About the Program
Throughout our introductory course on angel investing, participants will explore an overview of the EU venture landscape, learn about angel investment strategies, get practice on startup evaluation, and join the network of with startups, investors and experts in the EU. Guest speaker list includes super angels, angels, BAN leads and VCs from EU, UK and USA.
- Get practical experience in startup evaluation
- Build your personal angel investment strategy and exit scenarios
- Learn how to structure your investments from legal perspective
- Join an extensive network of investors and startups right away
- Enjoy special investment conditions while investing via Baltic Sandbox syndicates
Participants will be able to:
- Evaluate startups using several methods
- Build personal investment strategies and exit scenarios
- Apply a decision-making framework to investments
- Negotiate financial terms with startups depending on the stage of investing
- Understand the legal side of investing, with a syndicate, in co-investing and in leading the deal
- Avoid most common mistakes in the first steps of angel investing
- Build own early network of founders and investors
About this week:
Introductory week aims to outline a systemic view of venture investing, angel's role in it, opportunities for angel investing in EU & Baltics, and some startup evaluation frameworks. This week will help narrow down practical questions over personal strategies in angel investing and manage expectations on venture capital.
Day 1. Introduction to angel investments
An eagle eye overview of Pan-European venture ecosystem, key players and how to work with them, role and profile of angels, significant gaps and opportunities for angel investing, changes happening over covid time, (eventually) required competence / experience to be a successful angel.
Day 2. Startup evaluation framework
We will go through several approaches to startup assessment and evaluation, to be applied over the next 4 weeks hands-on. What is a startup and what is not? How to read a deck? Which evaluation frameworks could apply for different stages of investing? What metrics mean and how to read them? Lessons learned from typical startup and investor mistakes.
About this week:
This week's dive is going to be all about startup assessment and evaluation: good and bad decks, early and later stages, different industries, different metrics, a variety of deal structures. We will also have a field trip to a startup fair to apply what we have already discussed in practice.
Day 1. Advanced startup valuations
How to assess the deal, and how to assess if the deal is right for you? Assessment and valuation is a skillset, that needs to be trained in practice, the more the better.
Day 2. Live pitches at a startup fair
10:30-16:00 A full day field trip to listen to pitches. We will put to practice everything that we have learned and narrow down practical questions over your next steps as an angel.
About this week:
This week aims to provide guidance on how to create a repeatable and coherent investment decision-making framework that works for you over time, identify what is working and not in relations with founders, and manage expectations over a learning curve of an angel investor. Matching your risk profile, liquidity expectations, personal preferences, experience strengths, access to dealflow and network to specific investment strategies where you can hit founder-product-market-investor fit easier.
Day 1. Let's use the evaluation frameworks
An open feedback and Q&A session to focus on your questions after a live pitch event. Explaining your own assessments, sharing peer-to-peer insights and questions, listening to experienced angels and VCs evaluating companies will provide a bigger view on frameworks, process, and skillset. It will also help you refine your angel profile and strategy.
Day 2. Building your angel profile and startup relations
Understanding the role of investor, areas of responsibilities, typical investor and founder mistakes in decision-making (who is in charge of what). Understanding investment risks, expected time horizons, and how your role and impact may change or evolve over the time. What's your reasons to invest in startups? What's your personal skillset and aligned investment strategy? How can you find startups? How startups are going to find you? What's your appetite for risks and available liquidity to invest? What's your time horizon for exit? What's your network and where can you find great ideas to invest in? Who you partner with for investments and exits?
About this week:
This week is going to be about due diligence - and of two distinct types of investment strategies for angels: follow and lead. Previous workshops have given you a glimpse over what the work of an angel investor typically consists of, and what of that workload you would prefer to do yourself, join forces or outsource. Through the next two workshops we will dive deep into step-by-step work process to help you fine-tune your preferences, interests, and investment approach.
Day 1. Due Diligence for startups and investors
We are going to dive into the intricacies of due diligence for startups - and for other invesors. What's the red flags to check in a team and on a cap table? What's the potential implications of previous investments conditions? What's the reasonable check-list to go through in pre-seed, seed or later stages - and what is the difference?
Day 2. How to lead and syndicate deals
Key syndicate features, how to find and join them, responsibilities of a backing angel, expected workload and decision-making. One of the options of an easier entry point into angel investing while learning and building up your own network. Responsibilities and expected workload of a lead angel (in a syndicate or simply bringing other investors together), pipeline and paperwork, co-investment network, portfolio management.
About this week:
Getting to a program close, we will briefly cover all topics of previous weeks, concentrating on your personal learnings, findings, insights, practical questions, and next steps. Practice, practice, practice: analysing markets, networking with founders and other investors, going to pitches or receiving them, making your own assessments even if on paper, – and eventually investing your money over what you consider a reasonable assessment, even if (or especially) it will turn out to be a mistake over time.
Day 1. Round table with angels and VCs (5 EU/USA-based VCsb)
How to train yourself to become and be a better investment decision-maker? What were your biggest learnings over the time? What do you consider your investment failures / misses? How long did it take to define, outline and polish your repeatable investment decision-making process?
Day 2. Wrap-up of the program and reflection session
Your personal and group learnings, insights, surprises, perspectives. Feedback for the program.