Ask An Angel: a new programme launched by THE NEXT SOCIETY!
As a partner of the EU-funded project THE NEXT SOCIETY, EBAN has launched Ask an Angel, a brand-new virtual mentoring program for start-up entrepreneurs based in the MENA region. The program is backed by ANIMA Investment Network as the coordinator of THE NEXT SOCIETY.
The program is a highly customized service that supports +25 start-ups from 6 countries in the MENA region during these times of uncertainty and challenges post-pandemic. Each entrepreneur receives up to 8 hours of virtual coaching by a business angel in the form of 1:1 sessions, and participates in 5 Academies delivered by top-notch entrepreneurs and investors on key topics related to investment readiness, such as customer acquisition, validation & prototyping, financial planning, going global, and pivoting. By connecting entrepreneurs from the Mediterranean area with seasoned international investors, the program represents a great opportunity for founders to validate and accelerate their business and establish meaningful relationships.
Mentors are sourced from EBAN’s diverse network and matched with companies operating in their industry of expertise. Our 2020 class spans from ed-tech to VR, biotechnology, mobility, health-tech and enterprise software.
The program was officially launched on October 28-29th 2020 when Ask an Angel founders were invited to the European Angel Investment Summit, hosted annually by EBAN and gathering +300 investors, innovators, policymakers, and ecosystem partners. During the event, the class of entrepreneurs worked on their business model and investment strategy through closed-door dedicated sessions, networked with peers, investors, and investment experts over seminars and roundtables.
Ask an Angel is the perfect opportunity for entrepreneurs to obtain advice from the best mentors on how to grow their business and thrive in the new normal!
If you are interested in becoming a mentor for Ask an Angel, get in touch with us by dropping an email to euprojects@test.artmedia.ee .
The £10m commitment from British Business Investments’ Regional Angels Programme will be invested by Newable Ventures, in partnership with BPEC, to deliver around £25m of new funding. The commitment will be split between Newable’s Enterprise Investment Scheme (EIS) fund, which supports a diversified UK-wide portfolio of knowledge intensive companies, and a separate pool to back entrepreneurs and businesses specifically across the South West.
In the past three years, Newable Ventures and Bristol Private Equity Club have participated in more than 60 investments combined, totalling over £40m, and now hold stakes in companies such as Cognism, Hummingbird, Rovco and Inductosense.
Chris Manson, CEO of Newable, comments: “This funding commitment forms part of an exciting and ambitious drive to level up business investment across the UK and increase the amount of capital being invested into small British businesses at the core of our economy. Newable Ventures’ investment model, combining its EIS Fund with experienced business angels, is a powerful recipe for providing patient capital to high growth early stage UK companies. The wide-ranging support that Newable provided to some 25,000 SMEs in 2019 also demonstrates our role as more than just a source of capital but as a unique provider of an eco-system of services that can help small businesses thrive.”
Jerry Barnes, founder of Bristol Private Equity Club said: “As the largest and most active Angel Investor in the South West, with 100 members, we know that there is an exciting range of innovative SMEs in the region that can make a major contribution to prosperity with the right support. We are very much looking forward to co-investing with Newable and British Business Investments, helping to select the entrepreneurs and businesses that will go on to achieve great success.”
Judith Hartley, CEO, British Business Investments, said: “This innovative business model, which leverages the expertise of both Newable Ventures and BPEC, enables British Business Investments to invest alongside two angel networks and the Newable Ventures EIS Fund through our Regional Angels Programme. This initiative will significantly increase the availability of early stage capital to support growing smaller businesses across the South West of England and also the rest of the UK.”
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm. British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government.
Risk warning: Your capital is at risk. Investing in early stage companies involves risks including loss of capital, illiquidity, lack of dividends and dilution. These investments may not be covered by the Financial Services Compensation Scheme.
Newable Ventures Limited does not give tax or investment advice. The availability of tax relief depends on individual investors’ circumstances, and on investee companies’ qualifying status, both of which may be subject to change. If you are in doubt about eligibility for tax reliefs or the tax treatment of your investment, you should seek independent tax advice. Please read our risk statement here: https://investment.newable.co.uk/risk-warning.
Newable Ventures Limited (FRN 843924) is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales | Registered number 10303336 | VAT number 237 9198 23 | Registered office 140 Aldersgate Street, London, EC1A 4HY. Newable Ventures Limited is registered with the Information Commissioner’s Office (ICO) with the registered Data Protection Number ZA789052.
[Dhaka, Bangladesh and Brussels, Belgium] – Bangladesh Angels Network (BAN), the pioneering angel investment network in the country, and the European Business Angels Network (EBAN), the pan-European representative for the early stage investor community, have announced today that they are joining forces to work together to source, cross-refer, and promote linkages in technology-enabled startups in Bangladesh and Europe to create an enabling environment for venture investing in the both regions. Together, the two partners will jointly support in creating a pipeline of investment opportunities in areas of mutual interest in both regions, host joint-showcases (digitally), promote distance investing and culture in both angel communities, and engage in cross learning activities for both ecosystems.
“This is a great opportunity for our members to get insight into the Bangladeshi angel and entrepreneurial community. – says Jacopo Losso, EBAN Director of Secretariat – We look forward to building a long-lasting partnership with Bangladesh Angels Network that will benefit startups, investors, and angels alike.” “A growing number of startups and software firms in Bangladesh are looking to or already serving the EU market. In addition, the EU contains many pockets of Bangladeshi diaspora communities who increasingly want to connect with and invest in companies in Bangladesh. Many EU-based digital businesses are also looking for new growth markets and Bangladesh presents a huge opportunity for them. Having a trusted partner like EBAN allows us to better serve all three stakeholders while absorbing best practices,” says Nirjhor Rahman, CEO of Bangladesh Angels.
