Dilen SA<br />
Zumino Daniel<br />
5 Allée de la Terrasse 92190 Meudon<br />
T: +33 146267839<br />
E: zumino@easyconnect.fr<br />
Fa Dièse<br />
De Baillenx Isabelle<br />
12 cours Xavier Arnozan 33000 Bordeaux<br />
T: +33 556440407<br />
F: +33 556793311<br />
E: projet@fadiese.fr<br />
W: www.fadiese.fr<br />
Legal form: Public Limited Company and Risk Capital Company (2002)<br />
Number of Members: 17<br />
Femmes Business Angels<br />
Jauffrineau Béatrice<br />
9 rue Fondary 75015 Paris<br />
T: +33 680577317<br />
E: femmesbusinessangels@club-internet.fr<br />
W: www.femmesbusinessangels.com<br />
Date of creation: May 16 th 2003<br />
Legal form: Not for profit association<br />
Number of members: 32<br />
44
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Finance et Technologie<br />
Devaivre Frédéric<br />
2 route de la Noué BP 76 91190 Gif-sur-Yvette Cedex<br />
T: +33 164865838<br />
F: +33 164865860<br />
E: info@finance-technologie.com<br />
W: www.finance-technologie.com<br />
Date of creation: 1999<br />
Legal form: Not for profit association<br />
Number of members: 50<br />
Flamingo Ventures<br />
Lavigne Eric<br />
1095 rue Henri Becquerel 34000 Montpellier<br />
T: +33 467697456<br />
F: +33 467697469<br />
E: contact@flamingo-ventures.com<br />
W: www.flamingo-ventures.com<br />
Grenoble Angels<br />
Brunet Jean-Louis<br />
CCI de Grenoble Place André Malraux 38016 Grenoble<br />
T : +33 476282926<br />
E: JlouBrunet@aol.com<br />
GSO Investissement<br />
Balandrau Gérald<br />
C/o Datus Sud Ouest Le Stratège BP 37/06 31312 Labège Cedex<br />
T: +33 607518501<br />
E: gerald.balandrau@wanadoo.fr<br />
Legal form: Public Limited Company + Risk Capital Company (2002)<br />
Number of members: 50<br />
Invest Y<br />
Meurin Janine<br />
25 rue du Maréchal Foch 78000 Versailles<br />
T: +33 139027575<br />
E: ecrire@clubdescreateurs.com<br />
W: www.invest-y.com<br />
Date of creation: 2001<br />
Legal form: Creators Club + Risk Capital Company HEDERA<br />
Number of members: 55<br />
45
Invest 95<br />
Farrache Jean Lucien<br />
21 rue Héloise 95160 Montmorency<br />
T: +33 139780448<br />
F: +33 139789079<br />
E: jlfarrache@jlfa.com<br />
Date of creation: 2000<br />
Legal form: Association<br />
Number of members: 60<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Investessor and « Essor 92 »<br />
Boulot Claude<br />
123 Avenue Salvador Allende 92000 Nanterre<br />
T: +33 149670033<br />
F: +33 149671032<br />
E: contact@investessor.fr<br />
W: www.investessor.fr<br />
Date of creation: 1998<br />
Legal form: 2 Not for Profit Associations<br />
Number of members: 125<br />
Irus Partenaires<br />
De Champsavin Henri<br />
8 rue de Gorges BP 79035 44090 Nantes Cedex 1<br />
T: +33 240356942<br />
F: +33 251720207<br />
E : contact@irusinvest.com<br />
W: www.irus-partenaires.com<br />
Date of creation: 2002<br />
Legal form: Limited Company + Risk Capital Company<br />
Number of members: 29<br />
Leonardo<br />
Delacour Yves<br />
58 avenue d'Iena 75116 Paris<br />
T: +33 147202488<br />
F: +33 149520101<br />
E: contact@leonardofinance.fr<br />
Legal form: Association + Leonardo Finance<br />
Number of members: 250<br />
Loire Angels<br />
Perrin Yves<br />
13 Place de l'hôtel de ville 42000 Saint Etienne<br />
T: +33 477484403<br />
E: yp@investifinance.com<br />
46
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Lorraine Business Angels (LBA)<br />
Ouarnier Boris<br />
CEEI Synergie 13 rue Claude Chappe 57070 Metz Technopôle<br />
T: +33 0387763636<br />
F: +33 387762303<br />
E: bouarnier@synergie-ceei.com<br />
W: www.lorraine-ba.com<br />
Date of creation: February 2005<br />
Legal form: Not for profit association<br />
Number of members: 18<br />
Lyon Angels<br />
Arrivé Agnès<br />
40 avenue Guy de Collongue 69130 Ecully<br />
T: +33 472408172<br />
F: +33 472405921<br />
E: arrive@lyon.cci.fr<br />
W: www.lyonangels.org<br />
Date of creation: April 2004<br />
Legal form: Not for profit association<br />
Number of members: 35<br />
Mar-Tech & Finance<br />
Chevalier Thierry<br />
Centre nautique Paris Boulogne Face au 33/36 quai Alphonse le Gallo 92100 Boulogne<br />
Billancourt<br />
T: +33 141316262<br />
F : +33 141310964<br />
E: t.chevalier@martech.fr<br />
W: www.capital-it.com<br />
Date of creation: 1997<br />
Legal form: Association<br />
Number of members: 350<br />
Mediterranée Investissements<br />
Baujard Hervé<br />
06000 Nice<br />
T: +33 618653436<br />
E: contact@mediterranee-investissements.com<br />
W: www.mediterranee-investissements.com<br />
Date of creation: December 2004<br />
Legal form: Association<br />
Number of members: 25<br />
47
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Norm'Invest<br />
Reynaud Gérard<br />
Chemin de l'ancien Presbytère 14600 Gonneville sur Honfleur<br />
T: +33 231890593<br />
F: +33 231899974<br />
E: norminvest@wanadoo.fr<br />
Date of creation: June 2003, re-launched December 2004<br />
Legal form: Not for profit association<br />
Number of members: 25<br />
Octave<br />
Le Jossec Bruno<br />
56100 Lorient<br />
T: +33 297882251<br />
Date of creation: 2004<br />
Legal form: Non-stock corporation<br />
Number of members: 8<br />
Paris Business Angels<br />
de Maleprade Cyril<br />
16 rue de Turbigo 75002 Paris<br />
T: +33 144827773<br />
E: contact@parisbusinessangels.com<br />
W: www.parisbusinessangels.com<br />
Date of creation: July 2003<br />
Legal form: association<br />
Number of members: 35<br />
Sophia Business Angels Club<br />
Da Fonseca Edgardo<br />
Place Sophie Laffitte BP 127 06904 Sophia Antipolis<br />
T: +33 671171724<br />
E: dluciano@free.fr<br />
W: www.sophiabusinessangels.com<br />
Date of creation: 2003<br />
Legal form: Not-for-profit association<br />
Number of members: 32<br />
Start Me Up<br />
Malaise Cédric<br />
69000 Lyon<br />
T: +33 472003382<br />
F: +33 472003381<br />
E: cedric.malaise@s-m-u.net<br />
W: www.s-m-u.net<br />
Date of creation: 2000<br />
Legal form: Public Limited Company<br />
Number of members: 15<br />
48
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Symbiose 53<br />
Thomas Marcel<br />
Laval Développement BP 1405 53014 Laval Cedex<br />
T: +33 243498600<br />
F: +33 243498608<br />
E: marcel.thomas@laval-developpement.asso.fr<br />
Synergence<br />
Treny Jean-Pierre<br />
7, rampe du Secours 16000 Angoulême<br />
T: +33 545673600<br />
E: synergence@interpc.fr<br />
XMP Business Angels<br />
Cherruau François<br />
École Polytechnique 91128 Palaiseau<br />
E: francois.cherruau@polytechnique.org<br />
W: www.xmp-ba.polytechnique.org<br />
Date of creation: December 2004<br />
Legal form: Association<br />
Number of members: 45<br />
49
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CLUB 3C<br />
Contact person George Mader<br />
Contact details CRCI Midi-Pyrénées<br />
5 Rue Dieudonné Costes BP 32<br />
31701 Blagnac Cedex<br />
T: +33 5 62 74 20 37<br />
F: +33 5 62 74 20 20<br />
E: mader@midi-pyrenees.cci.fr<br />
W: www.midi-pyrenees.cci.fr<br />
Type of Network Regional – Midi-Pyrénées<br />
Date of creation 2002<br />
Employees 1<br />
Legal status Club<br />
Funding sources:<br />
n/a<br />
2002 2003 Mid 2004<br />
Number of projects submitted 12 18 18<br />
Number of angels 5 11 12<br />
Number of deals made 2 4 3<br />
Average amount of the deal: between 80.000€ and 150.000€<br />
Matching services of the network:<br />
• Meetings / Binomial Meetings<br />
• Investment clubs<br />
How are clients acquired?<br />
• Visits to enterprises<br />
• Articles in the local / national Press<br />
Fees:<br />
o No fees charged to Business Angels or entrepreneurs.<br />
50
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CLUB B2A NORD PAS DE CALAIS<br />
Contact person Bruno Guillain<br />
Contact details 2 Palais de la Bourse<br />
59000 Lille<br />
T: +33 3 20 63 79 72<br />
F: +33 3 20 55 14 67<br />
E: bg@waban-b2a.org<br />
W: www.waban-b2a.org<br />
Type of Network Regional, Nord-Pas-de-Calais<br />
Date of creation 2002<br />
Number of employees 1<br />
Legal status n/a<br />
Hosting organisation CRCI Nord-Pas-de-Calais<br />
Funding Sources:<br />
50%<br />
10%<br />
40%<br />
European Funding<br />
Regional funds<br />
Sponsors: EDF, Aparte<br />
2003 Mid-2004<br />
Number of projects submitted 5 5<br />
Number of angels 10 20<br />
Number of deals made n/a n/a<br />
Average Amount of the deal 100.000€ N/a<br />
Matching services of the network:<br />
• Investment Forums<br />
• Meetings / Binomial Meetings<br />
• Internet<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in the local / national Press<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: 100€ - 500€<br />
51
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
COACH INVEST<br />
Contact person Thomas Legrain<br />
Contact details 49 Rue de Lourmel<br />
75015 Paris<br />
T: +33 892 35 00 85<br />
F : +33 1 45 75 60 53<br />
E : info@coachinvest.com<br />
W: www.coachinvest.com<br />
Type of network National<br />
Date of creation April 2000<br />
Number of Employees 3<br />
Legal status: SA<br />
Funding Sources:<br />
100%<br />
Investment in<br />
the Coach<br />
Invest SA<br />
2000 2001 2002 2003 Mi-2004<br />
Number of projects submitted 2000 2000 1000 1000 300<br />
Number of Angels 30 54 54 50 50<br />
Number of deals made 10 10 6 4 3<br />
Average amount of the deal: 30.000€ in seed phase<br />
150.000€ in leverage buy-out phase<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings / Binomial Meetings<br />
• Investment Clubs<br />
• Internet<br />
How are clients acquired?<br />
• Newsletters<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs or business angels.<br />
52
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FINANCE ET TECHNOLOGIE<br />
Contact person Frédéric Devaivre<br />
Contact details 2 Route de la Noué BP 76<br />
91193 Gif-sur-Yvette Cedex<br />
T: +33 1 64 86 58 38<br />
F: +33 1 69 28 84 89<br />
E: contact@finance-technologie.com<br />
W: www.finance-technologie.com<br />
Date of creation January 1999<br />
Number of employees 3<br />
Type of network National with regional perspectives.<br />
Funding sources:<br />
15%<br />
5%<br />
10%<br />
35%<br />
35%<br />
Regional funds<br />
National funds<br />
Fees from Business<br />
Angels<br />
Others<br />
Fees from<br />
entrepreneurs<br />
1998 1999 2000 2001 2002 2003 Mi-2004<br />
Number of projects submitted 5 12 83 81 80 80 30<br />
Number of angels 10 50 70 85 100 105 105<br />
Number of deals made 3 12 20% 20% 20% 12% 16%<br />
Average amount of the deal: 150.000€ for NTIC to 1million€ for biotechnologies.<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings / binomial meetings<br />
• Investor Clubs<br />
• Investment forum/Fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: Administrative fee: 50€, event 100€<br />
53
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FLAMINGO VENTURES<br />
Contact person Eric Lavigne<br />
Contact details 1095 Rue Henri Becquerel<br />
34000 Montpellier<br />
T: +33 4 67 69 74 56<br />
F: +33 4 67 69 74 69<br />
E: contact@flamingo-ventures.com<br />
W: www.flamingo-ventures.com<br />
Type of Network Regional: Languedoc Roussillon<br />
Date of creation 2000<br />
Number of employees 1<br />
Legal status Risk Capital Company (Société de<br />
Capital Risque)<br />
Funding Sources:<br />
100%<br />
Private Funding<br />
2001 2002 2003 Mi-2004<br />
Number of projects submitted 20 15 10 8<br />
Number of angels 6 6 6 6<br />
Number of deals made 1 1 0 1<br />
Average amount of the deal: 50.000€<br />
Matching services of the network:<br />
• Meetings / Binomial Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs and business angels<br />
54
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
INVEST Y<br />
Contact person Janine Meurin<br />
Contact details 25 Avenue du Maréchal Foch<br />
78000 Versailles<br />
T: +33 1 93 02 75 75<br />
E: ecrire@clubdescreateurs.com<br />
W: www.invest-y.com<br />
Date of creation June 2000<br />
Number of employees 0. 10 very active volunteers<br />
Type of network Regional, West, Ile de France<br />
Legal status None<br />
Hosting Organisation Club des Créateurs d’Entreprises and<br />
creation of a Risk Capital Company, to<br />
gather BA, HEDERA SAS<br />
Partner organisations Ile de France Region, Caisse d’Epargne<br />
Ile de France Ouest<br />
Funding sources:<br />
10%<br />
30%<br />
10%<br />
50%<br />
Regional funds<br />
Fees from Business<br />
Angels<br />
Forum, conferences…<br />
Fees from<br />
entrepreneurs<br />
2000 2001 2002 2003 Mi-2004<br />
Number of projects submitted 7 14 9 12 4<br />
Number of angels 2 5 8 15 20<br />
Number of deals made 1 3 1 4 2<br />
Average amount of the deal: 10.000-40.000€ per business angel and per deal.<br />
From now on, business angels can also indirectly invest through the new system of Risk<br />
Capital Company HEDERA of which they buy shares. HEDERA invests between 25.000€ and<br />
75.000€.<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Investor Clubs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
No fees charged. 180€ membership fee to the club. Enterprises pay once an additional fee of<br />
270€.<br />
55
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
IRUS PARTENAIRES<br />
Contact person Henry de Champsavin<br />
Contact details 8 Rue de Gorges BP 79035<br />
44 090 Nantes Cedex<br />
T: +33 2 40 35 69 42<br />
F: +33 2 51 72 02 07<br />
E: contact@irusinvest.com<br />
W: www.irus-partneraires.com<br />
Type of network Regional: Grand Ouest France<br />
Date of creation April 2002<br />
Number of Employees 0<br />
Legal status: Risk Capital Company (SA de Capital<br />
risque)<br />
Funding Sources:<br />
100%<br />
Shareholders<br />
(30 private<br />
individuals)<br />
2002 2003 Mi-2004<br />
Number of projects submitted 2 3 2<br />
Number of Angels 5 5 5<br />
Number of deals made 2 3 2<br />
Average amount of the deal: 120.000€ since the creation of the BAN. Low: 40.000€; High:<br />
180.000€.<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings / Binomial Meetings<br />
• Investment Clubs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o No fees charged to entrepreneurs and business angels<br />
56
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
LORRAINE <strong>BUSINESS</strong> <strong>ANGEL</strong>S (LBA)<br />
Contact person Boris Ouarnier<br />
Contact details 13 Rue Claude Chappe<br />
57070 Metz Technopôle<br />
T: +33 3 87 76 36 36<br />
F: +33 3 87 76 23 03<br />
E: bouarnier@synergie-ceei.com<br />
W: www.lorraine-ba.com<br />
Type of network Regional: Lorraine<br />
Date of creation 2003<br />
Number of Employees 1,2 ETP<br />
Legal status: Association<br />
Hosting organisation CEEI Synergie<br />
Funding Sources:<br />
32%<br />
4%<br />
32%<br />
32%<br />
European funds<br />
National funds<br />
Regional funds<br />
Fees from<br />
business angels<br />
2003 Mi-2004<br />
Number of projects submitted 7 16<br />
Number of Angels 10 15<br />
Number of deals made 1 0<br />
Projects presented look for 80.000€ to 100.000€ on average.<br />
Offers vary from 60.000€ to 80.000€ on average.<br />
Matching services of the network:<br />
• Meetings / Binomial Meetings<br />
• Investment Clubs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: 100€ - 500€<br />
57
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MAR-TECH FINANCE<br />
Contact person Thierry Chevalier<br />
Contact details Centre Nautique Paris Boulogne Face au<br />
Quai 33/36 Alphonse le Gallo<br />
92100 Boulogne Billancourt<br />
T: +33 1 41 31 62 62<br />
F: +33 1 41 31 09 64<br />
E: t.chevalier@martech.fr<br />
Type of network National<br />
Date of creation November 1998<br />
Number of Employees 8<br />
Legal status: n/a<br />
Hosting organisation www.capital-IT.com<br />
Partner organisations www.ivcs.org<br />
Funding Sources:<br />
n/a<br />
The network does not receive any subsidies, but several public partners have paid for the<br />
expenses of certain companies participating in events, under certain criteria of selection.<br />
1999 2000 2001 2002 2003 Mi-2004<br />
Number of projects submitted 80 80 80 80 80 40<br />
Number of Angels n/a n/a n/a n/a n/a n/a<br />
Number of deals made n/a n/a n/a n/a n/a n/a<br />
Average amount of the deal - - - - - -*<br />
*Approximately 3 Million € in the last 12 months<br />
This network is concerned with the development of IT and Bio companies under 3 aspects -<br />
Financing of the companies already created<br />
- Development of the visibility of the these companies<br />
- Development of the business of these companies through the installation of these<br />
companies.<br />
The public made of is venture capitalists and professional business angels<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings / binomial meetings<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletters<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
58
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: 600€ if under 2 years old;<br />
800€ if more than 2 years old.<br />
o Fees charged to business angels: 600€.<br />
59
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
RESEAU FEMMES <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
2005<br />
Contact person Béatrice Jauffrineau<br />
Contact details<br />
9 Rue Fondary<br />
75015 Paris<br />
T: +33 1 45 75 49 09 / 06 80 57 73 17<br />
F: 33 1 45 77 99 82<br />
E: femmesbusinessangels@clubinternet.fr<br />
W: www.femmesbusinessangels.org<br />
May 16 th Date of creation<br />
2003<br />
Activity start January 2004<br />
Number of employees<br />
0.5<br />
Type of network<br />
Regional, Ile de France<br />
Legal Status<br />
Association loi 1901, not-for-profit<br />
Hosting organisation<br />
France Angels<br />
Partner organisation<br />
Conseil Régional d’ Ile de France<br />
Funding sources:<br />
15%<br />
5%<br />
80%<br />
Regional funds<br />
Fees from<br />
Business Angels<br />
Fees from<br />
entrepreneurs<br />
2003 2004 Mid-2005<br />
Number of projects submitted 2 33 18<br />
Number of angels 2 20 30<br />
Number of deals made - 5 3<br />
Average amount of the deal 20.000€ N/a<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings / binomial meetings<br />
• Investor club<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Articles in the regional or national press<br />
• Alumni associations<br />
Fees:<br />
o Fees charged to entrepreneurs: 30€<br />
o Fees charged to business angels: 150€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 11<br />
Success stories: Canicrèche (nusery for dogs), Stelae (software editor).<br />
60<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SOPHIA <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
Contact person Edgardo La Fonseca<br />
Contact details Place Sophie Lafitte BP 127<br />
06904 Sophia Antipolis<br />
T: +33 6 71 17 17 24<br />
E: dluciano@free.fr<br />
W: www.sophiabusinessangels.com<br />
Type of network<br />
Regional, Sophia Antipolis, PACA -<br />
Région Provence-Alpes-Côte d'Azur<br />
Date of creation<br />
July 2002<br />
Number of Employees<br />
1 part time in the administration<br />
Legal status<br />
Not-for-profit association<br />
Funding Sources:<br />
100%<br />
Fees from<br />
business angels<br />
2002 2003 Mid 2004<br />
Number of projects submitted 10 30 30<br />
Number of Angels 10 20 25<br />
Number of deals made 0 1 3<br />
Average amount of the deal* n/a n/a n/a<br />
*Around 100.000€-200.000€ for the first round.<br />
Matching services of the network:<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o Annual membership fee: 500€<br />
61
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SYMBIOSE 53<br />
Contact person Marcel Thomas<br />
Contact details<br />
Laval Développement BP 1405<br />
53014 Laval Cedex<br />
T: +33 2 43 49 86 00<br />
F: +33 2 43 49 86 08<br />
E: marcel.thomas@laval-developpement.asso.fr<br />
Type of network<br />
Regional – Mayenne<br />
Date of creation<br />
17 July 1998<br />
Number of Employees<br />
0<br />
Legal status<br />
Informal Club – no juridical status<br />
Hosting organisation<br />
Laval-Développement – Economic Development<br />
Agency for the Lavalloise agglomeration<br />
Funding Sources:<br />
• Regional subsidies: space of the network operations.<br />
1999 2000 2001 2002 2003 Mi-2004<br />
Number of projects submitted n/a 3 7 5 5 6<br />
Number of Angels 30 30 35 35 35 35<br />
Number of deals made n/a 1 3 1 0 1<br />
Average amount of the deal: 40.000€ to 86.000€.<br />
Matching services of the network:<br />
• Meetings / binomial meetings<br />
• Investment Clubs<br />
• Internet<br />
How are clients acquired?<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Technology Park network, enterprise prospecting<br />
Fees:<br />
o No fees charged to business angels or entrepreneurs<br />
62
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
GERMANY<br />
The first German BAN was set up in 1998. The same year also saw the creation of BAND, a<br />
national organisation whose objective is to raise awareness about the importance of regional<br />
BANs as factors of the emergence of a new entrepreneurial culture. BAND is sponsored by the<br />
Federal Ministry for Economics and Labour and by leading state agencies as well as by bodies<br />
from the financial sector and the industries. These original sponsors mainly formed the<br />
membership. BAND has now achieved the sponsorship of the Ministry for Economics of<br />
Rhineland–Palatinate or the Business Angels Day 2004. It developed strong relations with<br />
potent media-partners. BAND has most recently restructured the membership to include<br />
Business Angel Networks. The Board has changed in 2000 and the headquarters moved to<br />
Essen, North Rhine-Westphalia. BAND provides information for entrepreneurs and Business<br />
Angels and the general public about Business Angel culture and acts as speaker for their<br />
interest. BAND provides and organizes further education for all players in the market of Private<br />
Equity.<br />
2. Statistics<br />
1998 1999 2000 2001 2002 2003 Mid 2004<br />
Number of BANs 0 - 43 36 40 40 40<br />
Number of Business Angels 0 n/a n/a 750 1200 1025 1025<br />
Number of deals 0 1 n/a n/a n/a n/a n/a<br />
Number of accredited projects 0 n/a n/a n/a n/a n/a n/a<br />
Number of commercial BANs 0 1 3 4 4<br />
Number of non-commercial BANs 0 0 1 35 37 36 36<br />
Number of national BANs 0 0 0 1 1 n/a n/a<br />
Number of regional BANs 0 n/a n/a 30 n/a n/a<br />
National association 0 1 1 1 1 1 1<br />
*Information concerning EuBAN can be found on page 29.<br />
3. BAN legal status<br />
BANs operating in Germany are set up as either public sponsored associations, non-profit<br />
associations or private enterprises.<br />
4. National association<br />
As indicated above, the German association BAND was set up as early as 1998 to conduct an<br />
awareness campaign on the concepts of Business Angels and BANs in the regions.<br />
Contact: Dr. Roland Kirchhof / Dr. Ute Günther<br />
Semperstr. 51<br />
45138 Essen<br />
Germany<br />
T.: + 49 201 89 415 –60; F.: + 49 201 89 415 –10<br />
www.business-angels.de; band@business-angels.de<br />
63
5. Lobbying<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAND is namely conducting actions to secure a more attractive tax status for Business Angels<br />
and fight against tax discrimination against investment in the shares of unlisted companies<br />
compared to other forms of tangible or intangible investment.<br />
6. Dissemination of the BAN concept<br />
