Eight Nordic and Baltic Investor Networks aim for a single market for investing in startups
During a signing ceremony at Slush InvestorDay, organized in cooperation with the Finnish Business Angels Network, eight investor networks from the Nordic and Baltic countries together with KPMG in Finland agreed to form NordicBAN.
NordicBAN is a network of startup investor networks in the Nordics and Baltics. The network allows investors from eight nations in the region to match with other startup investors and syndicate investments in growth companies from Finland, Sweden, Norway, Iceland, Denmark, Estonia, Latvia, or Lithuania. Investor networks involved have more than 2.500 investors and yearly screen more than 3.000 possible growth companies. The NordicBAN invetors are members of a local angel network and startups should be incorporated in the Nordics or the Baltics.
The founding investor networks are:
From Denmark: Business Angels Copenhagen (BAC) and Capital2Grow
From Estonia: The Estonian Business Angels Network (EstBAN)
From Finland: Finnish Business Angels Network (FiBAN)
From Latvia: Latvian Business Angel Network (LatBAN)
From Norway: Connect Norway’s BAN Norway and Founders Fund
From Sweden: Stockholms Affärsänglar (Stoaf)
The process of joining internationally minded early stage investors is the result of a process co-funded by Nordic Innovation, a subsidiary of the Nordic Council of Ministers. “This will open up a new chapter in early stage investments in the region”, says the newly elected chairman of the board Jan D. Oker-Blom (FiBAN), adding that “the combined Nordic and Baltic area is perhaps the world’s most competitive and interesting startup-market”. Per Arnold Dyrkoren, board member and project manager representing Connect Norway says, “the cooperation will allow startups from all over the region opportunities finding competent investors that may assist bringing the regional startup to bigger markets”.
The cooperation is supported by Gust, the world’s largest global platform connecting high-growth entrepreneurs and active early-stage investors. Gust will be the official early stage investment platform for investor relations and deal-flow management of Nordic startups. “We are excited to partner with NordicBAN and bring the full suite of Nordic nations into our growing list of international partner business angel networks,” said David S. Rose, one of the super angels from New York and CEO of Gust. “We look forward to working with NordicBAN to continue their effort in connecting and engaging cross-border investment opportunities that will lead to greater startup innovation, growth, and success in the region and beyond.”
The first-movers needed in NordicBAN are experienced internationally-minded business angels in the Nordics that wish to learn from each other, expand their businesses to other Nordic countries and promote cross-border investments.
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