We’ve got some great news to share with the early-stage tech startups with global potential! Today we proudly announce the launch of MVP Angels, a micro-financing business angel network that invests an average amount of 50.000 EUR in some of the best alumni of MVP Academy, our accelerator. Ready to take your product to the next level? Searching for mentorship and support in your scaling efforts? Then read on!
What is MVP Angels?
MVP Angels is a business angels network that syndicalises a micro-investment fund for every edition of the MVP Academy accelerator in order to finance some of the best teams in every batch. This is a continuation of the annual investment readiness MVP Academy program: we provide support and an average investment of 50.000 EUR in exchange for equity (a minor stake in the company).
Bogdan Iordache (Board Manager & Co-Founder, How to Web & TechHub Bucharest), Daniel Dragomir (CEO How to Web & TechHub Bucharest) and George Diță (Startup Programs Manager, How to Web) are the principal advisors of MVP Angels.
We are lucky to have the support of top-notch professionals and investors, acting as advisors:
- Ana Maria Andronic (lawyer, DLA Piper)
- Carmen Sebe (ex-CEO, COO Avangate, now angel investor)
- Mihai Sfințescu (private equity / venture capital investor)
- Cosmin Ochișor (Business Development Manager, hub:raum)
- Adrian Gheară (angel investor).
Meet the investors
Wondering where the money comes from? The business angels that are part of the MVP Angels network are successful entrepreneurs, experienced investors, or remarkable professionals in the IT industry, such as:
- Philipp Kandal (General Manager EU, Telenav);
- Mălin Iulian Ștefănescu (angel investor);
- Bogdan Mănoiu (Founder & CEO, iRewind);
- Lucian Todea (Founder, Soft32 & angel investor);
- Bogdan Rîpă (Product Director, Vector Watch);
- Dan Călugăreanu (Founder, Alliance Computers & angel investor);
- Dragoș Nicolaescu (CEO, Visionary Business Consultants & angel investor).
What’s in it for you?
If you’re considering an investment from MVP Angels, you might be wondering what’s in it for you, besides the money (an average of 50k). Each of the teams that receives an investment gets:
- Continuous support over the next 6 to 12 months, when the MVP Angels principal advisors join the board of the company;
- Access to an extensive network of 400+ investors, accelerators, venture capital funds and experienced mentors;
- Introductions to relevant people in this network that can help you grow your company faster (including the business angels in the network, top-level accelerators and early stage VC funds);
- Access to entry points in different tech ecosystems for scaling the business and/or raising future rounds.
What are we looking for
Now that you know pretty much everything you need to know about MVP Angels, you might be interested in what we are actually looking for. We want to invest in companies whom we already know very well and that have a clear development plan for the next 6 to 12 months. Our investment strategy is very different to the usual “spray & pray”: we offer “smart money” and we invest lots of time and effort to closely work with our teams and help them reach their objectives.
That’s why we’re also kind of picky when choosing our investees. If you’d like to be one of them, you have to meet the criteria below:
- You have a senior team, well-balanced and with relevant experience in your sector (previous entrepreneurial experience is highly valued);
- You address a big market opportunity (100+ million EUR);
- You have a strong product and a highly scalable business;
- Your product is at least in beta phase and you’ve got primary client validation for it;
- You are an alumni of the MVP Academy accelerator (this helps us validate the fact that we are a match and we’ll work well together over the next months / year).
We expect all our startups to reach break even, have the first paying customers the latest 3 months after receiving the investment, and be ready for a follow-on round in less than 1 year, with a valuation bigger than 2 million EUR. In order to do so, we focus on helping them find product/market fit and identify potential distribution channels, while expanding their teams with key people (if needed).
Meet InnerTrends, our first investment
And InnerTrends, our first investment, had definitely met these expectations. Founded by Claudiu Murariu (CEO), Iuliana Murariu (CPO) and Alex Stoia (CTO), InnerTrends has been part of MVP Academy Class of 2015 (if interested, you can read their startup profile here). Their product helps web and mobile developers out there to optimise their user acquisition process by better understanding user behaviour.
When they entered MVP Academy, they had a working technology and a good understanding of the problem: web and mobile app developers struggle to take decisions based on data. They nailed down the product later on, after conducting intensive customer interviews to get an in-depth understanding of what is the best way to solve this problem, and are now the first team to raise money from MVP Angels.
“We brought 2 more people in our team, opened up our office in Cluj, kept onboarding clients and launched the public beta version of our product. The investment received from MVP Angels helped us way beyond money: we get all the support needed to scale globally, we have access to valuable connections in the industry, experienced mentors, as well as unprecedented support from the advisors”, said Claudiu Murariu, Founder & CEO, InnerTrends.
Our next investment could be you!
MVP Angels is now looking for their next investment, and the next one could be you! The investees will be selected from the 2016 batch of MVP Academy, our accelerator program for early-stage tech startups with global potential. MVP Academy 2016 will take place at TechHub Bucharest in between April 11th and May 31st, and applications will soon be opened on the program website http://mvpacademy.co.
Interested to apply? Subscribe here to be the first one to know the latest updates!