FiBAN Member Survey

Findings from the member survey Autumn 2023b

Table of Contents

Summary of the data

1. Who are the angels? Member Profiles Overview
2. Dealflow
3. Lead Investing & Syndicates
4. Training & Academy
5. Views on Future Services and Improvements

Summary

FiBAN Member Survey 2023 took place 4.9.2023 - 24.9.2023, and was sent to all FiBAN members. In total, 254 members answered the survey (ca. 36% of all members).

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86% 27%

Members actively looking for new investments Have acted a lead investor

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54% 28%

Have invested over 200.000€ in startups Have invested into over 10 startups

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45% 93%

Plan to invest over 500.000€ in startups Find investment opportunities from their own network

Summary

7% 38%

Target over 30X returns on investment Have made an exit as an entrepreneur

prior becoming angel investor

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65% 40%

Target portfolio size of max. 10 startups Ready to invest in companies that come

from EU countries outside Nordics and Baltics

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25% 47%

Invest tickets of over 50.000€ Say target company must have customers

in order to consider investing

Summary

2026 8%

Median year when members expect Indicated interest in female-oriented event

their portfolio to be complete

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20% 36%

Target portfolio size of over 15 startups Indicated interest in impact investing

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30% 23%

Indicated interest in deep tech event Interested in idea stage startups

Summary Statistics

1. Who are the angels?

An overview of the FiBAN member/investor profiles based on the 2023 survey.

I have been a member of FiBAN…

Background

Age groups

15%

of members are under 45 years old

Experience level

(light=novice, dark=professional)

Member Experience Categories

Preferred industries

Target company stage

Typical investment (ticket size) into a single startup

Situation at the moment

Member Portfolio Insights

65% of members target portfolio size of max. 10 startups

2026, median year when members expect their portfolio to be complete (n=173)

2030, year when 90% of members expect their portfolio to be complete.

60% of members expect to at least double their investments to startups

29% of members have already invested at least 500.000 euros into startups

45% plan to invest at least 500.000 euros into startups

2. How do FiBAN angels invest?

Data of investment behaviour and interests.

How many investments angels have made

How much angels say they have invested so far

Target portfolio size

Target amount invested when portfolio is complete

Source: FiBAN Member 2023 Survey

Notes: 60% of members expect to at least double their investments into startups by the time they complete their portfolio. 90% of members expect to complete their portfolio by 2030.

Forecast is based on the estimated increase of each investor’s investments based on their answers in the survey.

Target returns on investment

Investment activity from FiBAN dealflow

Preferred countries

Other dealflow sources

Special expertise angels can offer to startups (1/2)

Strategic and Business Expertise:

• "Growth strategies, international networks, turnaround advice also in financially difficult times."
• "Long-time experience as an entrepreneur, understanding of founder problematics and point of view."
• "Overall international experience covering vision, strategies, and operative excellence."

Financial and Investment Skills:

• "Finance-related."
• "Thorough DD (Due Diligence) skills in specific deals, network."
• "Strong financial and transactional background in investment banking, know a lot of stakeholders, vast international network, negotiation."

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Technical and Industry Expertise:

• "Tech understanding, financial modeling, go-to-market strategy."
• "Knowledge in engineering and production, international sales, legal, public funding, and negotiation tactics."
• "In-depth knowledge of certain industries, like robotics."

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Special expertise angels can offer to startups (2/2)

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Coaching and Mentorship:

• "Work wellbeing and coaching, identifying strengths, finding meaning, communication skills, motivation and goal setting, work-life balance, emotional intelligence."
• "Coaching the entrepreneur."
• "Sparring founders."

Networking and Connections:

• "Great contacts to academic subject experts in regional universities."
• "VC connections and support for the entrepreneurs."
• "Impact modeling."

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Governance and Board Experience:

• "Governance, financials, negotiations."
• "Board profession, doing sales and networking."
• "Legal, financial, and business expertise."

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Training topics that interest angels

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Interest in theme-specific events