BAND has established its website as the prime source of information about Business Angels<br />
culture and issues a quarterly newsletter BAND has achieved the collaboration of 2 mediapartners<br />
and organizes the annual German Business Angels Day. BAND provides jumpstart<br />
information for new networks through a BAND starter-kit. BAND organizes seminars and<br />
conferences to various topics relevant to Angel Investors and entrepreneurs and has several<br />
working groups of Business Angels and Business Angel Network managers dealing with<br />
important topics as syndication, taxes and financing of networks.<br />
7. EU support<br />
� Awareness actions<br />
2 awareness seminars have been conducted in Germany (in Cologne and Hamburg).<br />
8. EBAN members<br />
BAND<br />
BAAR<br />
netzwerk|nordbayern<br />
BANSON<br />
Venture Forum Neckar<br />
Peter Jungen Holding<br />
64
Contact person<br />
Contact details<br />
Type of network<br />
Date of creation<br />
Employees<br />
Legal status<br />
Formal partner organisations<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong>S AGENTUR RUHR e.V. (BAAR)<br />
100%<br />
2005<br />
Dr. Roland KIRCHHOF<br />
Dr. Ute GÜNTHER<br />
Semperstr. 51<br />
45138 Essen<br />
Germany<br />
T: +49 201 89 415 -30<br />
F: +49 201 89 415 -10<br />
E: info@baar-ev.de<br />
W: www.baar-ev.de<br />
Regional Network: operates nationwide with<br />
focus on the Ruhr region<br />
December 1999<br />
3 (part-time work)<br />
eingetragener Verein<br />
Member of Business Angels Netzwerk<br />
Deutschland e.V. (BAND)<br />
Member of EBAN<br />
Membership<br />
fees<br />
Membership fees charged to Business Angels, intermediaries and other organisations in the<br />
membership like VC’s, credit institutions etc.<br />
1999 2000 2001 2002 2003 2004<br />
Number of projects of<br />
n/a 80 150 40 150 57 (enterprise<br />
submitted<br />
presentations)<br />
Number of Angels 20 60 90 80 90 59<br />
Number of deals made 0 8 6 3 n/a 5<br />
Average amount of deals n/a n/a n/a n/a n/a n/a<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
1999<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
65<br />
Projects<br />
Angels<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching products of the network:<br />
• Monthly investment forums<br />
• Personal introduction (on a one-to-one basis)<br />
• Special meetings for turnaround cases<br />
• Cooperation with Business Angels Forum Deutschland, the BAND Internet matching<br />
tool<br />
How are clients acquired?<br />
• Information events / seminars / awareness<br />
• Direct mailing advertisement<br />
• Visits to enterprises<br />
• Articles in local / national Press<br />
• Established co-operation with local banks / financing institutions / accountants<br />
Fees:<br />
o Symbolic presentation fee only for those entrepreneurs presenting at the BAAR Forums<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story:<br />
Name of<br />
company<br />
Pegasus-Mail<br />
Dienstleistungs<br />
GmbH<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Services December<br />
2001<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date of<br />
exit<br />
25.000 1 Probably<br />
2006<br />
66<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return on<br />
money)<br />
n/a
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong>S CLUB BERLIN e.V.<br />
Contact person Peter Matthies, Member of the Board<br />
Ingrid Abel<br />
Contact details<br />
Bundesallee 171<br />
10715 Berlin<br />
T: +49 (30) 21 25 48 84<br />
F: +49 (30) 21 25 48 83<br />
E: info@business-angels-berlin.de<br />
W: www.business-angels-berlin.de<br />
Type of network<br />
Regional<br />
Berlin, Brandenburg<br />
Date of creation<br />
July 2005<br />
Employees<br />
2<br />
Legal status registered society (Club),<br />
foundet Dec. 2004<br />
Hosting organisation<br />
Investitionsbank Berlin<br />
Formal partner organisations<br />
BAF Business Angels Fonds Ges. mbH<br />
(founded May 2005)<br />
Funding sources:<br />
10%<br />
5%<br />
85%<br />
Regional Funds<br />
Fees from<br />
business angels<br />
Other<br />
2005<br />
1998 1999 2000 2001 2002 2003 2004<br />
Number of projects submitted 2 7 35 36 30 30 24<br />
Number of Angels 8 22 35 57 42 48 33<br />
Number of deals made - - 6 6 - - 1<br />
Average amount of the deal - - 20.000 20.000 - - 30.000<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
1998<br />
1999<br />
2000<br />
2001<br />
2002<br />
67<br />
2003<br />
2004<br />
Projects<br />
Angels<br />
Deals
Matching services of the network<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
The Club in its present constellation was founded in December 2004. We are not able nor<br />
allowed to announce information according to Success stories in between the time 1998-Dec.<br />
2004 .<br />
Club Board: Axel Gropp, Peter Matthies, Dr. Karl Hinrich Vöge<br />
68
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong> CLUB SCHWABEN<br />
Contact person Marcus Wagner<br />
Contact details<br />
C/o IHK Innotec gmbh<br />
Stettenstr. 4<br />
86150 Augsburg<br />
T: +49 700 31 31 62 62<br />
F: +49 700 31 31 62 62<br />
E: bacs@gruenderregion-schwaben.de<br />
W: www.gruenderregion-schwaben.de<br />
Type of network<br />
Regional<br />
Date of creation July 2002<br />
Number of Employees<br />
1/2<br />
Legal status<br />
No legal status<br />
Hosting organisation<br />
IHK Innotec GmbH<br />
Partner organisations<br />
Initiative Gründerregion Schwaben<br />
Funding Sources:<br />
100%<br />
Other (sponsors)<br />
2002 2003 Mid 2004<br />
Number of projects submitted 8 18 5<br />
Number of Angels 14 17 17<br />
Number of deals made 0 1 0<br />
Average amount of the deal n/a 300.000€ n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs.<br />
69
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong> NETZWERK SÜD OST NIEDERSACHSEN E.V<br />
BANSON<br />
Contact person: Rolf Richter / Uwe Koehler<br />
Contact details<br />
C/o Gründervilla im Technologiepark<br />
Rebenring 33<br />
38106 Braunschweig<br />
T: +49 531 3804 265<br />
F: +49 531 3804 269<br />
E: info@banson.net<br />
W: www.banson.de/www.banson.net<br />
Type of network<br />
Regional/local<br />
Date of creation<br />
June 2003<br />
Number of Employees<br />
None (management by external firm)<br />
Legal status<br />
Non-profit organisation<br />
Hosting organisation<br />
Business angel team GmbH<br />
Partner organisations<br />
Local economy assistance by city and legal<br />
profit organisations<br />
Funding Sources:<br />
95%<br />
5%<br />
Fees from<br />
Business Angels<br />
Other (sponsors)<br />
2003 Mid 2004<br />
Number of projects submitted 4 8<br />
Number of Angels 8 11<br />
Number of deals made n/a 1<br />
Average amount of the deal n/a n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs.<br />
70<br />
M
Contact person<br />
Contact details<br />
Type of network<br />
Date of creation<br />
Number of Employees<br />
Legal status<br />
Partner organisations<br />
Funding Sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BRAINSTOVENTURES GmbH (b-to-v)<br />
10%<br />
10%<br />
2005<br />
Florian Schweitzer<br />
Pfisterstrasse 6<br />
80331 München<br />
T: +49 89 2080 5880<br />
F: +49 89 2080 5888<br />
E: florian.schweitzer@b-to-v.com<br />
W: www.b-to-v.com<br />
National<br />
2000<br />
8 (based in Switzerland)<br />
Private limited company<br />
Altium Capital, Capitalbank – GRAWE<br />
Gruppe AG, SWX Swiss Exchange,<br />
Venture Capital Magazin, VI Partners AG,<br />
Wenger&Vieli<br />
80%<br />
Fees from<br />
business angels<br />
Fees from<br />
entrepreneurs<br />
Other (sponsors)<br />
2000 2001 2002 2003 2004 Mid 2005<br />
Number of projects submitted 500 1500 1800 2000 1000 2200<br />
Number of Angels 10 100 250 300 330 350<br />
Number of deals made 2 5 0 4 10 8<br />
Average amount of the deal 0.1m€ 0.2m€ - 1.2m€ 0.5m€ 0.7m€<br />
2500<br />
2000<br />
1500<br />
1000<br />
500<br />
0<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
Mid 2005<br />
Matching services of the network:<br />
• Newsletter or private information bulletin<br />
• Database of contacts (not public)<br />
• Meetings<br />
• Regular telephone conferences on specific topics<br />
• Investment Clubs (e.g. b-to-v Investor Circle)<br />
71<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Events and information fairs (e.g. b-to-v Investor Talks)<br />
• Monthly Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other: Referrals of existing members<br />
Fees:<br />
o Fees charged to entrepreneurs and business angels: more than 500€.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 100<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
OpenBC.com Networking<br />
Platform<br />
Date of<br />
investment<br />
Amount<br />
invested (€)<br />
April 2004 Undisclosed 6<br />
72<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN LAUSITZ<br />
Contact person Karl-Heinz Wenzel<br />
Contact details<br />
C/o WSC Gmbh Mühlenstr.42<br />
03046 Cottbus<br />
T: +49 355 288 90347<br />
F: +49 355 288 90348<br />
E: info@banl.net<br />
W: www.banl.net<br />
Type of network<br />
Regional<br />
Date of creation<br />
04/2004<br />
Number of Employees<br />
0<br />
Legal status<br />
Vereinsregister 1787 CB<br />
Partner organisations<br />
BAND<br />
Funding Sources:<br />
90%<br />
10%<br />
Fees from<br />
entrepreneurs<br />
Other (sponsors)<br />
Mid 2004<br />
Number of projects submitted 1<br />
Number of Angels 5<br />
Number of deals made 0<br />
Average amount of the deal 0<br />
Matching services of the network:<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Visits to enterprises<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: less than 100€.<br />
o No fees charged to business angels.<br />
73
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Business Angel Netzwerk NordwestDeutschland<br />
BANN<br />
Contact person Jörg Rensmann<br />
Contact details<br />
Westerbreite 7<br />
49078 Osnabrück<br />
T: +49 541 977 8559<br />
F: +49 541 977 8599<br />
E: jr@springstep.de<br />
W: www.ban-nds.de<br />
Type of network<br />
Regional Network<br />
Date of creation<br />
August 2001<br />
Number of Employees<br />
n/a<br />
Legal status<br />
Club<br />
Hosting organisation<br />
BAN-NDS<br />
Partner organisations<br />
Different<br />
Funding Sources:<br />
75%<br />
25%<br />
Fees from<br />
Business Angels<br />
Other (sponsors)<br />
2001 2002 2003 Mid 2004<br />
Number of projects submitted 60 100 70 45<br />
Number of Angels 12 15 16 16<br />
Number of deals made 3 6 9 3<br />
Average amount of the deal 40.000€ 30.000€ 25.000€ 45.000€<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other: clients find us by Internet research etc.<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: 100€ - 500€<br />
74
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Business Angel Netzwerk Ostwestfalen e.V – BANOW<br />
Contact person Franco RIZZO<br />
Hans-Boeckler Str. 20-22a<br />
59423 Unna.<br />
T: +49 2303 239938<br />
F: +49 2303 239968<br />
E: rizzo@ban-ow.de<br />
W: www.ban-ow.de<br />
Type of network Regional Network – Northrhine Vestfalia<br />
(no regional or national limit)<br />
Date of creation<br />
January 2000<br />
Employees<br />
3<br />
Legal status<br />
Registered association – not-for-profit<br />
Hosting organisation<br />
Consortium zur Forderung des<br />
Europäischen Mittelstandes e.V.<br />
Formal partner organisations<br />
BDS, etc.<br />
Funding sources:<br />
100%<br />
Own Funds<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted to BA 120 2900 4000 1800 1200<br />
Number of Angels 40 84 101 110 108<br />
Number of deals made 40 80 112 42 34<br />
Average amount of the deal n/a n/a n/a n/a n/a<br />
4500<br />
4000<br />
3500<br />
3000<br />
2500<br />
2000<br />
1500<br />
1000<br />
500<br />
0<br />
2000<br />
2001<br />
2002<br />
2003<br />
75<br />
2004<br />
Projects<br />
Angels<br />
Deals<br />
2005
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching products of the network:<br />
• Personal introduction (on a one-to-one basis)<br />
• Profile matching<br />
How are clients acquired?<br />
• Visits to enterprises<br />
• Established co-operation with local banks / financing institutions / accountants/<br />
associations, etc.<br />
• Personal introduction<br />
• Internet<br />
Fees:<br />
o 3 % success fee<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: Known to us, created or saved: about 570<br />
Success story: n/a<br />
Nothing particular, all companies still running, but without spectacular manner.<br />
Bigger projects still in treatment in Italy.<br />
76
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BANKO – Business Angels Netzwerk Rheinland<br />
im TechnologieZentrum Koblenz<br />
2005<br />
Contact person Stefan Dresen<br />
Contact details Maria Trost 23<br />
56070 Koblenz<br />
T: +39 0261 88 54 – 255<br />
F: +39 0261 88 54 - 119<br />
E: info@banko-rheinland.de<br />
F: http://www.banko-rheinland.de<br />
Type of network<br />
Regional - Rheinland<br />
Date of creation<br />
n/a<br />
Employees<br />
n/a<br />
Legal status<br />
n/a<br />
Hosting organisation<br />
n/a<br />
Formal partner organisations<br />
n/a<br />
Funding sources:<br />
40%<br />
60%<br />
Regional funds<br />
Fees from<br />
business angels<br />
2002 2003 2004<br />
Number of projects submitted 15 35 26<br />
Number of Angels 9 12 11<br />
Number of deals made 1 2 1<br />
Average amount of the deal n/a n/a n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: between 100€ and 500€<br />
77
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 30<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
LEDX Advertisement 2002 n/a 1 - -<br />
S4B IT-Security 2003 n/a 2 - -<br />
BMIB Life Science 2003 n/a 1 - -<br />
wizAI Artifical<br />
Intelligence<br />
2004 n/a 1 - -<br />
78<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
netzwerk|nordbayern<br />
2005<br />
Contact person: Arne-G. HOSTRUP<br />
Contact details<br />
netzwerk|nordbayern<br />
Neumeyerstr. 48<br />
90411 Nürnberg<br />
T: +49 911 59 724 8031<br />
F: +49 911 59 724 8049<br />
E: hostrup@netzwerk-nordbayern.de<br />
W: www.netzwerk-nordbayern.de<br />
Type of network<br />
Regional Network – Region of Northern<br />
Bavaria<br />
Date of creation: December 1999<br />
Employees: 9<br />
Legal status: Limited company<br />
Hosting organisation: F.U.N. e.V.<br />
Funding sources<br />
60%<br />
30%<br />
10%<br />
P ublic/N ational<br />
Funding<br />
Fees from<br />
enterprises<br />
Other (sponsors)<br />
1999 2000 2001 2002 2003 2004 Mid-2005<br />
Number of projects submitted n/a 84 70 44 46 63 32<br />
Number of Angels 4 136 85 77 68 68 68<br />
Number of deals made 5 24 19 10 8 8 6<br />
Average Amount of Deals n/a n/a n/a n/a 1,4 Mio. € 600.000€ 850.000€<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
Matching products of the network:<br />
• Matching through Bulletin / Newsletter<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment forum/ fairs<br />
1999<br />
2000<br />
2001<br />
2002<br />
79<br />
2003<br />
2004<br />
Projects<br />
Angels<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Own newsletters<br />
• Direct mailing advertisement<br />
• Visits to enterprises<br />
• Articles in local / national Press<br />
• Established co-operation with local banks / financing institutions / accountants<br />
• Cooperation with local Business plan Competition<br />
• Other (networking)<br />
Fees:<br />
o No fees charged to business angels or entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 2000<br />
Success story: n/a<br />
80
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong> VENTURE<br />
Contact person Martin Heinemann<br />
Contact details<br />
Richmodstr.31<br />
50667 Köln<br />
T: +49 221 25 86 60<br />
F: +49 221 25 866 99<br />
E: contact@business-angel-venture.de<br />
W: www.business-angel-venture.de<br />
Type of network<br />
National<br />
Date of creation<br />
8.12.2000<br />
Number of Employees<br />
5<br />
Legal status<br />
GmbH<br />
Partner organisations<br />
Deutsche Bank AG and others<br />
Funding Sources:<br />
50% 50%<br />
Fees from<br />
Business Angels<br />
Other (sponsors)<br />
2003 Mid 2004<br />
Number of projects submitted 1024 n/a<br />
Number of Angels n/a n/a<br />
Number of deals made 11 n/a<br />
Average amount of the deal 845 T€ n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€<br />
o Fees charged to business angels: more than 500€<br />
81
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong>S FRANKFURTRHEINMAIN e.V.<br />
Contact person Frank Müller<br />
Contact details<br />
Börsernplatz 4<br />
60313 Frankfurt am Main<br />
T: +49 69 21 97 15 91<br />
F: +49 69 21 97 13 83<br />
E: info@ba-frm.de<br />
W: www.ba-frm.de<br />
Type of network<br />
Regional<br />
Date of creation<br />
2000<br />
Number of Employees<br />
1<br />
Legal status<br />
Registered society<br />
Partner organisations<br />
Chamber of Commerce Frankfurt am<br />
Main<br />
Funding Sources:<br />
50% 50%<br />
Fees from<br />
Business Angels<br />
Other (sponsors)<br />
2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted n/a n/a n/a n/a n/a<br />
Number of Angels 5 9 39 48 55<br />
Number of deals made n/a n/a 3 3 n/a<br />
Average amount of the deal n/a n/a 100.000€ 100.000€ n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Investment Clubs<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Internet<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: between 100€ and 500€<br />
82
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Business Angel Netzwerk Saarland<br />
Contact person Dr. Mathias Hafner<br />
Contact details c/o IHK Saarland<br />
Franz-Josef-Röder-Strasse 9, 66119<br />
Saarbrücken<br />
T: +49 (0681) 95 20 - 300<br />
F: +49 (0681) 95 20 - 388<br />
E: business-angels@saarland.ihk.de<br />
F: http://www.business-angels-saarland.de<br />
Type of network<br />
Regional<br />
Date of creation<br />
2000<br />
Employees<br />
1/2<br />
Legal status<br />
Initiative<br />
Hosting organisation<br />
Formal partner organisations<br />
Funding sources:<br />
n/a<br />
IHK Saarland<br />
2005<br />
IHK Saarland, Ministerium für Wirtschaft und<br />
Arbeit des Saarlandes, ZPT- Zentrale für<br />
Produktiviät und Technologie Saar e. V.<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted 18 21 36 26 29<br />
Number of Angels 49<br />
Number of deals made 3 3 2 2 2<br />
Average amount of the deal - - - - -<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels or entrepreneurs.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
83
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN THÜRINGEN<br />
Contact person Matthias Schulze<br />
Contact details<br />
C/o STIFT Management GmbH<br />
Mainzerhofstr. 10<br />
99084 Erfurt<br />
T: +49 361 789 2358<br />
F: +49 361 789 23 47<br />
E: mschulze@stift-management.de<br />
Type of network<br />
Date of creation:<br />
Number of Employees:<br />
Legal status:<br />
Funding Sources:<br />
100%<br />
Regional Funds<br />
2002 2003 Mid 2004<br />
Number of projects submitted 1 3 2<br />
Number of Angels 3 5 6<br />
Number of deals made 1 3 2<br />
Average amount of the deal 80.000€ 100.000€ 100.000€<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Other: STIFT Foundation for Technology, research and innovation Thuringia<br />
Fees:<br />
o No fees charged to business angels or entrepreneurs.<br />
BANT is one of the youngest German business angel networks and is still working on its<br />
structure and organisation.<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> <strong>ANGEL</strong>S WESER EMS<br />
2005<br />
Contact person Andreas Wilhelm<br />
Contact details<br />
Julius-Mosen-Platz 3, 26122 Oldenburg<br />
T: +49 (04 41) 77911617<br />
F: +49 (04 41) 77911620<br />
E: info@business-angels-weser-ems.de<br />
W: www.business-angels-weser-ems.de<br />
Type of network<br />
Regional<br />
Date of creation<br />
2004<br />
Employees<br />
n/a<br />
Legal status<br />
n/a<br />
Hosting organisation<br />
n/a<br />
Formal partner organisations<br />
n/a<br />
Funding sources:<br />
12%<br />
16%<br />
72%<br />
Fees from<br />
entrepreneurs<br />
Fees from<br />
business angels<br />
Other (sponsors)<br />
2004<br />
Number of projects submitted 4<br />
Number of Angels 5<br />
Number of deals made 1<br />
Average amount of the deal -<br />
Matching services of the network:<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€<br />
o Fees charged to business angels: between 100€ and 500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
85
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CATCAP<br />
Contact person Michael Moritz<br />
Contact details<br />
An der Alster 82<br />
20099 Hamburg<br />
T: +49 40 30 08 360<br />
F: +49 40 30 08 36 22<br />
E: Michael.moritz@catcap.de<br />
W: www.catcap.de<br />
Type of network<br />
National/local<br />
Date of creation<br />
2000<br />
Number of Employees<br />
8<br />
Legal status<br />
GmbH<br />
Funding Sources:<br />
10%<br />
90%<br />
Fees from<br />
entrepreneurs<br />
Other (sponsors)<br />
2005<br />
2001 2002 2003 Mid 2004 Mid 2005<br />
Number of projects submitted 550 600 650 410 420<br />
Number of Angels 30 41 52 55 65<br />
Number of deals made 2 4 7 9 4<br />
Average amount of the deal 150.000€ 150.000€ 200.000€ 200.000€ 200.000€<br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
2001<br />
2002<br />
2003<br />
Mid 2004<br />
Mid 2005<br />
Projects<br />
Angels<br />
Deals<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o Fees charged to entrepreneurs: 100€ - 500€.<br />
o No fees charged to business angels.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 200<br />
Success story: n/a<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
INVESTOREN FÜR UNTERNEHMEN IN SCHLESWIG HOLSTEIN<br />
Contact person Frank Wilde<br />
Contact details<br />
Hamburger Landstr. 24<br />
24113 Molfsee/Kiel<br />
Type of network<br />
Date of creation<br />
Number of Employees:<br />
Legal status:<br />
Partner organisations:<br />
T: +49 431 640 61 65<br />
F: +49 431 640 61 45<br />
E: kontakt@investoren-sh.de<br />
W: www.investoren-sh.de<br />
Regional with focus on Schleswig-Holstein<br />
29.05.2000 (official Registration:<br />
20.01.2001)<br />
0<br />
Eingetragener Verein” (e. V.) resp.<br />
registered association/membership<br />
corporation<br />
BAND – Business Angels Netzwerk<br />
Deutschland e. V. (www.businessangels.de);<br />
Wirtschaftsförderung und<br />
Technologietransfer Schleswig-Holstein<br />
GmbH (www.wtsh.de),<br />
mbg Mittelständische;<br />
Beteiligungsgesellschaft Schleswig-Holstein<br />
GmbH (www.mbg-sh.de)<br />
Investitionsbank Schleswig-Holstein<br />
(www.ib-sh.de); HSH Nordbank AG<br />
(www.hsh-nordbank.com); Dr. Neuhaus<br />
Techno Nord GmbH (www.drneuhaus.de);<br />
Mentoren für Unternehmen in Schleswig-<br />
Holstein e. V. (www.mentoren-sh.de)<br />
Funding Sources (approximately in 2003 which is not representative for other years):<br />
60%<br />
n. p. = not published / undisclosed<br />
40%<br />
Fees from<br />
business angels<br />
Other (sponsors)<br />
2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted* 40 90 110 70 35<br />
Number of Angels **<br />
10 12 13 13<br />
Number of deals made n. p. n. p. n. p. n. p.<br />
Average amount of the deal n. p. n. p. n. p. n. p.<br />
*<br />
Submitted by companies/entrepreneurs searching for capital, the number of screened projects<br />
is significantly lower!<br />
88
