A thriving startup ecosystem in Central and Eastern Europe can provide you with many diverse sources of capital needed to fund and scale your business. Today we would like to delve deeper into the topic of Business Angels, as angel investing can become an excellent opportunity for you to secure the necessary capital for your innovative startup and access business networks, industry connections, and mentorship. These are only a few of the many advantages of Business Angel funding, so if you are looking for support in accelerating your startup through a Business Angel Network, we have prepared a roundup of leading networks in the CEE region.
So without further ado, let’s have a closer look at these active Business Angel Networks and learn more about their activities and investment strategies.
TechAngels Romania is a group of experienced investors with a proven track record as corporate experts or founders of successful Romanian startups. They have been developing tech businesses in Romania and South-Eastern Europe since 2013, connecting early-stage tech startups with business angels seeking profitable investment opportunities. They aim to not only fund but also to educate and support young entrepreneurs from the region and provide them with access to acceleration programs and other tools essential for growing businesses in increasingly competitive environments. They facilitate investments in tech projects that have either a ready product, a prototype or have reached a market fit stage in web, mobile, embedded software, hardware, or meditech. Their average size of investments varies between 10.000 and 200.000 EUR. So far, in the aggregate portfolio of TechAngels Investors, there are 220 startups.
Women Business Angels
This professional business non-profit organization, based in Budapest, has a mission to support female participation in innovative decision-making in the CEE region. In Hungary, this area of economic activity is still dominated by men and Women Business Angels are empowering female investors to become business angels and to improve their competitiveness as entrepreneurs in the international market. They provide training, tools, networking and mentoring resources to expand innovation capacity in the region, foster a culture of inclusiveness and to ensure active engagement both from men and women. Most of their activities revolve around educating and sharing the business experience with prospective business angels – both men and women – through different courses, meetings and programs. They also provide connections between co-working offices and women’s business networks both on the local and the international markets.
DEPO Angels Network
DEPO Angels Network is a part of Czech association DEPO Ventures, which builds a comprehensive and extensive investment ecosystem through a variety of activities, that include an international syndicate of more than 70 angel investors; Angel Fund “Grouport” and Seed Fund. This angel network mostly focuses on cross-border investment deals and comprises of experienced business executives and successful entrepreneurs. They cooperate only with pre-seed and seed-stage startups from the CEE region, providing them with seed capital, advisory services and many special perks and offers from their corporate partners.
CEO Angels Club
CEO Angels Club is the largest network of business angels in Bulgaria. It comprises of active investors and senior executives who are selecting, screening and eventually investing in companies with high growth potential. They conduct due diligence, organize pitching sessions and help investors to alleviate risks of their investments by locating their funds in a variety of companies. They have many companies in their portfolio and are constantly on the lookout for early-stage (post-accelerator) startups, with high scalability and potential to break even or on the clear path to get to a meaningful milestone such as seed or series A funding. They are mostly interested in products that are already in the market or in their beta version and which are poised for fast growth and they can offer a capital between 10,000 EUR and 200,000 EUR.
Transylvania Angels Network
Transylvania Angels Network (T.A.N) is a project created by Cluj Startups – a Romanian NGO that supports the growth of the startup ecosystem in Romania. It comprises of business specialists that are interested in angel investing and mentoring tech startups. The organisation addresses the needs of both startups and investors – they are not only providing access to capital but also conducting analyses of companies’ profitability and scalability. The focal points of their activities are national, early-stage companies.
This polish-based network of Business Angels aims to promote the idea of angel investing in the region, by establishing connections between private investors and startup founders looking for capital. They present the most promising and innovative ideas to their members at regular meetings, supporting their investment activities by providing them with resources, tools, connections, and access to companies with high-growth potential. They foster an exchange of experiences as well as provide assistance in substantive and legal matters.
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