carlo asquini presents angels for growth
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30/11/2015 www.italianangels.net 2
Angel Investing …
• The match between:
• Business Angels (BAs); individuals who contribute their time, knowledge, contacts and/or money to growth businesses in exchange for equity or (convertible) debt to be repaid.
• Entrepreneur/ ”start-upper” who needs financing to grow his/her business.
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Angels’ qualities …
A BA wants to be present, active and wants to help / facilitate the development of the day by day
activity ... But does not replace the entrepreneur
Business Angels…
Feeling with the entrepreneur and knowledge of technology are essential to make an Investment
A BA is part of a network where information are constantly shared. It 'an amplifier of successes ...
... and any weaknesses!
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What are Angels looking for?
• An outstanding Management team
• An exciting idea with a sound business model
• The possibility to help fillingcritical gaps
• High returns
• Exit
• Entrepreneurs and co-investors theydo not trust
• Entrepreneurs that do not financetheir own business and/or did not getfinancing from family and friends
• Absence of at least one full time founder
• Management that asks for too muchall together and/or is not specificabout the use of the funds
• Statements like: • “we do not have competitors” • “the market is so big that there is space for
everybody”
YES NO
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10 tips to attract the interest of Business Angels
1. Recognize the difference between Venture Capital and Business Angel
2. You must create a business plan that puts particular emphasis on your sustainable advantage
3. "a good idea" is often not enough to raise capital from private investors: you should work to provide concrete proof that the idea is economically attractive (“idea” vs. “business idea”)
4. You must accept the fact that if you want to raise capital this still requires an expenditure
5. You should contact Business Angel as consistent as possible with your idea
6. Try to recognize what skills need your start-up to success
7. Raise capital is a very long process
8. Recognize that Business Angels are "value-added” investors
9. You must be eye-catching and show all your character
10. Invest your money in your idea
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Who we are
Italian Angels for Growth (IAG), the largest Angel Group in Italy, wasfounded in 2007 as a non-profit association, by nine Founding Members.Nowadays IAG consists of about 120 members.
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IAG members
Our organization is promoted and managed exclusively by individualinvestors and we operate in order to offer our members the bestopportunities to invest in. The Organization is, therefore, totally apoliticaland independent from specific sources of deal flow, public or private.
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How we operate: investment process
PreScreening
Screening groups
Screening committee
Pitch to allIAG
members
Due diligence
Investment
About 400 business plansanalyzed yearly
3 pitchpresented in 5 meetingseach year
“Champion” selection (*)
(*) 5% Carried Interestreserved to the champion
in case of exit
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Our investment focus
We invest in Italy and abroad where wework with partners such as other angelgroups or funds
Target sectors
we invest in any sector where we have at least one expert member
Level of innovation
strong proprietary product or process innovation, both in new
and traditional sectors
Investment stage
early stage financing, including seed but above all start-up
financing
Investment amount
from €300,000 to €800,000
Target companiesstart-ups and young companies (up to 2 mil € in revenues) with
high growth potential
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From 22.02.08 to 01.04.15
*Esclude la presentazione di Dicembre 2007 e aprile 2015
PassPack, Biogenera, Quotient, Senseor, S5 Tech, Trumedia, Spreaker, Nomesia, Ohikia, On-Sun, WIN, Stereomood, Agroils, Sedidicodici, Margherita, Eugea,
Proxtome, Angiodroid, Musement, Cellply , Lovli, Tok.tv, GiPS Tech, Biobeats, Wineverse, Qurami,
Drexcode, Inventia + 6 invest. Individuali.
BP receivedScreening groups
Rejected by screening groups
Deal closed
2500
533 (21%)
657 (26%)
107 (4.3%)*
67 (2.7%)*
34 (1.3%)
3
Deal Funnel
Soft commitment
Presented to members
In due-diligence & negotiation
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Portfolio IAG by industry: amount invested
Medical/Diagnostics; € 2.200.000
Internet; € 1.282.500
Cleantech; € 1.420.000
ICT / IT / HiTech; € 1.997.500
Electronics; € 1.344.000
BioTech / Life science; € 2.090.000
Media / Entertainment; € 659.000
Telecom / Mobile; € 185.000
Other sectors; € 461.000
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3
Portfolio IAG by Geography
Piemonte
Lombardia
Toscana
Lazio
Emilia Romagna
Friuli V.G.
Spreaker**Eugea
BiogeneraAngiodroid
Cellply
MargheritaNomesiaS5TechOhikia
MusementLovli
Drexcode
SediciDodici
StereomoodPasspack*
Qurami
AgroilsWIN
*Biobeats
UK/Spagna On Sun SystemsIsreale/USA TrumediaFrancia SenseorUK Quotient*Italia/USA Passpack, Biobeats**IT/USA/DE Spreaker***USA/Italia ProxToMeUSA Tok.Tv, Biobeats
28 Companies
Outside Italy
5
3
6
Calabria 1GiPS Tech
ProxToMe***Wineverse
2
1
Update – April 2015
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A total of 45 investiments, 28 first rounds, 11 follow-on rounds and 6 individual investiments.
Our results
Total investments amout to more than € 13M (€24M including co-investors).
Benchmarking trips: 8 (USA x2, Israel, China, UK, Sweden, Slovenia, India,
Germany)
Winner of the 2010 EBAN award for Best Investment in a Social Enterprise
(Biogenera)
Shortlisted for the 2010 EBAN award for Business Angel Group of the Year
Winner of the 2011 EBAN award for Best Angel of the Year (Francesco Marini
Clarelli)
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IAG members’ geographical distribution
117 Members
Principato di Monaco 1
Lombardy 58
North - West 8
Emila Romagna 10
North – Central 7
North-East 20
Como 1Cremona 1Bergamo 2
Milano 50Varese 1Monza 3
Roma 12
Firenze 1Pisa 1Prato1 Siena 1
Torino 4Cuneo 1
Genova 3
Udine 7Pordenone 4Trieste 1
Belluno 1Verona 5Padova 2
Terni 1Ancona 1Perugia 1
Bologna 6Modena 2Piacenza 1Parma 1
Outside Italy
Lazio 12
Sicily 1Palermo 1
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14% Consultant
19% Finance
24% Entrepreneur
37% Manager
6% Other
IAG members’ background
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