**<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
The number indicated<br />
is the number of our registered mem bers . In f act we do not only<br />
address to registered members but to a group of approximately. 3 5 -40 Business Angels/Investors<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Articles in the regional or national press<br />
• Other: Personal contacts<br />
and recommendations by members and BAs/Investors we<br />
work with<br />
Fees:<br />
o Fees charged to business angels: 100€ - 500€.<br />
o No fees charged to entrepreneurs.<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
VENTURE FORUM NECKAR<br />
2005<br />
Contact person Thomas R. Villinger<br />
Contact details Weipertstr. 8-10<br />
74076 Heilbronn<br />
T: +49 (07 131) 7 66 91 00<br />
F: +49 (07 131) 7 66 91 00<br />
E: info@venture-forum-neckar.de<br />
W: http://www.venture-forum-neckar.de<br />
Type of network<br />
Regional<br />
Date of creation<br />
n/a<br />
Employees<br />
n/a<br />
Legal status<br />
n/a<br />
Hosting organisation<br />
n/a<br />
Formal partner organisations<br />
n/a<br />
Funding sources:<br />
40%<br />
30%<br />
40%<br />
Fees from<br />
business angels<br />
Fees from<br />
entrepreneurs<br />
Other (sponsors)<br />
2002 2003 2004<br />
Number of projects submitted 100 250 380<br />
Number of Angels 7 19 41<br />
Number of deals made - - 3<br />
Average amount of the deal - - 215.000<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other: Corporate venture activities<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Success fee charged to the entrepreneur, depending on the size of the investment<br />
o Fee charged to business angels: 600€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: Approx. 60<br />
Success story: n/a<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
WAGNISKAPITAL FÜ INNOVATIONEN NRW GmbH<br />
WIN<br />
2005<br />
Contact person Dirk Meissner<br />
Contact details<br />
Ernst Schneider Platz 1<br />
40212 Düsseldorf<br />
T: +49 211 82 89 79 11<br />
F: +49 211 82 89 79 20<br />
E: meissner@win-nrw.de<br />
W: www.win-nrw.de<br />
Type of network<br />
Regional (NRW), but not limited<br />
Date of creation<br />
1/2000<br />
Number of Employees<br />
2<br />
Legal status<br />
GmbH<br />
Hosting organisation<br />
Boerse Duesseldorf AG<br />
Partner organisations<br />
Gruendungsnetzwerk GO!; BAND<br />
Funding Sources:<br />
20%<br />
80%<br />
Regional funds<br />
Other (sponsors)<br />
1998 1999 2000 2001 2002 2003 2004<br />
Number of projects submitted<br />
Number of Angels 5 30 65 78 88 94 98<br />
Number of deals made<br />
Average amount of the deal<br />
5 4 3<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels or entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 82<br />
Success story: n/a<br />
92
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
GREECE<br />
2005<br />
The early stage funding market in Greece is underdeveloped. Only during the last years the<br />
Government launched some initiatives to support the creation and development of SMEs.<br />
Programs like “Support and Creation of Scientific and Technological Parks and Incubators",<br />
“Support and Creation of Innovative SMEs for the exploitation of RTD results (Spin- offs)" and<br />
funds like the “Fund for High Technology Business Ventures” and the “Guarantee Fund Facility<br />
Scheme for SMEs” aimed at leveraging the entrepreneurship in Greece. The results of these<br />
programs are not yet visible leaving SMEs highly dependent on bank loans and overdrafts for<br />
early stage financing.<br />
Angel investment in the country is occasional but yet considerable. Although there are no<br />
favourable policies for angel investment in Greece, business angels are investing, preferably<br />
in traditional sectors (like tourism and retail). There is a strong need to raise the awareness<br />
about the benefits of angel investment and to inform potential angels and entrepreneurs about<br />
the advantages of Business Angel Networks. Public administration and local government have<br />
a critical role to play in order to promote informal investing.<br />
2. Statistics<br />
2003 2004<br />
Number of BANs 1 1<br />
Number of Business Angels 7 13<br />
Number of deals 1 1<br />
Number of accredited projects 4 12<br />
Number of commercial BANs 0 0<br />
Number of non-commercial BANs 0 0<br />
Number of national BANs 1 1<br />
Number of regional BANs 0 0<br />
National association 0 0<br />
3. BAN legal status<br />
“Mentoring” is a privately held company (SA) offering business development services to startup<br />
and early stage companies.<br />
4. National association<br />
Not existing<br />
5. Lobbying<br />
“Mentoring” is actively networking with academic and research institutions, players of the<br />
formal venture capital market (incubators, VCs), Banks etc.<br />
6. Dissemination of the BAN concept<br />
“Mentoring” has had several articles in business magazines and financial newspapers to raise<br />
the awareness of angel investment in Greece. It has also participated in a series of seminars<br />
for new entrepreneurs, organized in Greece and Cyprus by i-Ven (GR) OneLondon (UK) and<br />
Barcelona Activa (E) under the Ready4growth initiative. Furthermore, “Mentoring” will<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
contribute at the seminar of “The Association of European Science & Technology Transfer<br />
Professionals” (ASTP) that will be held on October 2005 in Athens.<br />
7. EU support<br />
None.<br />
8. EBAN members<br />
Mentoring Business Development Services SA<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MENTORING <strong>BUSINESS</strong> DEVELOPMENT<br />
SERVICES SA<br />
Contact person George KRIKELAS<br />
Address<br />
6 Egialias St. 151-25<br />
T: +30 210 68 00 743<br />
F: +30 210 68 00 744<br />
E: ban@mentoring.com.gr<br />
W: www.mentoring.com.gr<br />
Type of network<br />
National<br />
Date of creation<br />
01 June 2003<br />
Number of Employees<br />
3<br />
Legal status<br />
S.A<br />
Funding Sources:<br />
85%<br />
15%<br />
Fees from<br />
entrepreneurs<br />
Other<br />
(sponsors)<br />
2005<br />
2003 2004<br />
Number of projects submitted 4 12<br />
Number of Angels 7 13<br />
Number of deals made 1 1<br />
Average amount of the deal 120.000€ 72.500€<br />
Matching services of the network:<br />
• Newsletter or information bulletin;<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
Clients are acquired through:<br />
• Event and information fairs;<br />
• Newsletter;<br />
• Targeted publicity;<br />
• Visits to enterprises;<br />
• Articles in the regional or national press;<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Word of mouth;<br />
• Personal network.<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€<br />
o No fees charged to business angels<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 2<br />
Success story : n/a<br />
96
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
HUNGARY<br />
2005<br />
The information concerning the organization dealing with the actors of the Hungarian venture<br />
capital and private equity market can be summarized as follows:<br />
Name of organization: Hungarian Venture Capital and Private Equity Association (HVCA)<br />
President: Julian TZVETKOV (Tzvetkov.Julian@mfb.hu )<br />
Executive Secretary: Ádám SERKE (adam.serke@hvca.hu ) -<br />
Address: 32 Nádor u. Budapest, 1051, Hungary<br />
T: +36-1-475-0924<br />
F: +36-1-475-0925<br />
W: www.hvca.hu<br />
Private investors can also be found among the members of the club.<br />
Innostart BIC (Hungary) - Business Angel Club<br />
The BAC is not a legally registered formal organisation. The Hungarian Innovation Association<br />
and Innostart BIC established it in June 2000. Since then it has been working as an informal<br />
forum.<br />
1-3 programs are organised annually – in cooperation with the experts of HVCA - to inform the<br />
interested entrepreneurs on the characteristics of the venture capital market and business<br />
angel financing. It also provides innovative SMEs with the possibility of introducing themselves<br />
to investors.<br />
Innostart BIC assists the development of innovative SMEs by its services (counselling,<br />
business plan preparation, proposal writing, training etc).<br />
There is no membership fee at BAC; all occurring costs of Innostart are covered from other<br />
sources and grants.<br />
Contact: Kinga Garab garab@innostart.hu, director or Piroska Kalmár piroska@innostart.hu ,<br />
project manager.<br />
Innostart BIC<br />
1116 Budapest, Fehérvári út 130, Hungary<br />
Phone: +36.1.382.1504<br />
Fax: +36.1.382.1510<br />
www.innostart.hu<br />
97
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ITALY<br />
2005<br />
Interest in the BAN concept first arose in Italy in 1997. It emerged from a few Business<br />
Innovation Centres in Northern Italy, more precisely in Valle d’Aosta and Lombardia.<br />
Several regional BANs were set up in 1999, as well as IBAN, the national association created<br />
to foster the development of BANs in all Italian regions and to federate their activities.<br />
2. Statistics<br />
1999 2000 2001 2002 2003 2004<br />
Number of BANs 2 5 12 11 10 12<br />
Number of Business Angels 65 183 300 350 350 219<br />
Number of deals 0 3 2 3 2 12<br />
Number of accredited projects - 70 70 101 30 437<br />
Number of commercial BANs 0 0 0 0 0 2<br />
Number of non-commercial BANs 2 5 12 11 10 10<br />
Number of national BANs 0 0 0 0 0 1<br />
Number of regional BANs 2 5 12 11 10 11<br />
National association 1 1 1 1 1 1<br />
3. IBAN funding sources<br />
4. BAN legal status<br />
500<br />
450<br />
400<br />
350<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
60%<br />
1999<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
40%<br />
Angels<br />
Projects<br />
Deals<br />
Fees from BAN<br />
Other (Sponsors)<br />
10 BANs are set up as non-profit organizations, 1 is a commercial BAN, and 1 is a club of<br />
investors.<br />
The BANs are often emanations of BICs, development agencies and private investors.<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
In general the founding sources come from fees (entrepreneurs and angels), regional funds<br />
and local sponsors (especially banks).<br />
5. National association<br />
IBAN was set up in 1999 for the purpose of stimulating the development of activities in the field<br />
of informal venture capital in Italy and to raise the awareness of administrative authorities as to<br />
the environment in which such activities could flourish. Furthermore, IBAN has established<br />
privileged relations with the banking sector and the venture capital sector (IBAN is member of<br />
AIFI - Italian Association of Institutional Investor in Risk Capital).<br />
IBAN has also adopted a code of conduct that clarifies the rights and duties of BANs.<br />
IBAN has established cooperation with most important Italian banks, financial institutions,<br />
regional Institutions and the national accountants association.<br />
6. Lobbying<br />
In order to create a legal and fiscal framework more appropriate to develop the private informal<br />
investors, IBAN has established a dialogue with the relevant Italian Ministries with a view to<br />
clarifying the legal status of BANs with regard to several existing statutes. In October 2000,<br />
IBAN submitted to the Italian Ministries attention a law proposal concerning the tax status of<br />
the business angels investment activities. Other documents were presented in 2003 and in the<br />
end of 2004.<br />
7. Dissemination of the BAN concept<br />
The economic daily Il Sole 24ore and Italia Oggi; the weekly Milano Finanza and Il Mondo<br />
Economico, newspapers and magazines have published several feature articles on IBAN,<br />
BAN and BA activities.<br />
8. Regional Bans in Italy<br />
BANs are fully connected to IBAN. All the BANs are managed following the IBAN code of<br />
conduct.<br />
FIGURES (2004)<br />
Projects Number of Deals Average amount in<br />
submitted Angels Made<br />
Euros<br />
LAZIO 57 15 0 0<br />
NORD OVEST 156 125 1 20.000<br />
TOSCANA n/a n/a n/a<br />
LOMBARDIA 80 9 0<br />
PUGLIA 0 0 0<br />
UMBRIA 36 n/a n/a n/a<br />
SARDEGNA 4 3 0 0<br />
BOLOGNA 16 14 1 50.000<br />
CALABRIA 0 0 0<br />
CAMPANIA 0 0 0<br />
FRIULI 5 43 1 5.000<br />
CLUB MILANO 83 10 9 136.700<br />
TOTAL 437 219 12 108.775€<br />
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9. EU support<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
� Awareness actions<br />
Awareness seminars have been held in the following cities: Torino, Tortona, Venezia and<br />
Bologna. They were organised and co-ordinated by IBAN with the EBAN support.<br />
� Feasibility studies<br />
SVI Lombardia received financial support from the European Commission to investigate the<br />
setting up of an Italian BAN. This project led to the creation of IBAN and stimulated the<br />
emergence of regional networks.<br />
� Pilot projects<br />
Gepafin S.P.A., the Regional Finance firm from Umbria, received subsidies from<br />
DG Enterprise to set up a regional BAN as well as to explore the potential benefits of<br />
establishing a transnational electronic BAN.<br />
IBAN, the Italian association of BANs, was also selected to deliver a pilot project aimed at<br />
improving the administrative and cultural environments in which BANs operate.<br />
10. EBAN members<br />
IBAN<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Alpe Adria<br />
Contact person Fabio Apollonio<br />
Contact details<br />
E: info@dolphin-investments.com<br />
Type of network<br />
Private company<br />
Date of creation<br />
March 2003<br />
Employees<br />
None<br />
Legal status<br />
Società in accomandita per azioni<br />
Funding sources:<br />
100%<br />
Private<br />
Shareholders<br />
2005<br />
2003 2004<br />
Number of projects submitted 6 5<br />
Number of Angels 36 43<br />
Number of deals made 3 1<br />
Average amount of the deal 85.000 5.000<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
2003 2004<br />
Projects<br />
Angels<br />
Deals<br />
Matching products of the network:<br />
• Computerised data-base matching service<br />
• Investment forum / fairs<br />
• Personal introduction (on a one-to-one basis)<br />
• Networking events for investors<br />
• Mail presentation to all private investors<br />
• Contacts to potential Business Angels within two weeks after first contact<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Other: Partnerships with universities, academies/colleges, science parks; public<br />
relations, direct mailings.<br />
Fees:<br />
o Fees charged to entrepreneurs<br />
o Fees charged to Business angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 11<br />
Success story: n/a<br />
102
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Bologna<br />
2005<br />
Contact person Francesca Polluce<br />
Contact details<br />
Via Benedetto XIV, 3 – 40125 Bologna<br />
T: +39.051.6598166<br />
F: +39.051.6599608<br />
E: banbologna@nts.provincia.bologna.it<br />
Type of network<br />
Regional - Emilia Romagna<br />
Date of creation<br />
2001<br />
Number of Employees<br />
1<br />
Legal status<br />
Agreement<br />
Hosting organisation<br />
Provincia of Bologna (Public Administration)<br />
Funding Sources:<br />
50% 50%<br />
Regional Funds<br />
Sponsors<br />
2001 2002 2003 2004<br />
Number of projects submitted 7 9 10 16<br />
Number of Angels 9 9 10 14<br />
Number of deals made 0 0 0 1<br />
Average amount of the deal - - - 50.000€<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs and business angels.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
103
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Lazio<br />
Contact person: Andrea Cosentino<br />
Contact details Via Casilina, 3/T<br />
00182 Roma<br />
T: +39 06/9784501<br />
F: +39 06/97845001<br />
E: banlazio@biclazio.it<br />
Type of network<br />
Lazio region<br />
Date of creation<br />
04/06/2001<br />
Number of Employees<br />
3<br />
Hosting organisation<br />
BIC Lazio Spa<br />
Funding Sources:<br />
n/a<br />
2005<br />
2001 2002 2003 2004<br />
Number of projects submitted 8 38 13 57<br />
Number of Angels 1 4 10 15<br />
Number of deals made 0 0 0 0<br />
Average amount of the deal 0 0 0 0<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to business angels: 100€ - 500€<br />
o Fees charged to entrepreneurs: 100€ - 500€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
104
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Lombardia 1 – BIC La Fucina s.cons.r.l.<br />
Contact person Sabina Liebschner<br />
Contact details<br />
c/o BIC La Fucina s.cons.r.l.<br />
Viale Italia, 548<br />
20099 Sesto San Giovanni (MI)<br />
T : +39 02/24.42.55.70<br />
F : +39 02/24.42.55.71<br />
E : liebschner@biclafucina.it<br />
Type of network<br />
BAN<br />
Date of creation<br />
Mar. 1999<br />
Employees<br />
1/2+1/2<br />
Legal status<br />
Associato IBAN<br />
Hosting organisation<br />
BIC La Fucina s.cons.r.l.<br />
Formal partner organisations<br />
IBAN<br />
Funding sources<br />
22%<br />
12%<br />
66%<br />
Public National<br />
Fees from<br />
Business Angels<br />
and enterprises<br />
Other (sponsors)<br />
2004<br />
Number of projects submitted 80<br />
Number of Angels 09<br />
Number of deals made 00<br />
Average amount of the deal /<br />
Matching products of the network:<br />
• Computerised data-base matching service 18<br />
• Personal introduction (on a one-to-one basis) 10<br />
• Investment forum / fairs 01<br />
• Networking events for investors 01<br />
• Mail presentation to all private investors 08<br />
• Contacts to potential Business Angels within two weeks after first contact 02<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants,<br />
lawyers; embedding in sector of public promotion companies for SMEs,<br />
• Partnerships with universities, academies/colleges, science parks; public relations,<br />
direct mailings.<br />
105
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: Success fee 3% on equity<br />
o Fees charged to Business angels: Entry fee: 1550,00 euro.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
106
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN North West<br />
2005<br />
Contact person Paolo Anselmo<br />
Andrea Pallais<br />
Deborah Barathier<br />
Contact details Centro Sviluppo SPA - BIC Vallée d’Aoste<br />
Via Lavoratori Vittime Col du Mont, 24<br />
11100 AOSTA (ITALY)<br />
T: +39 (0)165 305511<br />
F: +39 (0)165 305540<br />
E: info@centrosviluppo.it<br />
E: ban@centrosviluppo.it<br />
Type of network<br />
National (focused on North West Italy<br />
regions: Valle d’Aosta, Piemonte, Liguria)<br />
Date of creation<br />
October 1999<br />
Employees<br />
3<br />
Legal status Società per Azioni – SpA<br />
Hosting organisation<br />
Funding sources<br />
10%<br />
10%<br />
(shareholders company)<br />
Centro Sviluppo SpA<br />
80%<br />
Public National<br />
Fees from<br />
Business Angels<br />
and enterprises<br />
Other (sponsors)<br />
1999 2000 2001 2002 2003 2004<br />
Number of projects submitted 60 270 - 178 172 156<br />
Number of Angels 30 100 - 125 470* 125**<br />
Number of deals made 0 0 - 0 1 1<br />
Average amount of the deal 0 0 - 0 396.000€ 20.000€<br />
*All contact, included latent investors<br />
**Interested and active angel investors<br />
Matching products of the network:<br />
• Personal introduction (on a one-to-one basis)<br />
• E-mail presentation to all private investors<br />
• Internet web site<br />
• Investment forum / fairs<br />
• Networking events for investors<br />
• Contacts to potential Business Angels after first contact<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
107
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Established co-operation with local banks / financing institutions / VC’s / accountants,<br />
lawyers; embedding in sector of public promotion companies for SMEs,<br />
• Other: Partnerships with universities, academies/colleges, science parks; public<br />
relations, direct mailings.<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs until successful deal. In case of<br />
closing, the fees charged are the following:<br />
o Fees charged to entrepreneurs: 1,5%<br />
o Fees charged to business angels: 2,5%<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 5<br />
Success story: n/a<br />
108
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Summary of BAN North West activity in 2004<br />
The Ban North West received 165 business ideas in the whole 2004.<br />
The main channels used were the IBAN web site and the promotion of its activity in Italian<br />
financial conventions and events.<br />
As for the business ideas screening process:<br />
� 54 ideas (about the 33%) have been positively evaluated and they went on requiring<br />
the complete Business Plan;<br />
� 99 ideas (about the 60%) have been negatively evaluated or regarded not good for VC<br />
investment;<br />
� for 12 ideas instead the analysis was not possible for the few information provided.<br />
99<br />
PROJECTS 2004<br />
12<br />
positive evaluation negative evaluation impossible evaluation<br />
Between the 49 business ideas, the BAN received 28 Business Plans which have been<br />
carefully analysed to verify the economic financial and market project feasibility. Then 11<br />
Business Plans were positively evaluated and they were spread through the newsletter<br />
channel between the panel of Business Angel.<br />
The BAN North West published 3 newsletter during the whole 2004 in the following months:<br />
March, May and October: each newsletter contained three selected project summaries.<br />
The sectoral overview of all 2004 projects can be summarized as follow: ICT 33%,<br />
commercial initiatives 12%, services 21%, Industrial projects 11%, food production 4%,<br />
editorial projects 2%, environment 2% and other sectors 17%.<br />
109<br />
54
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ICT<br />
SECTORAL OVERVIEW<br />
Services<br />
Food<br />
production<br />
Other<br />
Editorial<br />
Industrial<br />
Environment<br />
Commerce<br />
As for the geographical distribution of 2004 projects, the 46% of them came from north<br />
regions, the 23% from central regions, the 10% from south regions and the 2% from abroad.<br />
27<br />
8<br />
38<br />
PROJECTS ORIGIN<br />
16<br />
76<br />
NORTH<br />
CENTRE<br />
SOUTH<br />
ABROAD<br />
OTHER<br />
Between these projects the 12% were only sent to the BAN North West, the 5% to all Italian<br />
BAN structures and the other percentage to a selected number of BAN.<br />
110
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Sardegna 4<br />
Contact person: Alfredo Bacigalupo<br />
Contact details Via Jenner 13<br />
09121 Cagliari<br />
T: +39 070 529 01250 Mon to Fri 9-1 pm<br />
F: +39070 5290 01213<br />
E: infoban@bansardegna.it<br />
W: www.bansardegna.it<br />
Type of network<br />
Regional - Sardegna<br />
Date of creation<br />
19 December 2002<br />
Number of Employees<br />
0<br />
Legal Status<br />
Association<br />
Funding Sources:<br />
n/a<br />
2005<br />
2002 2003 2004<br />
Number of projects submitted 46 0 4<br />
Number of Angels 3 3 3<br />
Number of deals made 0 0 0<br />
Average amount of the deal 0 0 0<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
How are clients acquired?<br />
• Event and information<br />
Fees:<br />
o Fees charged to business angels: 100-500€<br />
o No fees charged to entrepreneurs.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
