The ESADE Alumni Business Angels Network (ESADE BAN) invested a total of €4,902,016 in 25 projects during the 2017-2018 academic year. This total is an all-time best for ESADE BAN, surpassing the network’s previous records of €4,676,133 in 2016-2017 and €4,471,645 in 2015-2016). Private investment played a major role in this year’s figure, accounting for a total of €4,277,016.
The projects that received investments from ESADE BAN this year include Agroptima (the startup that received the largest amount of funding in the history of ESADE BAN); the photo marketplace Agora Images; The Colvin Co, a flower-delivery e-commerce startup founded by three alumni of the ESADE Bachelor of Business Administration (BBA); and Bioprocel. “With an investment of €600,000, Bioprocel is a clear example of a startup funded by family offices. Both of the investors who funded this industrial circular-economy project are major family offices that offer potential synergies,” commented Fernando Zallo, Director of ESADE BAN.
During the 2017-2018 academic year, ESADE BAN shifted its focus to family offices – a type of investor oriented towards specific investment opportunities for managers of family assets. Over the past year, ESADE BAN has organised various forums for investors of this type. Also new this year was the addition of a personalised service for companies and corporate entities with open innovation programmes that operate corporate accelerators or invest in projects that are strategic for their business.
ESADE BAN is a private investment network that acts as a meeting point for investors seeking investment opportunities and entrepreneurs with innovative projects in need of startup funding. Founded in 2009, ESADE BAN is a network of 265 private investors, most of which are business angels, family offices or representatives of venture capital firms. Over the past seven years, these investors have invested more than €28 million in 172 companies.
More investment per investor and per project
Another highlight of the past year was a substantial increase in the average amount invested by each investor. This year’s per-investor average was €58,743 (compared with €44,084 in 2016-2017 and €33,223 in 2015-2016). The average amount received by each project also increased this past year to €203,667 (up from €152,719 in 2016-2017 and €121,436 in 2015-2016. In total, the investors provided funding to 21 of the more than 500 projects considered by the business angels network.
“This increase in per-project investment means that ESADE BAN is providing more value to the entrepreneurs. This is certainly the case for operations that have completed their investment rounds having raised capital entirely through our investors,” commented Fernando Zallo. “We facilitate the negotiations and speed up the process of seeking funding, allowing entrepreneurs to focus on their business. This year’s increase in the average amount invested per investor can be traced back to our focus on family offices, which invest in longer-term, higher-value projects.”
Business model and type of client
The largest sums were invested in startups that provide services (either subscription or pay-as-you-go), followed by marketplace platforms (websites that connect supply with demand) and product-oriented startups.
By client type, the biggest recipients of investment through ESADE BAN were business-to-business (B2B) companies (62%) followed by business-to-consumer (B2C) companies (38%).
Other notable investment recipients include Boxmotions (smart storage solutions), Wivi (medical devices and equipment), the watchmaker MAM, the gourmet brand Paul & Pippa, and a website for dieticians and nutritionists called Nootric.
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