Last year EstBAN members invested 29.9M euros into startups, which is an all time high. 13.5M € was invested as angel investments, 14.9M € through funds and 1.45M € was invested through crowd funding.
EstBAN’s president Lev Dolgatsjov said that the amount of investments have risen annually but this kind of an explosive growth was beyond expectations.
“I sincerely believe that the growth of investments has risen due to the increasing amount of members, great synergy within the organisation and the visibility and reputation EstBAN has gained in Estonia and Europe. I hope that this year will also show a steady growth despite the global situation. There’s a reason why Estonia is ranking on top of the world with unicorns per capita”.
By the end of 2021 there were 250 members in EstBAN, and during last year a whopping 85 members joined the ranks of EstBAN angels.
“This kind of growth definitely implies trust towards EstBAN as an organisation and startups are certainly sparking more interest as an asset class”, said Anu Oks, the Managing Director of EstBAN.
Oks added that the rise of members can be tied to the strong collaboration with local and international organisations and several training programs EstBAN is carrying out to increase the knowledge of investment savviness among new angel investors.
- There are 250 members in EstBAN, 10% of which are foreign investors and 7% women.
- EstBAN has 15 associate members – different organisations and companies who desire to raise their awareness in investing into startups and increase their investment portfolio.
- 41% of the members prefer investing in syndicates.
- Since 2018 there have been syndicates led by EstBAN in total of 3.1M euros.
- During 2021 there were recorded 762 investments, most of which were directed to Estonia but investments to companies based in Africa and Asia are also on the rise.
- The most popular sector for EstBAN members to invest into is still fintech, followed by business – and HR solutions.
- This year EstBAN celebrates its 10th anniversary .
EstBAN’s partners and associate members include but are not limited to: Startup Estonia/Kredex, EAS, Elisa Eesti, Civitta, Harju Elekter, Httpool, Oracle, Tallinna Ettevõtlusinkubaatorid, Tehnopol, Workland, Cleantech Estonia, Swedbank, KPMG, Uplegal, Alesco Ventures, as well as international and local VC funds and angel networks.
To see the whole annual review and investments statistics, please click here.