Guides on Angel Investing

Learn about angel investing, business angel networks, evaluating early stage investments, and more by reading research from EBAN and our trusted angel network partners:

Shareholder Agreements – Guidelines and Example

A shareholder’s agreement regulates the relationship between shareholders in connection with the company’s business. The purpose of the agreement is to define the relationship between the different shareholders, their share of the undertaking, the management of the business, the disposal of shareholder rights and commitments, and to structure the mechanism in management of a company.

EBAN Report On Why Business Angels Do Not Invest

EBAN is pleased to present its latest research report focused on understanding the reasons why angel investors choose not to invest in early stage SMEs. The report, titled “Why Business Angels Do Not Invest”, is based on direct responses received from EBAN members and participants of our investor training workshops organized during the years of

ACA Guide on How to Start and Manage an Angel Group

As more and more investors and communities recognize the benefits of establishing angel groups, it's important to have resources that ensure that they don't have to recreate the wheel. The Kauffman Foundation and several ACA members have developed tools that will help groups in formation get a quicker and more effective start. The page includes many

ACA Webinars, Articles and Podcasts on the Basics of Angel Investing

ACA in partnership with leading organizations, has created the Rising Tide Education Program, helping new angels discover the basics of becoming an angel investor with this unique collection of educational resources. Webinars (One hour programs) Articles: What new angels need to know Podcasts: 20-minute educational videos The Rising Tide Program was created to increase diversity of the angel

European Commission Report on Effectiveness of Tax Incentives for Venture Capital and Business Angels

The Capital Markets Union project (CMU) aims to strengthen the single market by deepening the integration of investment across the European Union. Improved access to finance is a key component of this project, in particular for start-ups, small- and medium-sized enterprises (SMEs), and young companies with innovative growth plans. Historically, European SMEs have been primarily

Anges Québec Capital Glossary

This glossary, produced by Anges Québec, contains original definitions as well as definitions imported from various sources. To that effect, Anges Québec thanks First Angel Network, GoTroo, National Angel Capital Organisation (NACO), Osler Hoskin & Harcourt and Réseau Capital for their contribution to the realization of this project. Download Glossary in English Download Glossary in

NACO Term Sheets

Below you will find the 4 term sheets produced for the NACO Common Docs project Common Shares A Common Share deal aligns founders and funders with the same class of shares, and fully negotiates all rights and terms in the Shareholders Agreement. It may be used at any stage of deal before a Series A,

A Practical Guide to Angel Investing: How to Achieve Good Returns by NACO

NACO has announced the release of the first NACO Academy publication A Practical Guide to Angel Investing: How to Achieve Good Returns. Written by Dr. Steven A. Gedeon, the Guidebook is a practical and comprehensive guide to early-stage funding. The guidebook is a must-read for new Angel investors, experienced Angel investors, and entrepreneurs seeking Angel financing.

Fostering Business Angel Activities in Support of SME Growth

EBAN is proud to present the Guidebook on “Fostering Business Angel Activities in Support of SME Growth”. Written by EBAN for the European Commission as part of a series, this guidebook describes how business angel investments and co-investments can reach a critical mass across certain sectors, regions or countries. It discusses the various financial instruments

Guide to Finding an Angel Investment

SWEAT, NETWORKS, EQUITY – Guide to Finding an Angel Investment – has been written by Sami Etula, a sweat equity investor and active meber of Fiban, with the aim to help all enterpreneurs wondering where and how to find business angel investment.   The Guide will provide information on everything that you need in order

Resources for Impact Investment

  EBAN has compiled an essential list of resources targeted to impact investors: 2014                 Status of the Social Impact Investing Market: A Primer The market for social impact investments – investments made with the intention to generate measurable social and environmental impact alongside a financial return – holds great

Resources for Business Angels

EBAN has compiled an essential list of resources targeted to angel investors: 2014 Earn Money with SMEs (French) This guideprovides an  explanation on investment  in SMEs. It is presented and recommended as a resource for BAs, where you can answer questions like: What is an SMEs? Why and How investing in a small business? Seven Tips to enhance your

Creating Your Own Angel Investor Group

A Guide for Emerging and Frontier Markets is a manual built from the Kauffman Foundation’s 2004 publication, A Guidebook to Developing the Right Angel Organization for Your Community , which was crafted for a U.S. audience. Many of the decision steps to create an angel network are the same, no matter if you are in

Investing in Private Companies – Insights for Business Angel Investors

This publication is the result of an agreement signed between EBAN and HBAN with the purpose of serving the organisations’ mutual goals of increasing the quantity, quality and success of angel investments in Europe, thus creating a better understanding of angel investment for potential new angel investors and entrepreneurs. This guide has been prepared to

Resources for Business Angel Networks

EBAN has compiled an essential list of resources devoted to Business Angel Networks management. 2014 [private_Member Level] Code of Conduct for BANs proposed by EBAN’s Law & IP Working Committee [/private_Member Level] [private_Member Level] Articles of Association for BANs proposed by EBAN’s Law & IP Working Committee [/private_Member Level] 2013 [private_Member Level] Code of Conduct (EBAN) [/private_Member Level] [private_Member Level] Code of Conduct (UKBAA) [/private_Member Level] [private_Member Level]

A Guide to Help Evaluate Early Stage Investments