4 Strategic and operational revision 01.07.2004<br />
111
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
UBAN – Umbria Business Angel Network<br />
Contact person Marco Tili, Chiara Borgarelli<br />
2005<br />
Contact details Via Campo Di Marte, 9<br />
06124 Perugia<br />
T: 00390755059811<br />
F: 00390755005156<br />
E: m.tili@gepafin.it ; c.borgarelli@gepafin.it<br />
Type of network<br />
Regional - Umbria<br />
Date of creation<br />
29/6/2001<br />
Number of Employees<br />
0<br />
Hosting organisation<br />
GEPAFIN SPA<br />
Funding Sources:<br />
Matching<br />
services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment<br />
forums and fairs<br />
How<br />
are clients acquired?<br />
• Event and information fairs<br />
• Visits to enterprises<br />
• Articles in the regional<br />
or national press<br />
• Cooperation agreements with local banking,<br />
financial or fiduciary institutions<br />
Fees:<br />
o No fees<br />
charged to business angels and entrepreneurs.<br />
Estimate<br />
of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success<br />
story: n/a<br />
25%<br />
5 14 through the website, 12 University spin-offs<br />
6 24 Projects from the website at 30/06/2004<br />
75%<br />
European Funds<br />
Fees from<br />
entrepreneurs<br />
2001 2002 2003 2004<br />
Number of projects submitted 35 25 26 5<br />
36 6<br />
Number of Angels 2 1 0<br />
Number of deals made 0 0 0<br />
Average amount of the deal 0 0 0<br />
112
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CONNECT Latvia Business Angel Network (In creation)<br />
2005<br />
Contact person Elmars Baltins<br />
Contact details Azenes iela 20<br />
Riga, LV-1048<br />
T: +371 708 9178<br />
E: info@connectlatvia.lv<br />
W: www.connectlatvia.lv<br />
Type of network National<br />
Date of creation September 2005<br />
Employees 1<br />
Legal status Project run by CONNECT Latvia<br />
Hosting organisation CONNECT Latvia<br />
Formal partner organisations Latvian Investment and Development agency<br />
Funding sources (foreseen):<br />
5%<br />
20%<br />
75%<br />
Public National<br />
Fees from<br />
Business Angels<br />
and enterprises<br />
Other (sponsors)<br />
2005<br />
Number of projects submitted -<br />
Number of Angels -<br />
Number of deals made -<br />
Average amount of the deal -<br />
Matching products of the network:<br />
• Networking events for investors<br />
• Personal introduction (on a one-to-one basis)<br />
• Financial forums<br />
• Mail presentation to all private investors<br />
• Assistance in preparation of a business proposal summary<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Visits / meetings with enterprises / entrepreneurs<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
• Partnerships with universities, academies/colleges, science parks; public relations,<br />
direct mailings.<br />
Fees:<br />
o No fees charged to entrepreneurs or business angels<br />
113
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
LUXEMBOURG <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong><br />
Contact person Chris VIGAR, CEO<br />
Contact details BP 823<br />
L-2018 Luxembourg<br />
T: +352 404 034 455<br />
F: +352 291 030<br />
E: chris@lban.lu<br />
W: www.lban.lu<br />
Type of network Non profit organisation<br />
Date of creation November 2004<br />
Employees 0<br />
Legal status Asbl<br />
Hosting organisation LBAN asbl<br />
Formal partner organisations Chamber of Commerce, Ministry of the<br />
Economy, Luxinnovation, CRP HT,<br />
FirstTuesday<br />
Funding sources:<br />
5% 10%<br />
85%<br />
Public National<br />
Fees from Business<br />
Angels and<br />
enterprises<br />
Other (sponsors)<br />
2004<br />
Number of projects submitted 3<br />
Number of Angels 8<br />
Number of deals made -<br />
Average amount of the deal -<br />
Matching<br />
products of the network:<br />
• Computerised data-base matching<br />
service<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment forum / fairs<br />
• Networking events for investors<br />
• Mail presentation to all private investors<br />
• Contacts to potential Business Angels within<br />
two weeks after first contact<br />
• Newsletter<br />
• Direct introduction<br />
2005<br />
How<br />
are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national<br />
media<br />
• Established co-operation with local<br />
banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
114
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Other: Partnerships with universities, academies/colleges, science parks; public<br />
relations, direct mailings.<br />
• Personal network of the board as well as its members<br />
• Word of Mouth<br />
Fees:<br />
o Fees charged to entrepreneurs: 120 EUR for each introduction<br />
o Fees charged to business angels: 100 EUR annually<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
n/a<br />
Success story:<br />
n/a<br />
115
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MALTA<br />
MBAN is the first business angel network set up on the island.<br />
2005<br />
Due to Malta’s relatively small size and island status, along with an undeveloped capital<br />
venture market both formal and informal, in an environment where entrepreneurship is often<br />
mentioned but not yet culturally firmly established, it was deemed essential to create the<br />
necessary structures in a way that maximises the efficient use of available support and<br />
incentives, stimulating the dynamism of the Maltese economy so that it can better sustain<br />
formal business angel activities through a network.<br />
With this in mind, along with the facts that Malta has a very limited local market, and<br />
knowledge that local business angels have an eye for foreign investments along with local<br />
entrepreneurs seeking to establish themselves in markets outside of the domestic one, it was<br />
decided to create MBAN in such a way that it could gather various synergistic aspects together<br />
under one roof whilst allowing for market expansion throughout the Mediterranean and<br />
Europe.<br />
2. Background statistics<br />
2003 Mid-2004<br />
Number of BANs 1 1<br />
Number of non-commercial BANs 0 0<br />
Number of commercial BANs 1 1<br />
3. BAN legal status<br />
MBAN is a private limited company registered in Malta and is a national representative for<br />
BA's (Business Angels) and BA syndicates.<br />
4. National association<br />
None as MBAN is the only BAN in Malta.<br />
5. Dissemination of the BAN concept<br />
Two pronged educational and awareness programme targeted directly at stimulating the BA<br />
and entrepreneurship markets both of which need to be available for this endeavour to<br />
succeed. These will take the form of seminars, training sessions and resources, provided and<br />
supported by sponsoring organisations and individuals. In addition MBAN maintains a website<br />
which will be expanded to include online forums.<br />
6. EU Support<br />
None<br />
7. EBAN Members<br />
MBAN<br />
116
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MBAN<br />
2005<br />
Contact person ALLMARK Pamela<br />
Contact details 101, St. Ursula Street<br />
Valletta VLT 06<br />
T: 356 2142 3148<br />
F: 356 2540 1147<br />
E: pamela.allmark@mban.biz<br />
W: www.mban.biz<br />
Type of Network National<br />
Date of creation July 2003<br />
Legal Status of BAN Private Company<br />
Funding Sources:<br />
95%<br />
5%<br />
Sponsors<br />
Equity<br />
2004<br />
Number of projects submitted 15<br />
Number of Angels 4<br />
Number of deals made n/a<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Online database<br />
• Online discussion groups<br />
• Events, seminars, training courses<br />
• Educational programs<br />
• Awareness programs<br />
• Presentation dinner events<br />
Fees:<br />
o Business Angel fee: MLT 200<br />
o Entrepreneur: MTL 50<br />
NB: Because many aspects of the running of MBAN at a management level are also<br />
automated through the system, the platform will also provide for the ability of BA’s to form and<br />
manage their own syndicates, also online using exactly the same setup.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
n/a<br />
Success story:<br />
n/a<br />
117<br />
M
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
NORWAY<br />
Until October 2003, VentureLab, created in February 2001, was acting as the national network<br />
of Norway. Late 2003, VentureLab, www.myventurelab.com ,together with the Seed Forum<br />
Norway and Seed Forum Alumni, have organised a new entity called NorBAN.<br />
NorBAN is now the national Norwegian network organisation for business angels. The purpose<br />
of NorBAN us to be an interest organisation for private investors, to organise and to take the<br />
initiative to establish local and regional business angel networks as local organisations in<br />
NorBAN, to develop and carry out systems for matchmaking between entrepreneurs and<br />
private investors and to work for the reduction of risk among private investors.<br />
NorBAN organises “Road shows” to start up regional BAN structures in at least 7-10 regions.<br />
The shows are organised in cooperation with Seed Forum Norway - the Norwegian national<br />
tool to finance Norwegian early stage companies with (foreign) private equity<br />
www.seedforumnorway.com - and possibly in cooperation with Innovation Norway (national<br />
coordinator) and SIVA as the national coordinator for the local innovation centres.<br />
2. Statistics<br />
2000 2001 2002 Mid 2003* Mid 2004<br />
Number of BANs - 1 1 3 7<br />
Number of Business Angels - 100 125 175 n/a<br />
Number of deals - 3 2 3 n/a<br />
Number of accredited projects - 50 30 30 n/a<br />
Number of commercial BANs - 1 1 1 n/a<br />
Number of non-commercial BANs - - - 2 n/a<br />
Number of national BANs - 1 1 1 1<br />
Number of regional BANs - - - 2 6<br />
National association - - - - 1<br />
3. Funding Sources<br />
n/a<br />
4. BAN legal status<br />
Membership organisation.<br />
5. National association<br />
Contact person for NorBAN<br />
Steinar Hoel Korsmo<br />
Gaustadallèen 21<br />
N-0349 Oslo<br />
T: +47 92 01 14 15<br />
F: +47 92 17 40 32<br />
E: steinar@seedforumnorway.com<br />
118
6. Lobbying<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
As an interest organisation for private investors, NorBAN seeks to promote tax incentives for<br />
business angels, establish new BAN structures and a national seed capital scheme.<br />
7. EU support<br />
None<br />
8. EBAN members<br />
ArticBAN<br />
ROBAN<br />
119
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ArticBAN<br />
2005<br />
Contact person Erling Adelstein Bortne<br />
Contact details Teknologiveien 10<br />
N-8517 Narvik<br />
Norway<br />
T: +47 769 672 00<br />
F: + 47 769 672 01<br />
E: erling.bortne@vinn.no<br />
W: www.vinn.no / www.etablerer.no<br />
Type of network Regional network: North of Norway,<br />
covering the counties of Nord Trondelag,<br />
Nordland, Troms og Finnmark<br />
Date of creation 2003<br />
Number of Employees 1<br />
Legal status Private foundation<br />
Hosting organisation VINN (North Norwegian Institute of<br />
Technology and Innovation), created in<br />
1956 as a private foundation.<br />
Funding Sources:<br />
8%<br />
10%<br />
25%<br />
8%<br />
50%<br />
Regional funds<br />
National Funds<br />
Fees from<br />
business angels<br />
Sponsors<br />
Fees from<br />
entrepreneurs<br />
2004<br />
Number of projects submitted 18<br />
Number of Angels 4<br />
Number of deals made 5<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
120<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
On behalf of the Ministry of Trade and Industry, VINN runs several services targeted to<br />
entrepreneurs and businesses; a national toll free help desk service for companies,<br />
www.bedin.no - a portal for business information, www.etablerer.no - a national net-based<br />
start-up school and meeting place for entrepreneurs.<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: less than 100€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
n/a<br />
Success story:<br />
n/a<br />
121
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ROBAN (Rogaland BAN)<br />
Contact person Svein Dybdahl<br />
Contact details C/o Synergia AS, Professor Olvav<br />
Hanssensvei 11<br />
Po Box 8034<br />
4068 Stavanger<br />
T: +47 51 87 43 09<br />
F: +47 51 87 43 24<br />
E: dybdahl@synergia.no<br />
W: www.roban.no<br />
Type of network Regional: South-west of Norway<br />
including the counties Rogaland,<br />
Hordaland, Sogn og Fjordane, Møre &<br />
Romsdal, Vest- og Aust Agder<br />
Date of creation June 2003<br />
Number of employees 2<br />
Legal Status Non-profit department of Synergia AS<br />
Formal partner organisations Rogaland County Council,<br />
(www.rogaland-f.kommune.no),<br />
Rogaland Science Park<br />
(www.kunnskapsparken.no) Norwegian<br />
Industrial and Regional Development<br />
Fund Rogaland (www.snd.no)<br />
Hosting organisation Synergia AS<br />
Funding Sources (Mid-2003):<br />
Private<br />
companies<br />
42%<br />
Fees from<br />
Enterpreneur<br />
s<br />
13%<br />
Regional<br />
County<br />
Authorities<br />
42%<br />
Fees from<br />
Bas<br />
3%<br />
2003 Mid 2004<br />
Number of projects submitted n/a n/a<br />
Number of Angels n/a n/a<br />
Number of deals made n/a n/a<br />
Average amount of the deal n/a n/a<br />
Matching products of the network:<br />
• Meetings between the BAs and the entrepreneurs 4 times a year<br />
• Electronic as a foreplay to the meetings<br />
Fees:<br />
o Entrepreneurs: NOK 3000 for registration and presentation for BAS plus 2.5% of the<br />
company if a match is successful and the company prosper.<br />
o BAs: NOK 1000 yearly fee for the first year, NOK 2000 for second and NOK 3000 for third<br />
122<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CONNECT VEST NORGE<br />
Contact person Kjell Hilde<br />
Contact details<br />
St. Jakobsplass 9<br />
5008 BERGEN<br />
T: +47 5521 2890<br />
Mob: 9134 7976<br />
E: kjell.hilde@connectvest.no<br />
W: www.connectvest.no /<br />
www.connectnorge.org<br />
Type of network Regional network<br />
Hosting organisation Connect NORGE<br />
Partner organisation Innovation Norway<br />
CONNECT Vest Norge has no formal function as a BAN. During the latest three years they<br />
have though arranged for several CONNECT Financial Forums both national and regional<br />
where also typical angels has participated.<br />
Together with Innovation Norway (Government based and national leading<br />
Organization for innovation in Norway), they will during the next months try to establish a BAN<br />
in Bergen and the surrounding region.<br />
CONNECT Vest Norge is a part of Norwegian CONNECT including networks in Oslo,<br />
Trondheim and Tromsø as well as Bergen.<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CONNECT OSTLANDET<br />
Contact person Jorun Pedersen<br />
Contact details Gaustadalleen 21<br />
0349 Oslo<br />
T: +47 926 31 425<br />
F: +47 908 25 434<br />
E: post@connectostlandet.org<br />
W: www.connectostlandet.org<br />
Type of network Regional network, part of a national<br />
network<br />
Date of creation September 2002<br />
Number of Employees 2<br />
Legal status: Membership organisation<br />
Funding Sources:<br />
30% 30%<br />
30%<br />
European Funds<br />
Sponsors -<br />
members<br />
National Funds<br />
2003 Mid 2004<br />
Number of projects submitted 4 4<br />
Number of Angels - n/a<br />
Number of deals made - 1<br />
Average amount of the deal - n/a<br />
Matching services of the network:<br />
• Meetings<br />
• Investment forums and fairs<br />
Fees:<br />
o No fees charged to entrepreneurs or business angels<br />
124
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
POLAND – PolBAN<br />
2005<br />
Contact person Wojciech Dolkowski<br />
Contact details 85-766 Bydgoszcz, ul. Fordonska 393<br />
T: +48 52 347 14 81, +48 604 244 199<br />
F: +48 52 347 23 25<br />
E: wojciech.dolkowski@polban.pl<br />
W: www.polban.pl<br />
Type of network National network<br />
Date of creation 14 December 2003<br />
Number of Employees n/a<br />
Legal status Not-for-profit association<br />
Formal partners Fundusz Mikro, Polish Private Equity<br />
Association, Szukam-Inwestora.com<br />
Funding Sources:<br />
30%<br />
10%<br />
10%<br />
50%<br />
European Funds<br />
Fees from<br />
business angels<br />
Sponsors -<br />
members<br />
National Funds<br />
2003 2004<br />
Number of projects submitted 3 35<br />
Number of Angels 0 21<br />
Number of deals made 0 1<br />
Average amount of the deal - 150.000€<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
n/a<br />
125<br />
M
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
Confidential Insurance/IT Feb 05 150.000 1 N/a N/a<br />
126<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
LEWIATAN <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
2005<br />
Contact person Michal Olszewski<br />
Contact details Polska Konfederacja Pracodawców<br />
Prywatnych Lewiatan Ul. Flory 4/9<br />
00-586 Warszawa<br />
T: +48 22 565 20 60<br />
F: +48 22 565 20 80<br />
E: info@lba.pl<br />
W: www.lba.pl<br />
Type of network National network<br />
Date of creation May 2005<br />
Employees 1<br />
Legal status Non-profit organization<br />
Hosting organisation Polska Konfederacja Pracodawców<br />
Prywatnych Lewiatan<br />
Formal partner organisations Polish Confederation of Private Employers,<br />
PriceWaterhouseCoopers<br />
Funding sources:<br />
20%<br />
80%<br />
Public National<br />
Other (sponsors)<br />
2005<br />
Number of projects submitted -<br />
Number of Angels -<br />
Number of deals made -<br />
Average amount of the deal -<br />
Matching products of the network:<br />
• Personal introduction (on a one-to-one basis)<br />
• Networking events for investors<br />
• Mail presentation to all private investors<br />
• Contacts to potential Business Angels within two weeks after first contact<br />
How are clients acquired?<br />
• Information events and seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
• Other: Partnerships with universities, academies/colleges, science parks; public<br />
relations, direct mailings.<br />
Fees:<br />
n/a<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
PORTUGAL<br />
1. Background information on BAN activity in Portugal<br />
2005<br />
The BAN activity in Portugal is still taking its first steps, and there isn’t any legal and official<br />
framework for this kind of investments. However, Gesventure has developed the first and<br />
unique BAN and is still working on the concept recognition from the public and official entities.<br />
2. Statistics<br />
2000 2001 2002 2003 2004<br />
Number of BANs 1 1 1 1 1<br />
Number of Business Angels 10 14 16 18 21<br />
Number of deals 1 1 1<br />
Number of accredited projects 6 4 5 5 6<br />
Number of commercial BANs 1 1 1 1 1<br />
Number of non-commercial BANs - - - - -<br />
Number of national BANs 1 1 1 1 1<br />
Number of regional BANs - - - - -<br />
National association - - - - -<br />
3. BAN legal status<br />
n/a<br />
4. National association<br />
None.<br />
5. Lobbying<br />
No lobbying activities.<br />
5. National/regional Support<br />
None.<br />
6. EU support<br />
No<br />
7. Dissemination of the BAN concept<br />
Gesventure organises since 1999 the “Encontros Gesventure” (Gesventure Meetings), an<br />
annual conference that takes place in December about Business Angels, Start-Up’s,<br />
Entrepreneurs and existing incentives. We also organize an international conference, the<br />
Venture Capital IT, more related to venture capital dissemination but also important for BAN<br />
diffusion. Besides our conferences, we often participate in other conferences and room<br />
classes and organize regular private meetings within our Business Angels Club. Gesventure<br />
also owns two websites with plenty information about venture capital, business angels and<br />
entrepreneurship: www.businessangelsclub.com and www.gesventure.pt<br />
8. EBAN members<br />
Gesventure – Business Angels Club<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
GESVENTURE<br />
2005<br />
Contact person Francisco Banha<br />
Rua 7 de Junho de 1759 n°1 Lagoal<br />
2760-110 Caxias<br />
T: +351 214 416 460<br />
F: +351 214 417 387<br />
E: Fbanha@gesbanha.pt<br />
W: www.gesventure.pt<br />
www.businessangelsclub.com<br />
Type of network National<br />
Date of creation 1999<br />
Number of Employees 3<br />
Partner organisations Chausson Finance, Alta Partners,<br />
Global Startup<br />
Funding Sources: n/a<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted 6 4 5 5 13<br />
Number of Angels 10 14 16 18 21<br />
Number of deals made 1 0 1 0 1<br />
Average amount of the deal 300.000€ n/a 200.000€ n/a 150.000€<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
2000 2001 2002 2003 2004<br />
Projects<br />
Angels<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Personal Contacts<br />
Fees:<br />
o No fees charged to entrepreneurs or business angels except for a success fee in case a<br />
deal is closed<br />
129<br />
Deals<br />
M
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SPAIN<br />
2005<br />
A number of Spanish regions including Navarra, Catalunya, Valencia, Madrid, Andalusia and<br />
Castilla y Leon have expressed an interest in setting up regional BANs since 1997-1998. As<br />
per today, the majority of business angel networks identified in Spain operate in Catalunya.<br />
CIDEM BAN, the main BAN in Spain and established in Catalunya, will no longer offer its<br />
services to entrepreneurs and business angels and will refocus its positioning to become a<br />
network of networks in Catalunya.<br />
CIDEM has implemented a policy with the aim of creating and developing business angel<br />
networks in Catalunya. Currently, 11 BANs are under the CIDEM’s umbrella. CIDEM also<br />
carries out other initiatives related to business angels such as guides to informal investment,<br />
monthly meetings, business angels academies and investment forums.<br />
2. Statistics<br />
2000 2001 2002 2003 2004<br />
Number of BANs 1 1 2 4 20<br />
Number of Business<br />
Angels<br />
(11 in Catalunya)<br />
58 65 93 180 356 (other catalan BANs) +<br />
176 (CIDEM BAN) + 48 (other Spanish<br />
networks)<br />
Number of deals 3 8 10 24 8 (other catalan BANs) +<br />
32 (CIDEM BAN) + 3 (other Spanish<br />
Number of accredited<br />
projects<br />
networks)<br />
88 171 190 247 216 (other catalan BANs) +<br />
424 (CIDEM BAN) + 86 (other Spanish<br />
networks)<br />
- - - - 2<br />
Number of commercial<br />
BANs<br />
Number of non-commercial 1 1 2 4 9 (Catalunya) +<br />
BANs<br />
9 (other Spanish networks)<br />
Number of national BANs 0 0 0 0 5 (other catalan BANs)<br />
Number of regional BANs 1 1 2 4 6 (Catalan BANs)<br />
+ 9 other Spanish members<br />
National association 0 0 0 0 2 (CIDEM and ESBAN)<br />
Note: The information displayed is the one collected from the networks – therefore all<br />
categories represent the minimum number as we are lacking some information.<br />
Two BA Schools, organized by CIDEM, have taken place in 2004 with 90 attendants.<br />
In December, the CIDEM BAN organized the 10 th Venture Capital Forum as an act of the<br />
Innovation Week. 12 entrepreneurs/managers presented their ideas/firms in order to raise<br />
funds besides contacting futures employees, raising brand awareness and fostering their<br />
