In any organisation, it’s useful and eye-opening to regularly step back and go back to the basics. Why do we do what we do, what is our reason to exist? This has been particularly useful at FiBAN, since we operate in a world that’s changing constantly. Obviously, many basic things in global economy and politics have become unhinged lately, but the most tangible change for us has been the amazing evolution of the startup and growth company ecosystem, especially in Finland. It’s always amazing to think how many things in the startup scene we now take for granted, which were rare when FiBAN was founded in 2011.
The early-stage funding ecosystem is itself also undergoing many changes. New players, both private and public are entering this field. New small and midsize seed funds have been launched and more are planned. Crowdfunding has grown fast and has become an important funding option to startups and growth companies. Even major banks have now entered this market with loans designed for growth companies and with crowdfunding platforms.
"By representing the entire angel community, FiBAN speaks for all angels, also those who are not comfortable drawing attention to themselves."
When we wrote the first FiBAN strategy in the spring of 2014, we decided that lobbying would be one of the three main areas of activity at FiBAN, but would come third in priority after active matchmaking and education. FiBAN was founded primarily to run an efficient angel network and deal flow, and we wanted to make sure that our strategy reflected keeping business at the core. Additionally, we felt that an active member base and a comprehensive deal flow were a must for us to represent the Finnish angel community.
Now the changes in our ecosystem, and the fact that FiBAN has itself matured, have created a perfect opportunity for us to make our voice heard. Now we are being regularly approached by ministries, public organisations, and organisations representing other areas of business. We have become an important expert in legislation processes, and our opinion has weight also on EU level.
Most private investors in Finland have a natural instinct not to make much noise about their activities. We’ve experienced this also at FiBAN, as many major investors do not feel comfortable about sharing information on their portfolios and cases with us. Some even don’t feel that joining an angel group is a good idea for them. We at FiBAN understand and respect this, we are after all a group of private investors, not public. By representing the entire angel community, FiBAN speaks for all angels, also those who are not comfortable drawing attention to themselves.
FiBAN is also in a good position to speak for the interests of another important group, which has so far had no representation: startups. Of course, we cannot claim to fully represent the startup company community, but the interests of us and startups complement each other very nicely. What is good for startups, is good for angel investors too.
Now FiBAN is taking steps to seize the opportunity of becoming a central part of the startup and growth company ecosystem in Finland. With our main activity, active matchmaking as the solid foundation, and education ensuring quality, we now also have a strong message. We are well on our way in reaching our vision of Startup Nation Finland.
FiBAN's news about startup investing.