The two partners are looking to promote early-stage technology companies with revenue traction, a product/service in the market, a full-time team and clear fundraising plans and goals. Interested companies can contact info@test.artmedia.ee and info@bdangels.co for more information. Additionally, the parties will be conducting public workshops in the near future regarding early-stage investment.
About EBAN:
EBAN is the pan-European representative for the early stage investor community gathering over 150 member organizations in more than 50 countries today. Established in 1999 by a group of pioneer angel networks in Europe with the collaboration of the European Commission and EURADA, EBAN represents a sector estimated to invest 11.4 billion Euros a year and playing a vital role in Europe’s future, notably in the funding of SMEs. EBAN fuels Europe’s growth through the creation of wealth and jobs.
About Bangladesh Angels Network:
Launched in 2018 with support from local and international stakeholders, Bangladesh Angels Network is the nation’s first angel investment network created with a mission to nurture the innovation and entrepreneurship ecosystem in Bangladesh. We help startups and rising enterprises accelerate their growth through customized pre-investment support, connections to local and global investors as well as mentorship and market development. Investors get access to a highly curated deal-flow across sectors, invest alongside industry leaders and post-investment portfolio monitoring. Prospective angel investors and entrepreneurs can go online to sign up for the network or apply for funding via www.bdangels.co.
Published by CNBC on Thursday, Nov. 26 2020 6:55 AM EST.
LONDON – Sequoia Capital, one of the best-known venture capital firms on Menlo Park’s Sand Hill Road in Silicon Valley, has made a major new bet on what it thinks is the next hottest thing: Europe.
Founded 48 years ago by Don Valentine, the prestigious firm that backed Apple and Google early on, is poised to sign a lease on a new office in London in the next couple of weeks to house a small but growing team of European investors. “Being physically on the ground … enables us to move more quickly … and to dramatically level up the effort,” veteran Sequoia partner Matt Miller told CNBC on a video call on Monday. “I was coming (to London) one week a month but you can only see and do so much. We felt that being on the ground would make a material difference in our ability to find opportunities earlier.”
There are now several European tech firms worth in excess of $10 billion and Miller believes people are starting to ask when a $100 billion start-up in Europe will emerge. Sequoia’s U.S. team has already invested hundreds of millions into European start-ups including AI chipmaker Graphcore, fintech firm Klarna, flight finder Skyscanner, online makeup retailer Charlotte Tilbury, life science firm Cambridge Epigenetix and security firm Tessian. But it’s concerned that some of the most promising start-ups in cities like London, Paris, Berlin and Stockholm may be slipping through the net — Sequoia missed start-ups like AI lab DeepMind, which sold to Google in 2014 for $600 million, and chip designer Arm, which is in the process of being sold to Nvidia for $40 billion.
Miller was reluctant to say exactly where the new London office will be in case it falls through. He did, however, confirm that it won’t be in Mayfair — the swanky London neighborhood where several other VC firms including Index Ventures and Accel are set up — as that’s not the “vibe” the firm is looking for. “I don’t want to share anything specific but it’s in a great neighborhood that we feel will be a great destination for founders to come and spend time with us,” he said. After years of rumors, Sequoia’s official arrival in Europe is viewed in some corners as a big deal for the continent’s tech scene. Alex Kayyal, a Salesforce Ventures International partner who is based in London, told CNBC that Sequoia is “one of the most respected venture firms globally.” The fact that the firm has formally set up in Europe “can only be validation for entrepreneurs here,” he said.
Sequoia has not said how much it plans to invest in Europe and, unlike many other firms, it doesn’t disclose how many billions it has under management. So far, Sequoia’s team in London comprises just four people: Miller, former Accel partner Luciana Lixandru, former EQT Ventures partner Zoe Hewitt and George Robson, who used to be a product lead at fast-growing fintech firm Revolut. There’s no plans to stop there though. “We’re looking right now to hire a younger person who is four or five years out of school to help us on our investment efforts,” said Miller. Asked if that person is likely to come from an investment bank (where many venture capitalists start their careers) or another VC firm, Miller said it will be “somebody who’s probably worked in some form of investing job,” but he declined to be more specific.
The Menlo Park team will be “intimately involved” in all the European investments, according to Miller.“We were previously covering this from California and we’ve now added some incremental people so it doesn’t feel like it’s a team of four going to five, it feels like it’s a team of 24 going to 25,” he said. Sequoia is also in the early stages of setting up a scout network of angel investors in Europe that it will use to find and invest in new companies. The company, which has a similar network in the U.S., doesn’t disclose how many scouts it has.
Lessons from Google Ventures
Sequoia isn’t the first high profile U.S. VC firm to expand into Europe in recent years. Google Ventures (now GV) launched a dedicated Europe operation in 2015 with five partners based out of London. Things didn’t go to plan though, and the European fund was ditched after the California headquarters reportedly turned down “a lot” of the London partners’ investment ideas.
Miller said Sequoia talked to “a lot of people” at GV before setting up in London. Ultimately, Sequoia has decided to start off small and expand over time. Miller said “moving gradually to expand instead of quickly rolling in with five new partners,” which is what GV did, will give Sequoia a chance to integrate the new team members and “have that better relationship across the two teams.” Sequoia’s European operation is much more closely linked with the main U.S. operation than Sequoia India and Sequoia China. “The difference is that Europe will not be its own distinctive breakout, separate set of funds,” Miller said. “It will be part of the U.S. fund.”