networking opportunities. A book with information about 90 projects was also edited. Near to<br />
300 investors attended the event.<br />
3. BAN legal status<br />
130
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Most of BANs of the country have opted for the non for profit organisation status or are part of<br />
the regional administration. BCN BA and Alta Partners are commercial BANs.<br />
4. EU support<br />
� Awareness actions<br />
European Union support in Spain has made it possible to organise two awareness seminars<br />
on the BA concept. One was organised jointly in Valladolid by Castilla y Leon RDA and<br />
IBERAVAl, a mutual guarantee firm. The other seminar was held in Malaga under the aegis of<br />
the Malaga Business Innovation Centre (Andalusia).<br />
� Pilot projects<br />
Three projects received financial assistance from the European Commission with a view to<br />
setting up operational BANs. The recipients of these subsidies were:<br />
- Instituto Aragonés de Fomento<br />
- CIDEM, Catalunia's development agency<br />
- Alta New Venture<br />
5. EBAN members<br />
CIDEM<br />
BANC<br />
UNIBAN<br />
BAN Madrid<br />
BANG<br />
ESBAN<br />
131
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CIDEM<br />
2005<br />
Contact person Roger Piqué, Oriol Sans<br />
Contact details C/ Passeig de Gràcia 129<br />
08008 Barcelona<br />
Catalunya<br />
T: + 34 93 476 7317<br />
F: +34 93 476 7233<br />
E: rpique@cidem.gencat.net<br />
osans@cidem.gencat.net<br />
W: www.cidem.com<br />
Type of network Regional: Catalunya region.<br />
Date of creation June 2000<br />
Employees 4<br />
Legal status Governmental network<br />
Hosting organisation Cidem<br />
Formal partner organisations Alta Partners - XARXAP, BANC (CECOT),<br />
ESADE - Club d’emprenedors i Inversors,<br />
PimecSefes, UPC Programa Innova –<br />
BAXI, BCN Business Angels, IESE BAN,<br />
Club d’Inversors La Salle, PIMEC Capital,<br />
Esfera UAB, XIP Mataró BAN, XIPJEC<br />
Funding sources<br />
100%<br />
Public<br />
Funds<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted 88 171 190 247 424<br />
Number of Angels 58 65 83 154 angels 176 angels<br />
47 VC firms 60 VC firms<br />
121 consultants 145 consultants<br />
Number of deals made 3 8 10 24 32<br />
Average amount of the deal n/a n/a n/a 6.200.000€ (total)<br />
Average 259.000€<br />
477.000 €<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
2000 2001 2002 2003 2004<br />
132<br />
Projects<br />
Angels<br />
De als<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching products of the network:<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment clubs. Club CIDEM (breakfast monthly)<br />
• Investment forum / fairs. 1 early stage forum<br />
• Internet<br />
• Meetings<br />
• Formation to entrepreneurs and investors<br />
How are clients acquired?<br />
• Information events / seminars. BA School<br />
• Articles in local / national Press<br />
• Established co-operation with financing institutions / lawyers / Corporate finance firms.<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
CIDEM BAN, in Catalunya, will no longer offer its services to entrepreneurs and business<br />
angels and will refocus its positioning to become a network of networks in Catalonia (National<br />
Network).<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
133
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ALICANTE EMPRENDE<br />
2005<br />
Contact person Vincent Fuerte<br />
Contact details C/ Francisco Verdú, 30 bajo dch.<br />
03009 Alicante<br />
T: +34 659 42 09 43<br />
F: +34 965 15 95 16<br />
Email: E: inversor@clubabant.com<br />
Website: W: www.clubabant.com<br />
Type of network Local Network<br />
Date of creation 29/03/2003<br />
Number of Employees 7<br />
Legal status Private Network<br />
Hosting organisation 3 DID’S<br />
Partner organisations 3 DID’S, Cuatrecasas, Talde, Fundesem,<br />
Beta Capital<br />
Funding Sources:<br />
83%<br />
15%<br />
2%<br />
European<br />
Funds<br />
National Funds<br />
Regional Funds<br />
2004<br />
Number of projects submitted 26<br />
Number of Angels 28<br />
Number of deals made 3<br />
Average amount of the deal 320.000 €<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 16<br />
134
Success story:<br />
Name of<br />
company<br />
Agua<br />
Nafree<br />
Sector of<br />
activity<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Alimentary 10/05/2003 260.000 1<br />
135<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BANC<br />
2005<br />
Contact person: Albert Colomer; Jordi Clos<br />
Contact details San Pau 6<br />
08221 Terrasa Barcelona<br />
T: + 34 93 490 8860<br />
F: +34 93 7366013<br />
E: acolomer@bancat.com ;<br />
jclos@bancat.com<br />
W: www.bancat.com<br />
Type of network Regional Network: Catalunya region.<br />
Date of creation 21 st July 2002<br />
Employees 2<br />
Legal status Non profit organisation<br />
Hosting organisation Patronal CECOT/ Fundación CP’AC<br />
Formal partner organisations Catalan Government<br />
Funding sources:<br />
60%<br />
15%<br />
25%<br />
Fees from<br />
entrepreneurs<br />
Fees from<br />
business angels<br />
Public/European<br />
Funds<br />
2002 2003 2004<br />
Number of projects submitted 8 54 63<br />
Number of angels 10 40 57<br />
Number of deals made n/a 1 4<br />
Average amount of deals n/a 120.000€ 135.000€<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
2002 2003 2004<br />
Matching products of the network:<br />
• Personal introduction (on a one-to-one basis)<br />
• Web site application<br />
• Investment forum / fairs<br />
136<br />
Projects<br />
Angels<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Direct mailing advertisement<br />
• Visits to enterprises<br />
• Articles in local / national Press<br />
• Established co-operation with local banks / financing institutions / accountants<br />
Fees:<br />
o Fees from business angels as well as from entrepreneurs.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
17 jobs in 4 deals.<br />
Success story:<br />
Name of<br />
company<br />
Sector of activity Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
WINBOL Computer related 1<br />
SAMCLA Engineering 1<br />
Terceros<br />
de<br />
Confianza<br />
Computer related 1<br />
Inspecta Artificial vision 1<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)<br />
All of these enterprises are young SMEs. In 4 years we hope to have information about the<br />
real growth and return for every investor.<br />
137
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BANG<br />
Contact person Jose Calvo Caneiro<br />
Contact details Praza das Damas, 1<br />
32005 Ourense<br />
T: +34 98 83 91 110<br />
F: +34 98 83 91 957<br />
E: businessangels@red-bang.net<br />
W: www.red-bang.net<br />
Type of network Regional Network: Galicia<br />
Date of creation 09/01/2004<br />
Number of Employees 3<br />
Legal status Non-Profit organisation<br />
Hosting organisation Confederacion de empresarios de<br />
Ourense<br />
Funding Sources:<br />
55%<br />
3%<br />
8%<br />
34%<br />
Fees from<br />
entrepreneurs<br />
Fees from<br />
business angels<br />
Other - sponsors<br />
Regional Funds<br />
Mid 2004<br />
Number of projects submitted n/a<br />
Number of Angels n/a<br />
Number of deals made n/a<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Entrepreneurs less than 100; Business angels: between 100€ and 500€<br />
138<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAN Madrid<br />
Contact person Miguel Palacios Fernandez<br />
Contact details C/José Gutiérrez Abascal 2<br />
28006 Madrid<br />
T: +34 91 336 42 64<br />
F: +34 91 336 30 05<br />
E: mipalacios@etsii.upm.es<br />
2005 M<br />
Eduardo Díaz<br />
Velázquez, 76<br />
28001 Madrid<br />
T: +34 917816573<br />
F: +34 915766052<br />
E: ediaz@madrimasd.org<br />
W: www.madrimasd.org/emprendedores/<br />
Type of Network Regional/Madrid<br />
Date of creation n/a<br />
Number of Employees n/a<br />
Legal status n/a<br />
Hosting organisation: Regional Government of Madrid<br />
Partner organisations n/a<br />
Funding Sources:<br />
100%<br />
European Funds<br />
2004<br />
Number of projects submitted 15<br />
Number of Angels 5<br />
Number of deals made 0<br />
Average amount of the deal -<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Alumni Clubs<br />
139
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: less than 100€<br />
o Fees charged to business angels: less than 100€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
140
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BAXI –<br />
Xarxa d'inversors del Programa Innova-Universitat<br />
Politècnica de Catalunya<br />
Contact person Mireia de la Rubia.<br />
Contact details Jordi Girona<br />
29. Edifici Nexus II<br />
08034 Barcelona<br />
T: + 34 93 413 76 23<br />
E: mireia.de.la.rubia@upc.es<br />
W: http://pinnova.upc.es<br />
Type of network Regional, Catalonia Region<br />
Date of creation September 2004<br />
Number of Employees 2<br />
Legal status Not for profit<br />
Hosting organisation Programa Innova UPC<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
n/a<br />
2005<br />
Mid 2004 2004<br />
Number of projects submitted 3 90<br />
Number of Angels 15 17<br />
Number of deals made 0 2<br />
Average amount of the deal 0 € 522.000<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs and business angels.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
141
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BCN BA<br />
2005<br />
Contact person Antoni Sala<br />
Diputació, 238, 4t 7a<br />
08007 Barcelona<br />
T: +34 93 581 33 14<br />
E: a.sala@bcnba.com<br />
W: www.bcnba.com<br />
Type of network Regional, Catalonia Region. National.<br />
Date of creation September 2004<br />
Number of Employees 3<br />
Legal status For profit<br />
Hosting organisation BCN BA<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
100%<br />
Fees from<br />
business<br />
angels<br />
2004<br />
Number of projects submitted 120<br />
Number of Angels 20<br />
Number of deals made 2<br />
Average amount of the deal € 561.500<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
142
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o No fees charged to entrepreneurs.<br />
o Fees charged to business angels: more than 500€<br />
o Other payment services as company valuations, business plans, portfolio management,<br />
exit strategy implementation etc.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
143
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Xarxa d’inversors IESE<br />
Contact person: Neus Martínez<br />
Contact details Av. Pearson, 16<br />
08034 Barcelona<br />
T: +34 93 253 42 00<br />
E: martinezn@iese.edu<br />
W: www.iese.edu<br />
Type of network Catalunya and Madrid Region<br />
Date of creation September 2003<br />
Number of Employees 3<br />
Legal status Not for profit<br />
Hosting organisation IESE<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
n/a<br />
2004<br />
Number of projects submitted 148<br />
Number of Angels 181<br />
Number of deals made 5<br />
Average amount of the deal € 677.000<br />
Matching services of the network:<br />
• Investment forums and fairs: X 4<br />
2005<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
o IESE BAN Membership is free for IESE members. For outstanding investors who are not<br />
IESE members, the requirement is to join the association. Automatically, they have access<br />
to all services provided by the Association, and to the network.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
144
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
XARXA D’INVERSORS LA SALLE<br />
2005<br />
Contact person Xavier Capellades<br />
Contact details Quatre Camins, 18-34<br />
08022 Barcelona<br />
T: +34 93 290 24 73<br />
E: xcapellades@salleurl.edu<br />
W: www.salleurl.edu<br />
Type of network Regional, Catalunya Region<br />
Date of creation September 2004<br />
Number of Employees 3<br />
Legal status Non for profit<br />
Hosting organisation La Salle Technological and Business<br />
Innovation Park<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
30%<br />
70%<br />
Regional Funds<br />
Other: Park<br />
Founds<br />
2003 2004<br />
Number of projects submitted 0 48<br />
Number of Angels 2 22<br />
Number of deals made 0 1<br />
Average amount of the deal 0 200.000 €<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
Fees:<br />
o No fees charged to entrepreneurs and business angels.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
145
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
UNIBAN, University Business Angels Network<br />
2005<br />
Contact person Luis Fernández<br />
Lope Gómez de Marzoa s/n (Edificio FEUGA -<br />
Despacho 1)<br />
15705 Santiago de Compostela<br />
T: +34 981 563 100 Ext. 16844<br />
F: +34 981 54 70 77<br />
E: uniban@usc.es<br />
W: www.uniban.org<br />
Regional Network Galicia region (SPAIN)<br />
Date of creation November 2003<br />
Number of Employees 3<br />
Legal status Not-for-profit<br />
Hosting organisation: University of Santiago de Compostela<br />
(Entrepreneurship program UNIEMPRENDE)<br />
Funding Sources:<br />
30%<br />
5%<br />
5%<br />
60%<br />
Fees from<br />
entrepreneurs<br />
Fees from<br />
business angels<br />
O ther - sponsors<br />
Regional Funds<br />
2003 2004<br />
Number of projects submitted 5 45<br />
Number of Angels 12 15<br />
Number of deals made n/a 0<br />
Average amount of the deal n/a 0<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• UNIEMPRENDE: the entrepreneurial program of the University of Santiago de<br />
Compostela (awards, incubator, seminars,…)<br />
146<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: less than 100€.<br />
o Fees charged to business angels: less than 100€.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
147
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
XARXA D’INVERSORS D’ALTA PARTNERS<br />
Contact person Marta Perpiñá<br />
Contact details Av. Diagonal, 399, pral 2a,<br />
08008 Barcelona<br />
T: +34 93 238 72 30<br />
E: mperpinya@altap.com<br />
W: www.altapartners.es<br />
Type of network Catalonia Region. National.<br />
Date of creation September 2004<br />
Number of Employees 2<br />
Legal status For profit<br />
Hosting organisation Alta Partners<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
n/a<br />
2004<br />
Number of projects submitted 8<br />
Number of Angels 35<br />
Number of deals made 1<br />
Average amount of the deal 600.000 €<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Specific service for business angels<br />
How are clients acquired?<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Entrepreneurs Contests<br />
Fees<br />
o Fees of 3-4% charged to business angels and entrepreneurs.<br />
o Other payment services such as company valuations, business plans, etc.<br />
2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
148
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
XIP MATARÓ<br />
Contact person Carles Fillat, Òscar Valdivielso<br />
Contact details C/ Herrera nº 70<br />
08301 - Mataró [Barcelona]<br />
T: +34 93 758 26 40<br />
E: xipmataro@ajmataro.es<br />
W: www.laincubadora.com<br />
Type of network Regional - Catalonia Region<br />
Date of creation January 2005<br />
Number of Employees 1<br />
Legal status Not for profit<br />
Hosting organisation Mataró City Council<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
100%<br />
Public<br />
funds<br />
2005<br />
2004<br />
Number of projects submitted 8<br />
Number of Angels 5<br />
Number of deals made 0<br />
Average amount of the deal -<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises and local chambers of commerce<br />
• Articles in the regional press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Formation programmes<br />
Fees:<br />
o 1% fee charged to entrepreneurs (pending of approval)<br />
149
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
150
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Club d’Emprenedors, Empresaris y Inversors d’ESADE<br />
Contact person Maite Usón<br />
Contact details Avda. D’Esplugues 92-96<br />
Edifici 3 d’ESADE<br />
08034 Barcelona<br />
T: +34 93 280 61 62<br />
E: uson@esade.edu<br />
W: www.esade.edu<br />
Type of network Regional, Catalonia Region. National<br />
Date of creation January 2005<br />
Number of Employees 1<br />
Legal status Non for profit<br />
Hosting organisation ESADE Business School<br />
This BAN belongs to CIDEM development BANs Program.<br />
Funding Sources:<br />
100%<br />
Public<br />
funds<br />
2004<br />
Number of projects submitted 0<br />
Number of Angels 0<br />
Number of deals made 0<br />
Average amount of the deal -<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Investment clubs<br />
• Investment forums and fairs<br />
• Entrepreneurs contests<br />
How are clients acquired?<br />
• Alumni from ESADE Business School<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Networking events<br />
Fees:<br />
o No fee charged to entrepreneurs.<br />
2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
151
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SLOVENIA<br />
Slovenian Business Angels Club is a joint project of Podjetnik (entrepreneur magazine) and<br />
Small Business Development Centre (SBDC). It is a non-profit association. A certain amount<br />
of funding was secured through the budget of Slovenian government. In its first year of activity<br />
(2001/2002) the network was focused mainly on promotion of the concept.<br />
2. Statistics<br />
2001 2002 2003 2004<br />
Number of BANs 1 1 1 1<br />
Number of Business Angels 11 21 21 25<br />
Number of deals 2 2 - 1<br />
Number of accredited projects 51 66 79 98<br />
Number of commercial BANs - - - -<br />
Number of non-commercial BANs 1 1 1 1<br />
Number of national BANs 1 1 1 1<br />
Number of regional BANs - - - -<br />
National association - - - -<br />
3. BAN legal status<br />
2005<br />
Business Angels Club is placed in the SBDC strategy as an additional financial mechanism for<br />
promoting the business development. It is connected with other projects like voucher system<br />
of consulting and e-work.<br />
4. National association<br />
Business Angels Club is the only BAN in Slovenia operating at the national level.<br />
5. Lobbying<br />
Business Angels Club is connected with partners at national level (Network of Local Business<br />
Centres, Regional development agencies), Universities, Technology Parks and Financial<br />
Institutions.<br />
6. National/regional Support<br />
Slovenian Business Angels Club has financial support from Slovenian government.<br />
7. EU support<br />
The EU does not financially support Slovenian Business Angels Club.<br />
8. Dissemination of the BAN concept<br />
• Regular Business Angels Club’s activities;<br />
• Informing the entrepreneurs about financing possibilities for their projects with informal<br />
venture capital;<br />
• Promotion activities by publishing articles in SLEVCA Novice/News, Podjetnik –<br />
Entrepreneurial Magazine, Kapital - Entrepreneurial Magazine, organising trainings and<br />
seminars for entrepreneurs, attending conferences;<br />
• Running active webpage.<br />
152
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Slovene business angel Club<br />
2005<br />
Contact person Mr. Jaka VADNJAL<br />
Contact details SBDC - Slovene Business Angels Club<br />
WTC – Dunajska 156<br />
1000 Ljubljana<br />
T: +386 1 530 98 04<br />
F: +386 1 589 18 77<br />
E: jaka.vadnjal@pcmg.si<br />
W: www.pcmg.si<br />
Type of network National<br />
Date of creation: 2001<br />
Number of Employees 3<br />
Legal status Project<br />
Hosting organisation SBDC<br />
Funding Sources:<br />
100%<br />
National<br />
Funds<br />
2001 2002 2003 2004<br />
Number of projects submitted 51 66 79 98<br />
Number of Angels 11 21 21 25<br />
Number of deals made 2 2 - 1<br />
Average amount of the deal - 16.000 € - 10.416 €<br />
120<br />
100<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2001 2002 2003 2004<br />
153<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs.<br />
Deals – Slovenia<br />
Deal Sector : Estimated value of the deal<br />
Deal 1 : 2001 Real estate No data<br />
(partners do not want to share the<br />
Deal 2: 2001 (merging of<br />
two companies)<br />
amount of deal with BAC)<br />
Retail No data<br />
(partners do not want to share the<br />
amount of deal with BAC)<br />
16.000 € (share)<br />
Deal 3: 2002 Real estate –<br />
construction & craft<br />
Deal 4: 2002 (invention; IT Technologies No data<br />
software programe)<br />
(partners do not want to share the<br />
amount of deal with BAC)<br />
Deal 5: 2004 (patent in<br />
construction)<br />
Real estate 100.000 €<br />
154
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SWEDEN<br />
2005<br />
The business angel community in Sweden is expanding with increased investments activity<br />
and enhanced cooperation between regional BANs. As the formal VC market now tends to<br />
invest more funds into later stage companies, there is a lack of funding for early stage<br />
businesses. This equity gap has significantly raised the awareness of the business angel<br />
concept in Sweden. In order to further increase business angel investments into early stage<br />
companies, NUTEK – the Swedish Agency for Economic and Regional Growth –has<br />
supported the creation and development of regional BANs in Sweden. A number of BANs are<br />
now operational throughout the country and the cooperation between the BANs is increasing.<br />
Going forward, the Swedish Private Equity & Venture Capital Association (SVCA) will be<br />
responsible for supporting the regional BANs on a national level, as well as for enhancing the<br />
level of knowledge about business angel activities in general.<br />
2. Statistics<br />
2000 2001 2002 2003 2004<br />
Number of BANs 2 1<br />
2 1<br />
2 3<br />
24 ~30<br />
Number of Business Angels 85 140 250 ~5000 ~5000<br />
Number of deals n/a n/a n/a n/a >100<br />
Number of accredited projects n/a n/a n/a n/a n/a<br />
Number of commercial BANs 0 1 1 2 3<br />
Number of non-commercial BANs 1 1 1 21 27<br />
Number of national BANs 0 1 1 0 0<br />
Number of regional BANs 0 5 6 23 ~30<br />
National association 1 1 1 1 1<br />
3. BAN legal status<br />
The majority of BANs are organized as networks within non-profit entrepreneurial networks,<br />
consulting firms or state-supported organisations.<br />
4. National association<br />
In 2002, NUTEK launched a pilot scheme, with the aim of increasing the number of regional<br />
BANs in Sweden, thus supporting the growth of business angel investments in general. At the<br />
end of 2004, close to 30 BANs were already active. Most of the BANs are non-commercial,<br />
hence striving to finance their activities through sponsorships and other financial sources.<br />
In 2005 NUTEK gave the Swedish Private Equity & Venture Capital Association (SVCA) the<br />
mandate to act as a national association for business angels in Sweden and to work as a<br />
support organisation for the regional BANs.<br />
5. Contact<br />
Contact person SVCA: Maria Nilsson<br />
Grev Turegatan 18<br />
114 46 Stockholm<br />
1 For the year 2000 and 2001, we considered that only Norkkoping and ALMI were acting as BANs.<br />
2 About 30 Networks have received funding from NUTEK. 8 are currently in operation and 22 are in the<br />
process of creation.<br />
155<br />
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<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
