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Carlo Asquini presents Angels for Growth

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Angels for Growth, lecture of 30th of November 2015 at Ca' Foscari in cooperation with Venice Design Week and department of Innovation Management

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Carlo Asquini presents Angels for Growth

  1. 1. Università Ca’ Foscari November, 30th 2015 Business Angels & Angel Investing
  2. 2. 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.
  3. 3. 30/11/2015 www.italianangels.net 3 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!
  4. 4. 30/11/2015 www.italianangels.net 4 What are Angels looking for? • An outstanding Management team • An exciting idea with a sound business model • The possibility to help filling critical gaps • High returns • Exit • Entrepreneurs and co-investors they do not trust • Entrepreneurs that do not finance their own business and/or did not get financing from family and friends • Absence of at least one full time founder • Managementthat asks for too much all together and/or is not specific about 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
  5. 5. 30/11/2015 www.italianangels.net 5 10 tips to attract the interest of BusinessAngels 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 acceptthe fact that if you want to raise capital this still requires an expenditure 5. You should contactBusiness Angelas consistentas 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
  6. 6. 30/11/2015 www.italianangels.net 7 Who we are Italian Angels for Growth (IAG), the largest Angel Group in Italy, was founded in 2007 as a non-profit association, by nine Founding Members. Nowadays IAG consists of about 120 members.
  7. 7. 30/11/2015 www.italianangels.net 8 IAG members Our organization is promoted and managed exclusively by individual investors and we operate in order to offer our members the best opportunities to invest in. The Organization is, therefore, totally apolitical and independent from specific sources of deal flow, public or private.
  8. 8. 30/11/2015 www.italianangels.net 9 How we operate: investment process Pre Screening Screening groups Screening committee Pitch to all IAG members Due diligence Investment About 400 business plans analyzed yearly 3 pitch presented in 5 meetings each year “Champion” selection (*) (*) 5% Carried Interest reserved to the champion in case of exit
  9. 9. 30/11/2015 www.italianangels.net 10 Our investment focus We invest in Italy and abroad where we work with partners such as other angel groups 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 companies start-ups and young companies (up to 2 mil € in revenues) with high growth potential
  10. 10. 30/11/2015 www.italianangels.net 11 From 22.02.08to 01.04.15 *Esclude la presentazione di Dicembre 2007e 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 received Screening groups Rejectedby screening groups Deal closed 2500 533 (21%) 657 (26%) 107 (4.3%)* 67 (2.7%)* 34 (1.3%) 3 Deal Funnel Soft commitment Presentedto members In due-diligence & negotiation
  11. 11. 30/11/2015 www.italianangels.net 12 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
  12. 12. 30/11/2015 www.italianangels.net 13 3 Portfolio IAG by Geography Piemonte Lombardia Toscana Lazio Emilia Romagna Friuli V.G. Spreaker** Eugea Biogenera Angiodroid Cellply Margherita Nomesia S5Tech Ohikia Musement Lovli Drexcode SediciDodici Stereomood Passpack* Qurami Agroils WIN *Biobeats UK/Spagna On Sun Systems Isreale/USA Trumedia Francia Senseor UK Quotient *Italia/USA Passpack, Biobeats **IT/USA/DE Spreaker ***USA/Italia ProxToMe USA Tok.Tv, Biobeats 28 Companies Outside Italy 5 3 6 Calabria 1 GiPS Tech ProxToMe*** Wineverse 2 1 Update – April 2015
  13. 13. 30/11/2015 www.italianangels.net 14 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)
  14. 14. 30/11/2015 www.italianangels.net 15 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 1 Cremona 1 Bergamo 2 Milano 50 Varese 1 Monza 3 Roma 12 Firenze 1 Pisa 1 Prato1 Siena 1 Torino 4 Cuneo 1 Genova 3 Udine 7 Pordenone 4 Trieste 1 Belluno 1 Verona 5 Padova 2 Terni 1 Ancona 1 Perugia 1 Bologna 6 Modena 2 Piacenza 1 Parma 1 Outside Italy Lazio 12 Sicily 1 Palermo 1
  15. 15. 30/11/2015 www.italianangels.net 16 14% Consultant 19% Finance 24% Entrepreneur 37% Manager 6% Other IAG members’background
  16. 16. 30/11/2015 www.italianangels.net 17 Portfolio
  17. 17. www.italianangels.net

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