November 30, 2023


Developing cross-border investingthrough the 4NGELS programme

We present the results of the 4NGELS survey of business angels

The survey was conducted through an online survey tool. 91 business angels participated in the survey. Investors had the option to bypass the question if they did not want to answer the question. Business angels of 4 business angel networks, partners of the 4NGELS program, participated in the survey, including: Estonian Business Angels Network, Finnish Business Angels Network, Business Angels of Slovenia, COBIN Angels.
Distribution of survey participants

Investors experience in Cross-Border Angel collaboration

The business angels who took part in the survey had varied experience in conducting cross-border investments. The majority of angels who already had experience with cross-border investing had invested in one or two startups. Only a few percent of survey participants had made cross-border investments of 10 or more startups.

Justification for the selection of a cross-border investment country

Business angels indicated various reasons for choosing the destination of a cross-border investment country, among which they cited: the location of the startup they wanted to invest in, business relationships in the country and familiarity with the local business culture.

MORE about 4NGELS programme

Crossing Borders: From Estonia to Finland and now to Slovenia Join experienced investors sharing their knowledge and lessons learned at our online webinars. Various meeting opportunities await you in Spring 2024. In addition to the online sessions, you will have the opportunity to attend the Podim Conference, as part of the StudyTrip to Slovenia. This is a unique opportunity to make personal connections, meet business angels, VCs, diversify your portfolio and learn from the best in the CEE region. We anticipate a dedicated programme for 4NGELS participants.

Join 4NGELS here

4NGELS is an international programme organized by 4 business angel networks: Estonian Business Angels Network (EstBAN), Finnish Business Angels Network (FiBAN), Business Angels of Slovenia, COBIN Angels. The programme is coordinated by CIVITTA. We bring together investors from Estonia, Finland, Slovenia and Poland to strengthen the level of cross-border investment between our business angel networks. 4NGELS is funded by the European Union.