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Saturday, 27.04.2024, 01:12
EstBAN members invest EUR 11.3 mln in startups in 2017
Year over year, the amount of money invested grew 28%.
The president of EstBAN, Rein
Lemberpuu, said that the amount invested by EstBAN members has kept growing
year after year and last year another all time high was reached.
The 11.3 million euros invested by EstBAN members went to 108 companies in
225 transactions. In 2016, altogether 8.8 million euros was invested in 84
companies in 145 transactions. The growth can be partially attributed to
increased cross-border investment, Lemberpuu said.
Where in the three previous years EstBAN members placed over 70% of their
total investments in Estonian startups, in 2017 the portion going to Estonian
startups was 59%, with 26% going to startups in other EU member states and 15%
to startups outside Europe. Other than Estonia, the more popular investment
destinations were Finland, the United States, the U.K., Germany, Denmark, Croatia
and Norway.
"The trend of internationalization is going on strong because the aim
of EstBAN is is to help business angels find the best startups in Estonia and
abroad. In February we launched a Nordic Angel Program with the business angel
networks of Norway, Finland, Denmark and the Nordic countries," Lemberpuu
said.
EstBAN was established in late 2012 as an umbrella organization for
business angels and business angel groups seeking investment opportunities in
Estonia and its neighboring regions with an aim to enhance the quantity and
quality of local seed stage investments. EstBAN has 125 invests as members at
present.