Nordic Angel Program opens an opportunity to invest in the best start-ups of Baltic Sea Region

20 September, 2019

EstBAN invites investors to join the Nordic Angel Program. It is a springboard into the world of venture capital for new business angels, whilst experienced business angles have a chance to learn from the best in the world. The program ends with an investment in a jointly chosen start-up. Participants are expected to invest at least 5000 euros. The deadline to join is 1st October. 

President of Estonian Business Angel Network EstBAN, Rein Lemberpuu, says that the Nordic Angel Program is the best gateway into the world of venture capital. “It is a tour of the jungle with a professional guide. We lay out the main principles. An overview is provided of both legal issues and how to assess a company’s value. At the same time, the new business angels get to meet seasoned venture capital investors. The program ends with a joint investment – where investments are made with experienced business angels, who are able to select promising start-ups,” he said.

Lemberpuu added that they provide more than just basic training. “We will learn from the best in the world. For example, the Dutch angel investor and entrepreneur Maurice Beckand Verwee will share his best practices for joint investments. Experienced Danish angel investor Peter Sandberg will speak about assessing the value of a start-up, which means seasoned investors also gain from participating in the program. At the end of October, we have planned a trip to Silicon Valley – best international practice should be acquired where the highest number of venture capital investments are made. By working closely with the largest Estonian start-up events like Latitude59 and sTARTUp Day, we can offer investors a wide selection of high growth-potential innovative start-ups,” he added.

Over a hundred start-ups participated in the spring round

Nordic Angel Program was established by EstBAN and Finnish, Danish and Norwegian angel investor networks. The first joint investments were made through the program this spring. In total, 35 business angels participated in the spring round led by EstBAN. The business angels included investors from Estonia, Netherlands, Belgium, Russia and Saudi Arabia. The joint decision was to invest 175 000 euros in the Estonian start-up Fractory. Altogether, more than a hundred start-ups applied for the joint investment. 

Raigo Õunapuu, who joined EstBAN at the end of 2017, was happy with the spring round. “I primarily joined the business angels to gain experience in order to evolve as an investor. I also invest in stocks and bonds – there is no point in putting all your eggs in one basket. As a business angel, you have to consider slightly other principles to assess productivity, and you have to grasp legal issues. This is what the program offers,” he said.

Applications from start-ups are expected until October 31!

Start-ups can apply to participate through EstBAN’s homepage. First, 15 of the strongest are chosen, who will pitch their company to the business angels. Then, the top four are selected, who will move on to the international start-up festival sTARTUp Day main stage to pitch their company. During joint assessment, one company will be chosen from the four to receive an investment worth at least 250 000 euros. 

Estonian Business Angels Network (EstBAN) is a network of private investors investing in companies in their early development phases. The goal is to develop the entrepreneurial environment and volume of angel investments. Currently, EstBAN has more than 120 members who analyse start-ups with the support of the network and make joint investments. EstBAN welcomes everyone who wants to contribute their time and money to innovative companies that are still small but have high growth potential.