T: + 46 8 678 30 81 / +46 708 36 22 31 F: + 46 8 678 40 90<br />
E: maria.nilsson@svca.se W: www.svca.se<br />
Contact person: Birgitta Österberg<br />
Liljeholmsvägen 32<br />
117 86 Stockholm<br />
T: +46 8 681 9484; F: +46 8 744 4045<br />
E: birgitta.osterberg@nutek.se; W: www.nutek.se<br />
6. Lobbying<br />
The current tax climate in Sweden does not provide for tax incentives for investing in early<br />
stage companies. SVCA and NUTEK therefore continuously work for a more BA investment<br />
friendly tax environment as well as for simplified regulations, with the aim of attracting more<br />
private capital to entrepreneurial businesses.<br />
7. Dissemination of the BAN concept<br />
NUTEK in cooperation with FSF and University of Lund have started a long-term research of<br />
the Swedish business angel market in order to map the actors in this market and to get a more<br />
accurate picture of the business angel activity in Sweden.<br />
SVCA will continuously work to increase the level of knowledge about the business angel<br />
concept and its importance for growth and development of new businesses. The effort will<br />
include among other things educational activities, creating national BA forums, lobbying as<br />
well as PR activities.<br />
8. EBAN Members<br />
SVCA<br />
NUTEK<br />
156
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CONNECT SKANE<br />
2005<br />
Contact person Nicholas Jacobsson<br />
Contact details Connect Skåne, Box 117, 221 00 LUND<br />
T: +46 222 12 73<br />
Cell: +46 733 70 35 50<br />
E: nj@connectskane.se<br />
Website W: www.connectskane.se<br />
Type of network Regional<br />
Date of creation 2003<br />
Number of Employees 1<br />
Legal status Organisation<br />
Hosting organisation Connect Skåne<br />
Funding Sources:<br />
10%<br />
5%<br />
85%<br />
Fees from<br />
business angels<br />
Other - sponsors<br />
National Funds<br />
2003 2004<br />
Number of projects submitted 4 50<br />
Number of Angels 50 80<br />
Number of deals made 3 7<br />
Average amount of the deal 250.000€ 100 000€<br />
100<br />
80<br />
60<br />
40<br />
20<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
Fees: n/a<br />
0<br />
2003 2004<br />
Projects<br />
Angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
157<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CONNECT VAST<br />
Contact person Björn Sjöholm<br />
Contact details Stena Center 1 A; 412 92<br />
Gothenburg; Sweden<br />
E: bs@connectvast.se<br />
W: www.connectvast.se<br />
Type of network Regional<br />
Date of creation 2000-01<br />
Number of Employees 1<br />
Legal status Filial<br />
Hosting organisation: Connect Väst AB<br />
Funding Sources:<br />
Sponsors: Connect Väst, NUTEK.<br />
2005<br />
2003 2004<br />
Number of projects submitted 32 145<br />
Number of Angels 75 101<br />
Number of deals made 5 23<br />
Average amount of the deal – Swedish Kronor 2.600.000 2.500.000<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2003 2004<br />
Projects<br />
Angels<br />
Deals<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to entrepreneurs or business angels.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
158
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
DALABAN<br />
2005<br />
Contact person Christer Navjord<br />
Contact details DalaBan, Rommehedslägret 1, S-78463<br />
Borlänge, Sweden<br />
E: navjord@bergslagsakademin.se<br />
Type of network Regional network<br />
Date of creation n/a<br />
Number of Employees n/a<br />
Legal status n/a<br />
Funding Sources:<br />
National Funds: 200 Tkr<br />
Regional Funds: 200 Tkr<br />
50%<br />
50%<br />
National Funds<br />
Regional Funds<br />
2004<br />
Number of projects submitted 2<br />
Number of Angels 6<br />
Number of deals made 1<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Meetings<br />
How are clients acquired?<br />
• Targeted publicity<br />
• Visits to enterprises<br />
Fees:<br />
o No fees are charged to entrepreneurs and business angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
159
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Kista Innovation and Growth – KIN<br />
Contact person Pär Hedberg<br />
Contact details Electrum 209<br />
164 40 Kosta<br />
T: +46 708 55 03 18<br />
E: par.hedber@kista.com<br />
W: www.kistainnovation.com<br />
Type of network Local Network<br />
Date of creation October 2003<br />
Number of Employees n/a<br />
Legal status Kommanditbolag<br />
Hosting organisation Kista Innovation & Growth AB<br />
Funding Sources:<br />
50%<br />
50%<br />
Fees from<br />
business angels<br />
Host<br />
organisations<br />
(80% public and<br />
20% sponsors)<br />
2005<br />
2003 2004<br />
Number of projects submitted 2 6<br />
Number of Angels 8 16<br />
Number of deals made n/a 4<br />
Average amount of the deal n/a 400.000€<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Meetings<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Clients com from our own incubator;<br />
• Investors are personally recruited with personnel meetings and they are found via our<br />
own network<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o Fees charged to business angels: less than 100€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
160
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Roslagens Affärsänglar AB<br />
Contact person Lennart Ohlsson<br />
Contact details Roslagens Affärsänglar AB<br />
Campus Roslagen<br />
Kaserngatan 1<br />
S-76146 Norrtälje<br />
E: lennart@roaf.se<br />
W: www.roaf.se<br />
Type of network Regional and local<br />
Date of creation 19/12 2003<br />
Number of Employees 0<br />
Legal status Incorporated<br />
Hosting organisation NIHAB, Campus Roslagen<br />
Funding Sources:<br />
- Fees from business angels<br />
- Sponsor: NUTEK > SEK 200.000 for 2-year period<br />
2003 2004<br />
Number of projects submitted n/a 35<br />
Number of Angels 10 45<br />
Number of deals made n/a n/a<br />
Average amount of the deal n/a n/a<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
2005<br />
How are clients acquired?<br />
• Event and information fairs: Connect, Seed Cap Arena<br />
• Targeted publicity<br />
• Contacts of business angels, courses in venture capital, centre of excellence of a<br />
connected company, specialize network in Stockholm an Uppsala, etc.<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
161
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
30up.com<br />
Contact person Margrethe Höglund<br />
Contact details Mårdvägen 22<br />
S-167 56 Bromma<br />
E: trettioup@netscape.net<br />
Type of network Swedish International network<br />
Date of creation 2003<br />
Number of Employees 0<br />
Legal status Non-profit association<br />
Funding Sources:<br />
50%<br />
National Funds: 175 TSEK<br />
Sponsors and Business Angels:175 TSEK<br />
50%<br />
National<br />
Funds<br />
Sponsors and<br />
business<br />
angels<br />
2004<br />
Number of projects submitted ≈ 100<br />
Number of Angels 250<br />
Number of deals made 3%<br />
Total growth amount 61MSEK<br />
Matching services of the network:<br />
• Active exchange via our Homepage www.30up.com connected to NUTEK<br />
• Meetings<br />
How are clients acquired?<br />
• Entrepreneurs mostly from our Homepage and e.g. Seed Cap Arena meetings<br />
• Business Angels via recommendations and Homepage<br />
• Targeted publicity<br />
• Visits to and meetings with entrepreneurs and Business Angels<br />
Fees: No fees are charged to entrepreneurs and business angels yet<br />
162<br />
2005
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
SWITZERLAND<br />
2005<br />
Switzerland has a long tradition of business angel investment, however business angels did<br />
not organise themselves until the late 90’s.<br />
The first BAN in Switzerland was named Business Angel Club and created in 1997 by Ueli<br />
Stüssi. In the late 90’s and in the beginning of the new century, a number of additional BANs<br />
have been created, private BANs as well as commercial ones. In 2004, Band of Angels<br />
(Schweiz) and Business Angel Club merged into Business Angels Schweiz.<br />
The national association was set up in 2003 under the name Association of Swiss Business<br />
Angel Networks (ASBAN). ASBAN has today 7 active and 2 passive members.<br />
2. Statistics<br />
1999 2000 2001 2002 2003 2004<br />
Number of BANs n/a 7 7 7 7 7<br />
Number of Business Angels 45 110 260 408 n/a n/a<br />
Number of deals 3 6 6 8 n/a n/a<br />
Number of accredited projects 20 139 210 271 n/a n/a<br />
Number of commercial BANs - 2 2 2 2 2<br />
Number of non-commercial BANs - 5 5 5 5 5<br />
Number of national BANs - 3 3 3 3 3<br />
Number of regional BANs - 5 5 5 5 5<br />
National association 0 0 0 0 1 1<br />
3. BAN legal status<br />
Private, non-commercial BANs usually are associations while commercials BANs normally<br />
choose the legal form of an AG (stock corporation).<br />
4. National association<br />
ASBAN<br />
5. ASBAN Funding Sources<br />
100%<br />
163<br />
Fees from<br />
members<br />
M
6. Contact<br />
Contact person: Philipp Oberli<br />
ASBAN, Technoparkstrasse 1<br />
CH-8005 Zürich<br />
T: +41 1 445 24 24<br />
F: +41 1 445 10 01<br />
E: info@asban.ch<br />
W: www.asban.ch<br />
7. Lobbying activities<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ASBAN is actively participating in the opinion building for the revision of the company taxation<br />
law in Switzerland. Furthermore, good contacts to the national government are maintained on<br />
various levels.<br />
8 EU support<br />
None.<br />
9. EBAN members<br />
ASBAN<br />
164
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BrainsToVentures AG (b-to-v)<br />
2005<br />
Contact person Florian Schweitzer<br />
Contact details Blumenaustr. 36, Postfach 142<br />
9000 St. Gallen<br />
T: +41 71 242 2000<br />
F: +41 71 242 2001<br />
E: florian.schweitzer@b-to-v.com<br />
W: www.b-to-v.com<br />
Type of network National<br />
Date of creation 2000<br />
Number of Employees 8<br />
Legal status Private limited company<br />
Partner organisations Altium Capital, Capitalbank – GRAWE<br />
Gruppe AG, SWX Swiss Exchange,<br />
VentureCapital Magazin, VI Partners AG<br />
Wenger&Vieli<br />
Funding Sources:<br />
10%<br />
10%<br />
80%<br />
Fees from<br />
business angels<br />
Fees from<br />
entrepreneurs<br />
Other (sponsors)<br />
2000 2001 2002 2003 2004 Mid 2005<br />
Number of projects submitted 500 1500 1800 2000 2000 2200<br />
Number of Angels 10 100 250 300 330 350<br />
Number of deals made 2 5 0 4 10 8<br />
Average amount of the deal 0.1m€ 0.2m€ - 1.2m€ 0.5m€ 0.7m€<br />
2500<br />
2000<br />
1500<br />
1000<br />
Matching services of the network:<br />
• Newsletter or private information bulletin<br />
• Database of contacts (not public)<br />
• Meetings<br />
• Regular telephone conferences on specific topics<br />
• Investment Clubs (e.g. b-to-v Investor Circle)<br />
500<br />
0<br />
2000<br />
2001<br />
2002<br />
165<br />
2003<br />
2004<br />
Mid 2005<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Events and information fairs (e.g. b-to-v Investor Talks)<br />
• Monthly Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other: Referrals of existing members<br />
Fees:<br />
o Fees charged to entrepreneurs and business angels: more than 500€.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 100<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
OpenBC.com Networking<br />
Platform<br />
Date of<br />
investment<br />
Amount<br />
invested (€)<br />
April 2004 Undisclosed 6<br />
166<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Business Angel Schweiz (BAS)<br />
Contact person: Dr. Urs Rechsteiner<br />
Contact details Birmensdorferstrasse 318<br />
8055 Zürich<br />
T: +41 1 461 81 18<br />
F: +41 1 461 82 10<br />
E: urs@venturix.com<br />
W: www.bandofangels.ch<br />
Type of Network National<br />
Date of creation May 2000<br />
Employees 0<br />
Legal status Club (association)<br />
Hosting organisation n/a.<br />
Formal partner organisations TCA (Tech Coast Angels, San Diego,<br />
California), Venturix AG<br />
Funding sources:<br />
5%<br />
10%<br />
85%<br />
Fees from Business Angels<br />
Others (sponsors)<br />
Fees from enterprises<br />
2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted 90 100 50 110 60<br />
Number of Angels 20 30 35 36 43<br />
Number of deals made 2 2 0 2 0<br />
Average amount of deal n/a n/a n/a 500.000€ n/a<br />
Matching products of the network:<br />
• Monthly Dinner Meetings<br />
• Computerised data-base matching<br />
service<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment fora / fairs<br />
• Internet Matching Service<br />
How<br />
are clients acquired?<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national<br />
Press<br />
• Other (by word to mouth / deal flow<br />
from members)<br />
Fees:<br />
o Fees<br />
charged from entrepreneurs: 250 € for Dinner Meeting Presentation<br />
o Fees charged from Business Angels: Entry fee: 900 €; yearly Club fee: 400 €, yearly<br />
Dinner Meeting fee: 500€<br />
167
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Club Valaisan des business angels<br />
2005<br />
Contact<br />
person: Christophe Beaud<br />
Contact details Haabweg 2<br />
8806 Bäch<br />
T: +41 44 208<br />
98 62<br />
F: +41 79 403 54 23<br />
E: info@bizangels.ch<br />
W: www.bizangels.ch<br />
Type of Network Regional - Suisse Romande<br />
Date of creation 1999<br />
Employees 1<br />
Legal status N/ a<br />
Hosting organisation CCF SA Centre de Compétences<br />
Financières<br />
Formal partner organisations Bisange SA ( www.bisange.ch)<br />
Funding<br />
sources:<br />
100%<br />
Regional<br />
Funds<br />
1999 2000 2001 2002 2003 2004<br />
Number of projects<br />
submitted<br />
4 11 14 10 7 15<br />
Number of Angels 11 21 29 35 45 70<br />
Number of deals made 2 3 1 0 0 2<br />
Average amount of the<br />
deal (CHF)<br />
2.000.000 2.000.000 0 0 0 350.000<br />
80<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
1999<br />
Matching products of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment<br />
Clubs<br />
• Investment forums and fairs<br />
2000<br />
2001<br />
168<br />
2002<br />
2003<br />
2004<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Newsletter<br />
• Articles in local<br />
/ national Press<br />
Fees:<br />
o Only a success fee charged to entrepreneurs: 1.5% to 3% on the amount invested by the<br />
business angel in the company<br />
Estimate<br />
of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success<br />
story:<br />
Name of<br />
company<br />
Sector of activity Date of<br />
investment<br />
Mimotec Fabrication of<br />
SA micromolds and<br />
microcomponents<br />
Amount<br />
invested<br />
(€)<br />
1999 CHF<br />
100’000.-<br />
169<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
1 2001<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return<br />
on money)<br />
?
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MSM INVESTORENVEREINIGUNG<br />
2005<br />
Contact person: Dr. Jürg Martin<br />
Contact details MSM Fininco AG, Merkurstrasse 25<br />
8400 Winterthur<br />
T: +41 52 269 21 12<br />
F: +41 52 269 21 10<br />
E: martin@msmgroup.ch<br />
W: www.msmgroup.ch<br />
Type of Network National<br />
Date of creation 2001<br />
Number of Employees None<br />
Legal status Club (association)<br />
Funding Sources:<br />
30%<br />
70%<br />
Fees from<br />
Business Angels<br />
Fees from<br />
enterpreneurs<br />
2001 2002 2003 2004<br />
Number of projects submitted 8 14 17 16<br />
Number of Angels 40 45 50 70<br />
Number of deals made 1 0 1 2<br />
Average amount of the deal n/a n/a n/a n/a<br />
80<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
2001 2002 2003 2004<br />
How are clients acquired?<br />
• Events<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
170<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to business angels: less than 100 CHF per annum<br />
o Fees charged to entrepreneurs: less than 200 CHF per presentation<br />
Estimate<br />
of the number of jobs created as a result of the network activity over the last 3<br />
years: 25<br />
Success<br />
story: n/a<br />
171
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
VENTURIX AG<br />
Contact person Nicolas Berg<br />
Contact details Alte Bernstr. 78<br />
4500 Solothurn<br />
E: nicolas@venturix.com<br />
Type of network Virtual business angel network<br />
Date of creation 2002 (2000)<br />
Employees 0<br />
Legal status AG (Ltd.)<br />
Formal partner organisations www.asban.ch<br />
Funding sources:<br />
80%<br />
20%<br />
Fees from<br />
business angels<br />
Shareholders<br />
2005<br />
2000 2001 2002 2003 2004<br />
Number of projects submitted 50 800 600 400 500<br />
Number of Angels 50 200 100 90 80<br />
Number of deals made 1 2 2 1 2<br />
Average amount of the deal 300.000 300.000 200.000 250.000 275.000<br />
900<br />
800<br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
2000 2001 2002 2003 2004<br />
Projects<br />
Angels<br />
Deals<br />
Matching products of the network:<br />
• Computerised data-base matching service<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment forum / fairs<br />
• Networking events for investors<br />
• Mail presentation to all private investors<br />
• Contacts to potential Business Angels within two weeks after first contact<br />
How are clients acquired?<br />
• Search engine optimising<br />
• Asban Homepage<br />
• OpenBC.com<br />
• Entrepreneurs have heard about us<br />
172
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• Information events / seminars<br />
• Visits to enterprises<br />
• Articles in local / national media<br />
• Established co-operation with local banks / financing institutions / accountants, lawyers;<br />
embedding in sector of public promotion companies for SMEs,<br />
• Other: Partnerships with universities, academies/colleges, science parks; public<br />
Fees:<br />
o Fees charged to entrepreneurs: 0 to 5%<br />
o Fees charged to Business angels: 0% (except company search mandates)<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number<br />
of angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return on<br />
money)<br />
Whitestein.com ICT 2001, 2003 2 million 6 - Cash positive<br />
Jobwindow.ch Media 2001, 2003 200’000 5 - Cash positive<br />
Genevalogic.com ICT 2001, 2002 1 million 10 - Cash positive<br />
Cellntec.com Biotech 2002 50’000 2 - Not disclosed<br />
Pagameno.ch Real Estate 2003 1 million 4 - Cash positive<br />
Webstage.ch ICT/Health 2001 25’000 2 - Cash positive<br />
Warrants.ch Media 2002, 2003 500’000 14 - Break even<br />
173
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
THE NETHERLANDS<br />
2005<br />
In the Netherlands, informal capital activities emerged as early as in 1995 from a private<br />
initiative known as NeBIB.<br />
NeBIB is a nation-wide organisation. Ever since its creation, it has published a monthly<br />
magazine with general information on the financing of businesses as well as profiles of<br />
companies looking for equity and investors.<br />
2. Statistics<br />
1996 1997 1998 1999 2000 2001 2002 2003 Mid<br />
2004<br />
2004<br />
Number of BANs 1 1 1 1 2 2 3 3 (4*) 4<br />
(5*)<br />
Number<br />
Angels<br />
of Business 60 95 90 100 104 110 119 101 94 N/a<br />
Number of deals 40 75 65 51 19 14 10 N/a<br />
Number<br />
projects<br />
of accredited 140 180 180 175 123 115 104 79 44 N/a<br />
Number<br />
BANs<br />
of commercial 1 1 1 1 1 1 1 1 1 1<br />
Number of non- 0 0 0 0 1 1 1 2 2 3<br />
commercial BANs<br />
Number of national BANs 1 1 1 1 1 1 1 1 1 1<br />
Number of regional BANs 0 0 0 0 0 1 1 2 2 3<br />
National association 0 0 0 0 0 0 0 0 0 0<br />
*Information concerning EuBAN can be found on page 29.<br />
3. BAN legal status<br />
NeBIB was set up as a private organisation. As for ROBAN, the Rotterdam BAN, it was set up<br />
as 2000 as a non-profit organisation (Foundation). In-Brabant is a mutual project.<br />
4. National association<br />
None, as NeBIB is a nation-wide organisation and has a close partnership with the other<br />
BANs.<br />
5. Dissemination of the BAN concept<br />
NeBIB undertook a large programme of seminar organisation throughout the country and<br />
publishes a monthly magazine called “It Takes 2 to Tango”.<br />
- Startech; nation-wide event with 700 visitors;<br />
- INNOZUID with 470 visitors;<br />
- Training programs in contracts, sales and communication, fiscal studies, etc.<br />
174
6. EU support<br />
� Awareness actions<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
39 awareness seminars have been conducted in the Netherlands, with NeBIB acting as coordinator.<br />
The cities chosen to host these seminars were Utrecht, Amsterdam, Putten,<br />
Enschede, Eindhoven, Utrecht, Rotterdam, etc, completely spread over the country. 5 of which<br />
were supported by the EU.<br />
7. EBAN members<br />
NeBIB<br />
175
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
NEBIB<br />
2005 M<br />
Contact person Ben LACOR<br />
Contact details Post bus 154,<br />
3620 AD Breukelen,<br />
The Netherlands<br />
T: +31 346 55 57 74<br />
F: +31 346 56 11 54<br />
E: ben@nebib.nl<br />
W: www.nebib.nl<br />
Type of Network. National<br />
Date of creation May 1995<br />
Employees 6<br />
Legal status Company with limited responsibility<br />
Funding Sources<br />
75%<br />
20%<br />
5%<br />
Fees from Business<br />
Angels and<br />
enterprises<br />
Public/National<br />
Other (Sponsors,<br />
events)<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of projects submitted 140 180 180 175 123 115 96 79 86<br />
Number of Angels 60 95 90 100 104 110 102 101 98<br />
Number of deals 40 75 65 51 25 18 19 14 17<br />
Average amount of the deal: around 100.000€ every year, except 1999 and 2000 which gave<br />
an higher average of about 125.000€ and 175.000€<br />
Matching products of the network:<br />
• Matching through Bulletin / Newsletter<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment fora / fairs<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Own newsletters<br />
• Direct mailing advertisement<br />
• Articles in local / national Press<br />
• Specific services for high-tech investments<br />
Fees:<br />
o Fees charged from entrepreneurs: 385 €<br />
o Fees charged from Business Angels: 285 €<br />
o Success Fee: 2%<br />
Estimate number of jobs created as a result of network activity over the last 3 years:<br />
150-200<br />
176
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Money Meets Ideas<br />
Contact person Yvette Molin – van den Berg<br />
Contact details Money Meets Ideas<br />
UCO 432, Postbus 17100<br />
3500 HG Utrecht<br />
T: +31 30 216 4731<br />
F: +31 30 216 5617<br />
E: y.molin@rn.rabobank.nl<br />
W: www.moneymeetsideas.nl<br />
Type of network National network<br />
Date of creation 1997<br />
Employees 2<br />
Legal status Part of Rabobank Group<br />
Hosting organisation -<br />
Formal partner organisations -<br />
Funding sources:<br />
80%<br />
20%<br />
Fees from<br />
enterpreneurs<br />
Other (Sponsors)<br />
2005<br />
2004<br />
Number of projects submitted 39<br />
Number of Angels 175<br />
Number of deals made N/a<br />
Average amount of the deal N/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment forums and fairs<br />
• Internet<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
177
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€<br />
o No fees charged to business angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
178
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
TURKEY - BANTr<br />
Contact person Ersin Galgi / Rob Van der Gaast<br />
Contact details Bizz-e Ltd Bagdat cad 85/9+10<br />
Kizitopark-Kadilöy Istanbul<br />
T: +90 (0) 216 347 69 62<br />
F: +90 (0) 216 347 69 63<br />
E: Ersin.gelgi@bizz-e.com /<br />
Rob.gaast@bizz-e.com<br />
W: www.bantr.net<br />
Date of creation 2004<br />
Number of employees 3<br />
Type of network National<br />
Legal status Start from Bizz-e Ltd<br />
Hosting organization Bizz-e Ltd<br />
Formal Partner organization Bizz-e Ltd<br />
International business club Istanbul<br />
Funding sources:<br />
n/a<br />
Mid-2004<br />
Number of Business Angels n/a<br />
Number of projects n/a<br />
Number of deals made n/a<br />
Average amount of the deal n/a<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: 250€<br />
o Fees charged to business angels: 100€-500€<br />
179
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BANatolia<br />
2005<br />
Contact person Alp ASLAN, LLB, MBA, LLM<br />
Contact details Bilkent Cyberpark B-103<br />
06800 Bilkent Ankara<br />
T: 90 312 2650 154<br />
F: 90 312 2650 154<br />
E: alp@anatolia.org<br />
W: www.banatolia.org<br />
Date of creation April 1996<br />
Number of employees 5<br />
Type of network Regional<br />
Legal status Private, not-for-profit<br />
Hosting organisation -Middle East Technical University Technopolis<br />
Management – ODTU Teknopark<br />
-Hacettepe University Technopolis Management<br />
– Hacettepe Teknokent<br />
-Capital City Industrialists and Businessmen<br />
Association – BASIAD<br />
- Turkish Industrialists and Businessmen<br />
Foundation - TUSIAV<br />
Formal Partner organisation Bilisim Teknolojileri ve Danismanlik San. Ve Tic.<br />
Ltd. Sti.<br />
(Information Technologies and Consultancy<br />
Ltd.)<br />
Funding sources:<br />
Number of<br />
Business Angels<br />
Number of<br />
projects<br />
Number of deals<br />
made<br />
Average amount<br />
of the deal (€)<br />
100%<br />
Sponsors<br />
1997 1998 1999 2000 2001 2002 2003 2004 2005<br />
1 1 1 1 1 1 1 3 3<br />
1 2 5 6 4 8 7 12 21<br />
1 1 2 4 2 1 4 5 11<br />
15.000 23.000 68.000 125.000 57.000 27.000 35.000 72.000 115.000<br />
180<br />
M
25<br />
20<br />
15<br />
10<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
5<br />
0<br />
1997<br />
1999<br />
2001<br />
2003<br />
Mid 2005<br />
Angels<br />
Projects<br />
Deals<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Targeted publicity<br />
• Visits to entreprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
• Other: Clients yielded from various different business’ clientele and social networks.<br />
Fees:<br />
o No fees charged to entrepreneurs<br />
o No fees charged to business angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 100<br />
Success story:<br />
Name of<br />
company<br />
CD Medya<br />
Yazilim<br />
Ltd<br />
Onbir41<br />
Design<br />
Group<br />
EDA<br />
Tasarim<br />
Ltd<br />
Sector of activity Date of<br />
investment<br />
IT Company<br />
www.corpus.Com.tr<br />
Architecture and<br />
design office<br />
Engineering Design<br />
and IT company<br />
www.eda-ltd.com.tr<br />
181<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return on<br />
money)
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
UNITED KINGDOM<br />
2005 M<br />
The first BANs operating in the UK were already up and running in the early 80s. As of 1999,<br />
nearly 50 BANs were operating in the vast majority of UK regions. However, the Welsh and<br />
Scottish BANs are a more recent creation—both of them were set up in 1997. BANs with a<br />
regional geographic coverage coexist with national BANs.<br />
BBAA Contact person<br />
Liz Carrington<br />
52/54 Southwark Street<br />
London SE1 1UN<br />
T: +44 020 70892305<br />
F: +44 020 0892301<br />
E: liz@bbaa.org.uk<br />
W: www.bbaa.org.uk<br />
2. Funding sources (of BBAA) projected for 2005<br />
182<br />
Public Funding<br />
Fees<br />
Other (inc sponsorship)
3. Statistics<br />
Number of<br />
BANs<br />
Number of<br />
Business<br />
Angels<br />
Number of<br />
deals<br />
Number of<br />
accredited<br />
projects<br />
Number of<br />
commercial<br />
BANs<br />
Number of<br />
noncommercial<br />
BANs<br />
Number of<br />
national<br />
BANs<br />
Number of<br />
regional<br />
BANs<br />
National<br />
association<br />
Contact<br />
details of<br />
BAN<br />
members<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
1997 1998 1999 2000 2001 2002 Mid 2003 Total<br />
2003<br />
Mid 2004 2004<br />
42 46 49 52 48 48 51 Not<br />
available<br />
101* 34<br />
n/a n/a n/a n/a n/a n/a 300 100 n/a 3297**<br />
196 314 234 252 239 299 n/a n/a n/a 170**<br />
n/a n/a n/a n/a n/a n/a >6000<br />
commenced<br />
>500<br />
completed<br />
n/a n/a n/a<br />
2 2 2 6 5 5 14 n/a n/a 7**<br />
0 0 0 46 43 41 37 n/a n/a 13**<br />
4 5 5 5 5 5 3 (excluding<br />
NBAN)<br />
25 29 31 9 9 9 9 (not<br />
including<br />
Scotland)<br />
2 2 2 2 2 (NBAN<br />
and BANA)<br />
2937 (as of<br />
31 dec<br />
2002)<br />
3<br />
(excluding<br />
NBAN<br />
3<br />
(excluding<br />
6**<br />
n/a<br />
NBAN<br />
n/a 14**<br />
2 (NBAN<br />
and<br />
BANA<br />
2 (NBAN<br />
and<br />
BANA<br />
n/a n/a<br />
1<br />
(BBAA)<br />
*Change in the series of statistics for mid-2004. Up to and including mid-2003, the figures<br />
represent the number of networks that were members of NBAN, not the number of networks<br />
operating in the UK.<br />
**These figures are based upon members of BBAA. BBAA currently has 20 full members (list<br />
also attached).<br />
We have to add to these statistics that the UK market is the most mature within the E.U<br />
countries. There are more than 100 different organisations in the business angel market place<br />
– some of these have more than one office with more than one recognised practitioner. The<br />
Business Links are good examples of this.<br />
183
4. BAN legal status<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
British BANs can be commercial, public sector, commercial and working for the public sector,<br />
or not-for-profit organisations.<br />
The majority of BANs enjoy privileged relations with the private banking sector and/or with the<br />
venture capital industry.<br />
5. National association<br />
Over the past year there has been a large change within the UK’s national association, the old<br />
organisation NBAN has evolved into the British Business Angels Association (BBAA). The<br />
British Business Angels Association (BBAA) is the new National Trade Association for the<br />
UK’s Business Angel Networks and its Associates and Affiliates. BBAA is promoting the<br />
recognition of Business Angel Networks (BANs) and organised angel groups. BBAA has a<br />
number of roles ranging from highlighting the contribution business angels make to the<br />
entrepreneurial culture to supporting its members and lobbying government to encouraging the<br />
exchange of best practice, experiences and ideas between its members. It specifically does<br />
not have a purpose to promote investment opportunities to investors or to advisers.<br />
6. Dissemination of the BAN concept<br />
Most media have published or broadcast pieces on Business Angels and BANs. Entire TV<br />
programmes have for example been dedicated to this issue. A VHS-Cassette was even<br />
produced explaining BAN and BA activities.<br />
Business angels are becoming increasingly publicised as a form of funding for small<br />
businesses in the UK. This is mainly though television programs such as ‘Dragon’s Den’. The<br />
BBAA continues to increase the awareness of business angels through the national press.<br />
7 EBAN members<br />
BBAA<br />
Equity Link<br />
LINC Scotland<br />
London Business Angels<br />
Finance South East Limited<br />
Advantage Business Angels<br />
Business Link Devon & Cornwall<br />
TEChINVEST<br />
HALO<br />
Xénos<br />
184
Advantage Business Angels<br />
Beer and Partners<br />
C2Ventures<br />
Entrust<br />
Envestors<br />
Equity Link<br />
E-Synergy Ltd<br />
Finance South East<br />
Katalyst Ventures Ltd<br />
Kingston Business Angels<br />
London Business Angels<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
BBAA Members<br />
Organisation Contact<br />
Oxfordshire Investment Opportunity Network<br />
South West Angel and Investor Network<br />
TEChINVEST<br />
Great Eastern Investment Forum<br />
Xenos<br />
YABA<br />
185<br />
Pat Sutton<br />
Rob Beer<br />
Paul Gardner<br />
Bob Marris/Ian Mudie<br />
Oliver Woolley<br />
Stuart McRoberts<br />
Cheryle Hart<br />
S.Goodsell/P.Coleman<br />
Anthony Collinson<br />
Barry Akid<br />
Aisha Ejaz<br />
Jon Cox<br />
Nicola Prosser<br />
Ruth Hollis<br />
John Goodger<br />
Ray Hurcombe<br />
Barbara Greaves
Contact person<br />
Contact details<br />
Date of creation<br />
Number of employees<br />
Type of network<br />
Legal status of the BAN<br />
Hosting organisation<br />
Formal partner organisations<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ADVANTAGE <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
30%<br />
2005<br />
Bob Barnsley<br />
Edgbaston House 3 Duchess Place<br />
Birmingham B16 8NH<br />
T: +44 121 456 7940<br />
F: +44 121 455 8547<br />
E: Bob.Barnsley@abangels.com<br />
W: www.advantagebusinessangels.com<br />
Originally 1994 but in present form 2002<br />
11 full time, 7 part time<br />
Regional: The UK, specialising in The West<br />
Midlands<br />
Company Limited by Guarantee, not for profit<br />
The local regional development agency<br />
Advantage West Midlands (AWM) and the<br />
Government Office for the West Midlands<br />
The University of Warwick Science Park,<br />
Hereford and Worcester Business Link,<br />
10% Regional Funds<br />
60%<br />
European Funds<br />
Fees from<br />
entrepreneurs<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of Business<br />
700+ 700+<br />
Angels<br />
33 37 38 44<br />
Number of projects 50 62 71 96 96 54<br />
Number of deals made 4 4 5 7 18 6<br />
Average amount of the<br />
deal<br />
n/a n/a n/a n/a £150.000 £250.000<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
186<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€<br />
o No fees charged to business angels<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 200+<br />
Success story:<br />
Name of<br />
company<br />
Top Dog<br />
Jobs<br />
Sector of<br />
activity<br />
IT<br />
recruitment<br />
Date of<br />
investment<br />
August<br />
2004<br />
Amount<br />
invested<br />
(€)<br />
187<br />
Number of<br />
angels<br />
involved<br />
Date of<br />
exit<br />
November<br />
2004<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)<br />
Trade Sale to<br />
Friends Reunited
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
DEVON & CORNWALL <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
PROGRAMME<br />
2005 M<br />
Contact person<br />
Stephen Pryor<br />
Contact details<br />
TAMAR Science Park<br />
Plymouth PL6 8BT<br />
T: + 44 845 600 9966<br />
E: Stephen.pryor@bldc.co.uk<br />
W: www.bldandc.com<br />
Date of creation<br />
1995<br />
Number of employees 4 (with larger organisation 165)<br />
Type of network Regional<br />
Devon and Cornwall<br />
Legal status of the BAN<br />
Department within a Limited Company<br />
Hosting organisation<br />
Business Link Devon and Cornwall<br />
Formal partner organisation<br />
South West Angel Investment Network<br />
(SWAIN)<br />
Funding sources:<br />
15%<br />
85%<br />
National Funds<br />
European<br />
Funds<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005<br />
(March)<br />
Number of Business<br />
Angels<br />
24 32 26 40 20 20 20 65 72 79<br />
Number of projects 62 53 55 56 30 30 10 70 35 94<br />
Number of deals<br />
made<br />
10 9 5 5 10 3 5 8 0 3<br />
Average amount of<br />
the deal<br />
n/a n/a n/a n/a n/a n/a 20.000£ 45.000£ n/a £25k<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
1996<br />
1998<br />
2000<br />
2002<br />
2004<br />
188<br />
Angels<br />
Projects<br />
Deals
Matching services of the network:<br />
• Equity workshops<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Referrals from partners<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 30<br />
Success story: n/a<br />
189
Contact person<br />
Contact details<br />
Date of creation<br />
Number of Employees<br />
Legal status<br />
Funding Sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
<strong>BUSINESS</strong> LINK STAFFORDSHIRE<br />
10%<br />
80%<br />
Mike Bird<br />
Commerce House, Festival Park<br />
Stoke on Trent<br />
Staffordshire ST1 5BE<br />
T: +44 1 889 508 332<br />
F: +44 1 889 508 089<br />
E: mike.bird@abangels.com<br />
W: www.advantagebusinessangels.com<br />
Regional & Local network<br />
1994<br />
1<br />
Proprietor<br />
1996 1997 1998 1999 2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted 15 15 10 10 12 15 20 35 20<br />
Number of Angels 25 25 20 10 10 15 60 500 750<br />
Number of deals made 2 2 0 0 0 3 4 6 6<br />
Average amount of the deal £60K £60K 0 0 0 £75K £75K £80K £80K<br />
10%<br />
Fees from<br />
entrepreneurs<br />
Regional funds<br />
Sponsors<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o Fees charged to entrepreneurs: circa 750€.<br />
o No fees charged to business angels.<br />
190
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
C2Ventures<br />
2005<br />
Contact person Paul Gardner<br />
Contact details Administration Ashridge House<br />
121 High Street, Berkhamstead<br />
Hertfordshire, HP4 2DJ<br />
T: +44 (0) 20 7871 4544<br />
F: +44 870 706 2199<br />
E: info@c2ventures.com<br />
W: www.c2ventures.com<br />
Date of creation<br />
2001<br />
Number of employees<br />
0 - All directors or associates<br />
Type of network<br />
National with SE & Central<br />
England Bias<br />
Legal status of the BAN<br />
Private Limited Company<br />
Funding sources:<br />
30%<br />
10% Regional Funds<br />
2002 2003 2004<br />
Number of Business Angels 50 123 159<br />
Number of projects 16 9<br />
Number of deals made 2 5<br />
Average amount of the<br />
deal<br />
£75K £250k £880k<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Data base of contacts<br />
• Company Presentation Events<br />
• Training in Investment Readiness for SMEs<br />
• Training and capacity building for investors<br />
How are clients acquired? n/a<br />
60%<br />
Fees:<br />
o SMEs initial registration fee: £385<br />
o SMEs success fees: Confidential & agreed on Contract<br />
European<br />
Funds<br />
Fees from<br />
entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 20<br />
191
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Fifty<br />
Lessons<br />
Media 2004/2004 500K 17<br />
Better<br />
Energy<br />
FMCG 2005 350K 7<br />
ClearPace Technology 2003 £3.2m 3<br />
192<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CAPITAL PARTNERS GROUP<br />
Contact person: Claudio Rojas<br />
Contact details<br />
33 St James’s Square<br />
London SW1Y 4JS<br />
T: +44 (0) 7050 804 262<br />
F: +44 (0) 7050 804 263<br />
E: info@Capital-Partners.co.uk<br />
W: www.Capital-Partners.co.uk<br />
Type of network<br />
National<br />
Date of creation<br />
2000<br />
Number of Employees<br />
25<br />
Legal status<br />
Limited Company<br />
Hosting organisation<br />
Capital Partners Group Ltd<br />
Partner organisations<br />
3<br />
Funding Sources:<br />
40%<br />
2000 2001 2002 2003 Mid 2004<br />
Number of projects submitted 1000 1200 1500 2000 1000<br />
Number of Angels 50 100 200 1500 5000<br />
Number of deals made 1 2 3 3 1<br />
Average amount of the deal 100.000£ 100.000£ 200.000£ 500.000£ 500.000£<br />
30%<br />
30%<br />
National Funds<br />
Regional Funds<br />
Fees from<br />
entrepreneurs<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: more than 500€; No fees charged to business angels<br />
193
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
CMR – Cavendish Management Resources<br />
Contact person Mike Downey<br />
Contact details T: +44 2076361744<br />
E : cmr@cmrworld.com<br />
Type of network<br />
National<br />
Date of creation<br />
1984<br />
Employees<br />
450<br />
Legal status<br />
Limited company<br />
Hosting organisation<br />
-<br />
Formal partner organisations<br />
-<br />
Funding sources:<br />
100%<br />
Fees from<br />
business angels<br />
2005<br />
1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of projects submitted 434 466 498 512 478 490 500 690<br />
Number of Angels 422 423 443 456 477 487 490 582<br />
Number of deals made 9 15 11 17 25 18 13 10<br />
Average amount of the deal 100K 109K 77K 365K 312K 360K 170K 242K<br />
800<br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
1997<br />
1998<br />
1999<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
Projects<br />
Angels<br />
Deals<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
194
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o No fees charged to business angels and entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 100<br />
Success story: All confidential<br />
195
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
ENVESTORS<br />
Contact person Oliver Woolley<br />
Contact details London House<br />
100 New kings Road<br />
London, SE6 4LX<br />
T: +44 20 7348 6171<br />
F: +44 20 7348 6172<br />
E: oliver@envestors.co.uk<br />
W: www.envestors.co.uk<br />
Date of creation<br />
2004<br />
Number of employees<br />
7<br />
Type of network<br />
London & South<br />
Legal status of the BAN<br />
Company Private<br />
Funding sources:<br />
30%<br />
10%<br />
60%<br />
Regional Funds<br />
European<br />
Funds<br />
Fees from<br />
entrepreneurs<br />
2004<br />
Number of Business Angels 50<br />
Number of projects 20<br />
Number of deals made 3<br />
Average amount of the deal<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Data base of contacts<br />
• Company Presentation Events<br />
• Meetings<br />
• Investment Clubs<br />
• Internet based matching service<br />
• Training in Investment Readiness for SME’s<br />
• Training and capacity building for investors<br />
How are clients acquired?<br />
• Referrals (Banks, accountants, lawyers)<br />
• BBAA website<br />
Fees:<br />
o SMEs initial registration fees are £500-£5000<br />
o SMEs success fees 5%<br />
o £150<br />
196<br />
2005
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
197
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
EQUITY LINK<br />
2005<br />
Contact person Stuart McRoberts<br />
Contact details 45 Grosvenor Road<br />
St. Albans<br />
Herts. AL1 3AW<br />
T: +44 1727 813 533<br />
F: +44<br />
E: info@equitylink.co.uk<br />
W: www.equitylink.co.uk<br />
Date of creation<br />
1996<br />
Number of employees<br />
3<br />
Type of network<br />
Hertfordshire & Essex<br />
Legal status of the BAN<br />
Public<br />
Hosting organisation<br />
Exemplas<br />
Funding sources:<br />
Funded by Success fees and Company and Investor registration fees<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of Business<br />
280 190 215 220 250<br />
Angels<br />
136 146 202 234<br />
Number of projects 97 171 131 111 140 75 90 80 108<br />
Number of deals<br />
made<br />
16 21 22 23 15 13 8 7 6<br />
Average amount of<br />
the deal<br />
£100K £100K £200K £150k £150K £150K £150K £125K £125K<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
1996<br />
1997<br />
1998<br />
1999<br />
2000<br />
2001<br />
2002<br />
2003<br />
2004<br />
Matching services of the network:<br />
• Data base of contacts<br />
• Company Presentation Events<br />
• Meetings<br />
• Investment Forums & Fairs<br />
• Training in Investment Readiness for SME’s<br />
• Training and capacity building for investors<br />
How are clients acquired?<br />
• Word of mouth<br />
• Website<br />
• Recommendation<br />
198<br />
Angels<br />
Projects<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o SMEs initial registration £400<br />
o SMEs success fees: £250k-£500k 2%, £500k-£750k 1.5%, £750k+ -1%<br />
o Investors £50 pa<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
199
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FINANCE SOUTH EAST<br />
2005<br />
Contact person Sally Goodsell / Paul Coleman<br />
Contact details Devonshire Place<br />
New Road<br />
Crowthorne<br />
Berkshire RG45 6NA<br />
T: +44 1344 758 540<br />
F: +44 1344 762 002<br />
E: sally.goodsell@financesoutheast.com<br />
W: www.financesoutheast.com<br />
Date of creation<br />
2002<br />
Number of employees<br />
20<br />
Type of networks<br />
South East Capital Alliance – angel network<br />
Legal status of the BAN<br />
Not for profit - Company Limited by Guarantee<br />
Hosting organisation<br />
Formal partner organisations<br />
Funding sources:<br />
30%<br />
Subsidiary of RDA<br />
South East England Development Agency and<br />
the six Business Links of the South East.<br />
10% Regional Funds<br />
60%<br />
European Funds<br />
Fees from<br />
entrepreneurs<br />
2004<br />
Number of Business Angels 51<br />
Number of projects 20<br />
Number of deals made 2<br />
Average amount of the deal £27.500<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Data Base of Contacts<br />
• Company Presentation Events<br />
• Investor Clubs/ Networking Meetings<br />
• Investment Forums & Fairs<br />
• Training in Investment Readiness for SMEs<br />
• Training an capacity building for Investors<br />
How are clients acquired?<br />
• Website<br />
• Brochures<br />
• Reputation<br />
• Recommendation by partners (Business Links and an innovation centre)<br />
200<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o SMEs Initial Registration fee: £250. SMEs are expected to be in an Investment Ready<br />
state. Other services costing up to £650 are available to assist applicants become<br />
Investment Ready.<br />
o SMEs success fees:3% on amounts raised<br />
o Investors – no charge<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
201
Contact person:<br />
Contact details<br />
Type of network<br />
Date of creation:<br />
Number of Employees:<br />
Legal status:<br />
Funding Sources:<br />
n/a<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
FIRST CAPITAL<br />
Paul Fisher<br />
Elsinore House<br />
77 Fulham Palace Road<br />
London W6 8JA<br />
T: +44 1 20 85 63 15 63<br />
F: + 44 1 20 85 63 27 67<br />
E: paul@firstCap.co.uk<br />
W: www.firststagecapital.com<br />
National<br />
1999<br />
7<br />
FSA regulated<br />
2005<br />
1999 2000 2001 2002 2003 2004<br />
Number of projects submitted n.p n.p n.p n.p n.p n.p<br />
Number of Angels n.p n.p n.p n.p n.p n.p<br />
Number of deals made n.p n.p n.p n.p n.p n.p<br />
Average amount of the deal n.p n.p n.p n.p n.p n.p<br />
n.p: non-published<br />
Matching services of the network:<br />
• Meetings<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Visits to enterprises<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story:<br />
Name of<br />
company<br />
Sector of activity Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Oxonica NantoTechnology June 2002 N/a N/a N/a N/a<br />
202<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)
Contact person<br />
Contact details<br />
Date of creation<br />
Number of employees<br />
Type of network<br />
Legal status of the BAN<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
KATALYST VENTURES Ltd<br />
100%<br />
2005<br />
A.R Collinson<br />
10 Fenchurch Avenue<br />
London, EC3M 5BN<br />
T: +44 20 7665 5454<br />
F: +44 871 990 6338<br />
E: invest@katalystventures.com<br />
W: www.katalystventures.com<br />
1999<br />
4<br />
National<br />
Limited<br />
Investors<br />
2003 2004<br />
Number of Business Angels 60 90<br />
Number of projects N/A N/A<br />
Number of deals made 4 7<br />
Average amount of the deal £350k £425K<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Company Presentation Events<br />
• Investor Clubs/ Networking Meetings<br />
How are clients acquired? By recommendation<br />
Fees:<br />
o SMEs success fees: 5%<br />
o Annual fee for angels: 2000 pa<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 335 over 5 years<br />
203
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date of exit Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)<br />
9<br />
ITM Fuel Cell April 2002 £680K 9 June 2004<br />
Power Ltd research<br />
Screen DVD July 2003 £600K 36 September 1.6<br />
Select rental<br />
2004<br />
204
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
LINC Scotland<br />
2005<br />
Contact person:<br />
David GRAHAME<br />
Contact details<br />
19 St Vincent Place<br />
Glasgow GI2DT<br />
T: +44 141 221 3321<br />
F: +44 141 221 2909<br />
E: info@lincscot.co.uk<br />
W: www.lincscot.co.uk<br />
Type of network<br />
National Network - Scotland<br />
Date of creation<br />
1994<br />
Employees<br />
7<br />
Legal status<br />
Private, Non-Profit.<br />
Hosting organisation Independent<br />
Formal partner organisations Scottish Executive (Government)<br />
European Regional Development Fund<br />
Many Private Sector<br />
Funding sources:<br />
27%<br />
13%<br />
4%<br />
19%<br />
37%<br />
European Regional<br />
Development Fund<br />
Public National<br />
Fees charged from<br />
Business Angels<br />
Fees charged from<br />
enterprises<br />
Donations<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of projects<br />
submitted<br />
141 163 127 121 152 113 131 129 127<br />
Number of Angels 152 245 357 423 447 486 473 1<br />
471 2<br />
447 3<br />
Number of deals made 18 20 22 21 29 37 39 34 37<br />
Average amount of<br />
deals<br />
n/a n/a n/a n/a n/a n/a 225.200€ 174,305€ 247,486€<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
1996<br />
1 314 Individuals and 159 in syndicates<br />
2 288 Individuals and 183 in syndicates<br />
3 230 Individuals and 217 in syndicates<br />
1998<br />
2000<br />
2002<br />
205<br />
2004<br />
Projects<br />
Angels<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching products of the network:<br />
• Matching through Bulletin / Newsletter<br />
• Computerised data-base matching service<br />
• Personal introduction (on a one-to-one basis)<br />
• Investment clubs<br />
• Investment forum<br />
• Specific services for high-tech investments<br />
Other support:<br />
• Investment-Readiness Grant Scheme<br />
• Investor Development and Syndicate Building Programmes<br />
How are clients acquired?<br />
• Information events / seminars<br />
• Own newsletters<br />
• Articles in local / national Press<br />
• Established co-operation with local banks / financing institutions / accountants<br />
• Other (referrals from public enterprise support agencies)<br />
Fees:<br />
o Fees charged from entrepreneurs looking for financing: 150-2000 € and sometimes equity<br />
participation<br />
o Fees charged from Business Angels: 100-500€<br />
Note: LINC Scotland has been involved in setting up and supporting a number of Angel<br />
syndicates, which are getting a larger share of projects submitted and deals initiated each<br />
year. Where direct assistance has been given by LINC on individual deals these are included<br />
in the figures above.<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years:<br />
N.B.<br />
In 3 years to 31/12/04 number of jobs created or safeguarded = 1122 AT POINT OF DEAL<br />
Information on subsequent increase or decrease in employment, which could be significant, is<br />
not available.<br />
Success story:<br />
Name of<br />
company<br />
Wolfson<br />
Microelectronics<br />
Ltd<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number<br />
of angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Microelectronics 1999 £200,000 15 Oct<br />
2003<br />
206<br />
Multiple of<br />
return for<br />
investors (i.e.<br />
times return<br />
on money)<br />
20+
Contact person<br />
Contact details<br />
Type of network<br />
Date of creation<br />
Employees<br />
Legal status<br />
Hosting organisation<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
LONDON <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
19%<br />
66%<br />
15%<br />
2005<br />
Aisha Ejaz, BAN Manager<br />
5 th Floor, 52/54 Southwark Street<br />
London SE1 1UN, UK<br />
T: +44 020 7089 2317/2327<br />
F: +44 020 7089 2301<br />
E: aisha@lbangels.co.uk<br />
W: www.lbangels.co.uk<br />
Regional Network – Strictly London<br />
and Home Counties Area<br />
LBA was created in 1982<br />
3<br />
Private, Non-Profit Subsidiary<br />
Greater London Enterprise Ltd.<br />
Fees charged<br />
from Business<br />
Angels<br />
Fees charged<br />
from enterprises<br />
Others (sponsors)<br />
2003 2004<br />
Number of projects submitted 47 40<br />
Number of Angels 220 170<br />
Number of deals made 17 11<br />
Average amount of deals 174,598 € 433,704 €<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
2003 2004<br />
Projects<br />
Angels<br />
Products of the network:<br />
• Company Presentation Events – where six companies pitch directly to network<br />
investors for investment between £100k - £500k. These companies receive both<br />
presentation content and delivery training prior to making their presentations.<br />
207<br />
Deals<br />
M
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
• London Seed Capital – Match fund of £5m exclusively invests with the LBA investors.<br />
Will match investment from a minimum of £50k to a maximum of £100k.<br />
• Ready2invest (r2i) programme – supported with funding by the LDA to increase<br />
London’s Business Angel capacity.<br />
Fees charged from investors:<br />
o Individual Membership: £170 + VAT = £199.75<br />
o Corporate Membership: £270 + VAT = £317.25<br />
Fees charged from investees:<br />
o £950 + VAT = £1,116.25 + 5% Success Fees<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: At least 100<br />
Success story:<br />
Name of<br />
company<br />
UK<br />
Explorer<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
Technology 2001 300,000 1 Feb<br />
2005<br />
208<br />
Multiple of return for<br />
investors (i.e. times<br />
return on money)<br />
undisclosed
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
OXFORD EARLY INVESTMENTS<br />
Contact person Alastair Cavanagh<br />
Contact details OCFI<br />
Mill Street<br />
Oxford OX2 0JX<br />
T: +44 1865 811 120<br />
F: +44 1865 209 044<br />
E: a.cavanagh@oxin.co.uk<br />
W: www.oxei.co.uk<br />
Date of creation<br />
November 2004<br />
Number of employees<br />
1<br />
Type of network<br />
BAN<br />
Legal status of the BAN<br />
Trading style of Company limited by<br />
Guarantee<br />
Hosting organisation<br />
OION<br />
Funding sources:<br />
1) Success fees on investments through OEI (3% - exc VAT)<br />
2) Membership fees for investor members (£125 + VAT annually)<br />
3) Sponsorship (Grant Thornton, Manches, Spinner, Frank B Dehn, Clik, Oxford<br />
Technology VCT, NESTA, Oxford Brookes, Business Link, The Oxford Trust)<br />
2005<br />
2004*<br />
Number of Business Angels 50<br />
Number of projects 18<br />
Number of deals made 2<br />
Average amount of the deal £100k<br />
*Network founded Nov 2004<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Data Base of Contacts<br />
• Company Presentation Events<br />
• Investor Clubs/ Networking Meetings<br />
• Investment Forums & Fairs<br />
• Internet Based Matching Service<br />
• Training in Investment Readiness for SMEs<br />
• Training and Capacity Building for Investors<br />
How are clients acquired?<br />
• Dealflow from peer networks<br />
• Oxford Innovation tenant companies<br />
• OEI’s investor members<br />
• University Tech Transfer offices<br />
• Entrepreneurs<br />
• Sponsors<br />
Fees:<br />
o SMEs initial registration fee: £200+VAT<br />
o SMEs success fees: 3%<br />
o Annual fee for Angels: £125 pa + VAT<br />
209
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
210
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
OXFORDSHIRE INVESTMENT OPPORTUNITY<br />
<strong>NETWORK</strong><br />
Contact person Jon Cox<br />
Contact details Oxford Centre for Innovation<br />
Mill Street<br />
Oxford, OX2 0JX<br />
T: +44 1865 811 143<br />
F: +44 1865 209 044<br />
E: j.cox@oxin.co.uk<br />
W: www.oion.co.uk<br />
Date of creation<br />
1995<br />
Number of employees<br />
3<br />
Type of network<br />
National<br />
Legal status of the BAN<br />
Limited by guarantee<br />
Hosting organisation<br />
Oxford Innovation Ltd<br />
2005<br />
Funding sources:<br />
1) Success fees on investments through OION (£1,000 + 3% - exc VAT)<br />
2) Membership fees for investor members (£175 + VAT annually)<br />
3) Sponsorship (HSBC, Grant Thornton, MTI, Laytons, Frank D Dehn, NESTA, Business<br />
Link Solutions)<br />
The Network reported turnover of £170,000 in its last audited financial year<br />
1996 1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of Business Angels 140 45* 55 80 100 110 120 135 130<br />
Number of projects** N/A N/A N/A N/A N/A N/A N/A N/A<br />
Number of deals made 11 6 7 11 12 14 18 13<br />
Average amount of the<br />
deal<br />
£136k £178k £178k £145k £420k £215k £278k £192k<br />
*OION started charging for investor memberships in 1997<br />
**Not formally tracked before 2005; 45 companies are invited to present to the Network at its<br />
nine investment meetings each year. Typically 300-400 business plans are received by the<br />
Network each year<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Data Base of Contacts<br />
• Company Presentation Events<br />
• Investor Clubs/ Networking Meetings<br />
• Investment Forums & Fairs<br />
• Internet Based Matching Service<br />
• Training in Investment Readiness for SMEs<br />
• Training and Capacity Building for Investors<br />
How are clients acquired?<br />
• Dealflow from peer networks<br />
• Oxford Innovation tenant companies<br />
• OION’s investor members<br />
• University Tech Transfer offices<br />
• Entrepreneurs,<br />
211<br />
M
• Sponsors<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o SMEs initial registration fee: £400 to present at investment meeting<br />
o SMEs success fees: £1,000 + 3%<br />
o Annual fee for Angels: £175 pa + VAT<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: Assume 3-5 jobs per investment deal: approx. 200 jobs<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
Hardide Industrial<br />
coatings<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of exit<br />
2000 420,000 5 April<br />
2005<br />
See www.oion.co.uk/press_releases/hardide_AIM.html for details.<br />
*For one specific institutional investor that exited on listing<br />
212<br />
Multiple of return for<br />
investors (i.e. times<br />
return on money)<br />
3x*
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Solent Investment Opportunity Network (SION)<br />
Contact person Arthur Monks, Director<br />
Contact details Portsmouth Technopole<br />
Kingston Crescent<br />
Portsmouth<br />
Hants. PO2 8FA<br />
T: +44 2392 658 268<br />
F: +44 870 127 5790<br />
E: amonks@sion.org.uk<br />
W: www.sion.org.uk<br />
Date of creation<br />
2003<br />
Number of employees<br />
1 (part time)<br />
Type of network<br />
South Coast Investors<br />
Legal status of the BAN<br />
Company Limited by Guarantee,<br />
Hosting organisation<br />
Formal partner organisations<br />
Funding sources:<br />
Solent Angels Ltd<br />
2005<br />
Grant Thornton, Blake Lapthorn Linnell, Univ<br />
Of Portsmouth<br />
2003 2004 2005<br />
Number of Business Angels 25 40 50<br />
Number of projects<br />
Number of deals made 4 3 n/a<br />
Average amount of the deal £65k £75k n/a<br />
Matching services of the network:<br />
• Firms from any location/Sector<br />
• Private Investors targeted in the Solent region<br />
• Corporate investors welcome<br />
• Quarterly Presentation Events<br />
• Ad Hoc arrangements between events<br />
• Online investor self certification included in subscription.<br />
• Strictly registered investors only at events.<br />
How are clients acquired?<br />
• Word of mouth<br />
• Web searches www.sion.org.uk<br />
• Enterprise Hubs & Universities in South<br />
Fees:<br />
o Firms Review Process fee: £250<br />
o Firms success fee: £1000 + 5%<br />
o Annual fees for Private Investors: £100<br />
o Annual fees for Corporate Investors £500<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: 20<br />
Success story: n/a<br />
213
Contact person:<br />
Contact details<br />
Type of network<br />
Date of creation<br />
Number of employees<br />
Legal Status<br />
Hosting organisation<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
TECHINVEST<br />
95%<br />
2005 M<br />
Vivienne Upcott Gill<br />
Northwest Regional Development Agency,<br />
Renaissance House<br />
PO Box 37, Centre Park<br />
Warrington WA1 1XB<br />
T: +441925 400302<br />
F: +441925 400402<br />
E: vivienne.upcott-gill@nwda.co.uk<br />
W: www.nwda.co.uk<br />
Regional, North West of England<br />
1993<br />
n/a<br />
Part of Northwest Regional Development<br />
Agency (NWDA) (UK Regional<br />
Development Agency<br />
NWDA<br />
1% 4% Fees charged from<br />
Business Angels<br />
Fees charged from<br />
enterprises<br />
European Funds<br />
2003/04 2004*<br />
Number of Business Angels c100 c115<br />
Number of projects 44 23<br />
Number of deals made 24 18<br />
Average amount of the deal £62.000 £70.000<br />
*Statistics collected by financial year (1 Apr to 31 Mar). These are 03/04 results.<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2003/04 2004<br />
214<br />
Angels<br />
Projects<br />
Deals
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o Fees charged to entrepreneurs: less than 500€<br />
o Fees charged to business angels: less than 250€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story:<br />
Name of<br />
company<br />
Sector of<br />
activity<br />
Date of<br />
investment<br />
Amount<br />
invested<br />
(€)<br />
Number of<br />
angels<br />
involved<br />
Date<br />
of<br />
exit<br />
Multiple of return<br />
for investors (i.e.<br />
times return on<br />
money)<br />
2.6<br />
Nursing Home Healthcare 1999 £60K 1 May<br />
05<br />
Travel<br />
Company<br />
Travel 1993 £7.5K 1 T/O 2004 £40m<br />
Surface Scientific<br />
AIM market<br />
Transforms technology<br />
Millbrook Scientific<br />
AIM market<br />
Scientific<br />
Instruments<br />
technology<br />
215
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
THAMES VALLEY INVESTMENT <strong>NETWORK</strong><br />
2005<br />
Contact person Eileen Modral<br />
Contact details Crowthorne Enterprise Centre<br />
T Wing Crowthorne Business Estate<br />
Crowthorne RG45 6AW<br />
T: +44 1344 753 365<br />
F: +44 1344 751 601<br />
E: eileen@tvin.co.uk<br />
W: www.tvin.co.uk<br />
Date of creation<br />
March 2003<br />
Number of employees<br />
1<br />
Type of network<br />
National<br />
Legal status of the BAN<br />
Trading style of company limited by guarantee<br />
Hosting organisation<br />
OION<br />
Funding sources:<br />
1) Success fees on investments (3% - exc VAT)<br />
2) Membership fees for investor members (£125 + VAT annually)<br />
3) Sponsorship (TVEP, PwC, Kleinwort Benson PB)<br />
2003 2004<br />
Number of Business Angels 15 47<br />
Number of projects 73 77<br />
Number of deals made 1 5<br />
Average amount of the deal £50k £322k<br />
90<br />
80<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
2003 2004<br />
Matching services of the network:<br />
• Newsletter or Information Bulletin<br />
• Data Base of Contacts<br />
• Company Presentation Events<br />
• Investor Clubs/ Networking Meetings<br />
• Investment Forums & Fairs<br />
• Internet Based Matching Service<br />
• Training in Investment Readiness for SMEs<br />
• Training and Capacity Building for Investors<br />
216<br />
Angels<br />
Projects<br />
Deals
How are clients acquired?<br />
• Dealflow from peer networks<br />
• Oxford Innovation tenant companies<br />
• TVIN’s investor members<br />
• University Tech Transfer offices<br />
• Entrepreneurs<br />
• Sponsors<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Fees:<br />
o SMEs initial registration fee: £300+VAT to present at investment meeting<br />
o SMEs success fees: 3%<br />
o Annual fee for Angels: £125 pa + VAT<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: Assume 3-5 jobs per investment deal: approx. 25 jobs<br />
Success story: n/a<br />
217
Contact person<br />
Contact details<br />
Type of network<br />
Date of creation:<br />
Number of Employees:<br />
Legal status<br />
Partner organisations:<br />
Funding Sources:<br />
Number of projects submitted<br />
Number of Angels<br />
Number of deals made<br />
Average amount of the deal<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
University of Warwick Science Park<br />
(Minerva business angel network)<br />
90%<br />
10%<br />
1996 1997 1998 1999 2000 2001 2002<br />
Harry Stott<br />
Barclays Venture Centre<br />
Sir Williams Lyons Road<br />
Coventry CV4 7EZ<br />
T: +44 24 7632 3114<br />
F: +44 24 7632 3001<br />
E: capital@uwsp.co.uk<br />
W: www.warwicksciencepark.co.uk<br />
Regional<br />
1994<br />
3<br />
Publicly owned private limited<br />
company<br />
NBAN<br />
Fees from<br />
entrepreneurs<br />
Sponsors<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: 100-500€<br />
o Fees charged to business angels: less than 100€<br />
218<br />
2003 Mid 2004
Contact Person<br />
Contact details<br />
Date of creation<br />
Number of employees<br />
Type of network<br />
Legal status of the BAN<br />
Hosting organisation<br />
Funding sources:<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
XÉNOS-THE WALES <strong>BUSINESS</strong> <strong>ANGEL</strong><br />
<strong>NETWORK</strong><br />
40%<br />
60%<br />
2005<br />
Leanna Davies<br />
Oakleigh House, Park Place<br />
Cardiff, CF10 3DQ<br />
T: +44 02920 801713<br />
F: +44 02920 338178<br />
E: info@xenos.co.uk<br />
W: www.xenos.co.uk<br />
September 1997<br />
8<br />
National- Wales<br />
Limited by guarantee<br />
Finance Wales and Welsh<br />
Development Agency<br />
European Funds<br />
National Funds<br />
1997 1998 1999 2000 2001 2002 2003 2004<br />
Number of Business<br />
Angels<br />
40 70 77 66 72 87 118 135<br />
Number of projects 8 82 44 64 58 49 45 56<br />
Number of deals made 1 3 14 15 10 10 7 9<br />
Average amount of the<br />
deal (£)<br />
40.000 130.000 63.000 95.000 86.000 45.000 53.000 74.000<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
1997<br />
1998<br />
1999<br />
2000<br />
2001<br />
219<br />
2002<br />
2003<br />
2004<br />
Angels<br />
Projects<br />
Deals<br />
M
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
How are clients acquired?<br />
• Newsletter<br />
• Articles in the regional or national press<br />
Fees:<br />
o Fees from business angels: £100+vat<br />
o Fees from entrepreneurs: £250 +vat<br />
Estimate of t he number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
220
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
YORKSHIRE ASSOCIATION OF <strong>BUSINESS</strong> <strong>ANGEL</strong>S<br />
Contact person Barbara Greaves – Manager<br />
Charlotte Atkinson - Administrator<br />
Contact details Yorkshire Association of Business Angels<br />
1 Hornbeam House, Hornbeam Park<br />
Hookstone Road, Harrogate HG2 8QT<br />
T: + 44 1423 810149<br />
E: admin@yaba.org.uk<br />
W: www.yaba.org.uk<br />
Type of network<br />
Regional<br />
Date of creation<br />
June 1995<br />
Employees<br />
2<br />
Legal status<br />
Formal partner organisations<br />
Funding sources:<br />
.<br />
11%<br />
3%<br />
Limited Company since Sept 2000<br />
Yorkshire Forward & South Yorkshire<br />
Investment Fund<br />
6% European funds<br />
20%<br />
Regional funds<br />
60%<br />
Fees from BAs<br />
Fees from<br />
entrepreneurs<br />
Sponsors<br />
2005<br />
2000/1 2001/2 2002/3 2003/4<br />
Number of projects submitted 62 75 65 67<br />
Number of Angels 75 86 97 106<br />
Number of deals made 6 6 8 10<br />
Average amount of the deal £25k £30k £43k £47k<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2000/1 2001/2 2002/3 2003/4<br />
221<br />
Projects<br />
Angels<br />
Deals
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
Matching services of the network:<br />
• Newsletter or information bulletin<br />
• Database of contacts<br />
• Meetings<br />
• Investment Clubs<br />
• Investment forums and fairs<br />
• Internet<br />
• Specific service for business angels investing in high-technologies<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Visits to enterprises<br />
• Articles in the regional or national press<br />
Fees:<br />
o Fees charged to entrepreneurs: less than 100€<br />
o Fees charged to business angels: less than 100€<br />
Estimate of the number of jobs created as a result of the network activity over the last 3<br />
years: n/a<br />
Success story: n/a<br />
222
1. Background<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
RUSSIA<br />
A number of Russian regions including Saint Petersburg, Nigniy Novgorod, Samara, and<br />
Novosibirsk have expressed interest in setting up regional BANs since the beginning of 2004.<br />
As for now, more or less formal BANs operate only in Moscow, Rostov-on-Don, and Saint<br />
Petersburg.<br />
2. Statistics<br />
2003 Mid 2004<br />
Number of BANs 1 4<br />
Number of Business Angels - n/a<br />
Number of deals - n/a<br />
Number of accredited projects - n/a<br />
Number of commercial BANs - 2<br />
Number of non-commercial BANs - 2<br />
Number of national BANs - 0<br />
Number of regional BANs - 1<br />
National association - 0<br />
3. BAN legal status<br />
Partnership, limited companies.<br />
4. EBAN members<br />
Russian National Business Angel Network<br />
223
Contact persons<br />
Contact details<br />
Type of network<br />
Date of creation<br />
Number of Employees<br />
Legal status<br />
Hosting organisation<br />
Formal partner organisation<br />
Funding Sources:<br />
Matching services of the network:<br />
• Database of contacts<br />
• Meetings<br />
• Internet<br />
<strong>EUROPEAN</strong> <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong> - Directory of Network 2005<br />
MOSCOW <strong>BUSINESS</strong> <strong>ANGEL</strong> <strong>NETWORK</strong><br />
45%<br />
Alexander Stavinov, Liana Hayrapetyan<br />
23 Dostoevskogo street, Moscow<br />
T: +7 095 780 08 11<br />
F: +7 095 780 08 13<br />
E: info@business-angels.ru<br />
W: www.business-angels.ru<br />
Regional<br />
September 2003<br />
4<br />
Not-for-profit partnership<br />
JSK Partners<br />
JSK Partners<br />
5%<br />
6%<br />
Fees from<br />
entrepreneurs<br />
Fees from<br />
business angels<br />
Sponsors<br />
2003 Mid 2004<br />
Number of projects submitted 17 72<br />
Number of Angels 7 22<br />
Number of deals made n/a n/a<br />
Average amount of the deal n/a n/a<br />
How are clients acquired?<br />
• Event and information fairs<br />
• Newsletter<br />
• Targeted publicity<br />
• Articles in the regional or national press<br />
• Cooperation agreements with local banking, financial or fiduciary institutions<br />
Fees:<br />
o Fees charged to entrepreneurs: 100€ - 500€<br />
o Fess charged to business angels: 100€ - 500€<br />
224