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“Angel investor”, as it is most commonly known and used, is the name given to individuals or organizations that provide capital to startups in exchange for a certain share of the startup or a loan that can be converted into shares.
Convertible debt indicates that this short-term loan will be repaid in the form of equity in the company.
Angel investors, one of the indispensable parts of the entrepreneurship ecosystem, enable the startup to start commercial activities by ensuring that various equipment, software, human resources, marketing intermediaries and many other expenses that the startup needs to be used in its commercial activities are covered at the first stage.
Of course, angel investors are not the only address for this initial capital. There are other methods that a startup can use to raise initial capital, such as Venture Capital, Venture capital portfolios, loans, crowdfunding, grants, and even raising money from close circle.
On average, an angel investor purchases between 8% and 20% of the venture he invests in. By doing this, they aim to make profits in the long run. However, the only reason for angel investors is not this long-term profit directly linked to venture profits.
Some may actually be angels. He mentors startups, brings them together with his social network, transfers his knowledge and experience, and even learns while doing this, and wants to be useful in the development of the country and the sector.
Becoming an Angel Investor:
In a world where illegal money traffic has increased so much (!), angel investing is subject to certain rules in order to prevent any organization from becoming a criminal by funding an initiative with its illegal money. First of all, the angel investor candidate must apply to the Undersecretariat of Treasury and obtain an angel investor license. It is useful to know that the Undersecretariat of Treasury distinguishes angel investors as material or spiritual, or rather as “experience investors” due to their experience, and that certain criteria must be met in order to be both.
If your gross income for the last 2 years is 200,000 Turkish Liras or more, or the total value of your personal wealth is over one million Turkish Liras, you can become an angel investor with the title of “High Income Investor”.
Of course, these include being an angel investor accredited by the Ministry of Treasury and Finance and tax deductions provided to angel investors, etc. necessary to benefit from rights. Otherwise, your family or friends can also become your angel investors by providing funding for you.
In the Experience Investor group, it is a little more difficult to obtain an angel investor license. In this group, it is not a title given based on criteria such as I am very experienced, I have founded a startup before, I have failed, or I have studied a lot. It is required to have at least 2 years of work experience as a manager or equivalent or above in a financial institution, or to have worked at the general manager level in a company with an annual turnover of at least 25 million Turkish liras for at least 2 years in the last 5 years. In addition, having been a member of one of the angel investor networks in Turkey for at least 1 year, having at least 2 years of experience in technology development or incubation centers in Turkey, being a partner with an angel investor identity in at least 3 non-public companies, being a partner in each of at least 3 startups during the establishment period. There are conditions such as depositing at least 20000 TL capital.
In addition to all these legal requirements, of course, there are some skills that must be possessed to become an angel investor. Sharp vision, analytical thinking, mathematical understanding, logic, foresight, research ability, adaptability, communication skills and much more.
Finding Angel Investors:
Although the easiest way to find an angel investor is to contact angel investor networks, incubation centers are also very useful institutions to choose because they both bring you together with investors and prepare you for this meeting in various aspects.
In addition, networks established by angel investors (For example; Aslanoba Capital, BIC Angels Investment, Teb Private Angel Investment Platform, Inventram, E-Tohum, Galata Business Angels and LabX), interviews, congresses, summits and seminars that enable entrepreneurs and angel investors to meet are definitely These are events that need to be followed.
Contacting chambers of commerce is also an effective way to find a suitable angel investor for you.
Following the elders is always an advantageous method. We can recommend you to take a look at the steps of companies that have done similar work to you before and, if possible, have grown, even if you do not step on them.
Another method of finding an angel investor whose potential is not widely known is to consult the professionals you work with, especially finance professionals. If you think you don’t know anyone, you can even open your bank’s app and look for your personal banking service representative. Entrepreneurship is a matter of keeping your eyes open.
You will also find individual angel investors in the list below. You can also try to reach these people directly via Linkedin or e-mail.
Advantage of Angel Investment:
In addition to providing the necessary finance to bring ideas to life, angel investors provide entrepreneurs with knowledge, experience and network. In addition, the angel investor who is interested in you also knows the potential customers who may be interested in you and will also provide you with customers. For this reason, it is much more beneficial for startups to continue their path with an angel investor from their field rather than the logic of “no matter who it is”. Moreover, even if the venture does not come to fruition, you do not have to repay the financing provided to you by the angel investor. You do not have to use riskier money sources such as bank loans
Disadvantage of Angel Investment:
The angel investor will be involved in the decision-making mechanism to protect his investment or simply because he thinks it is the right thing for the startup he mentors. This may slow down the initiative. If you have an angel investor from a sector unrelated to your startup, you will need to be much more careful in the decision-making process. If the venture is successful, he will of course get his share of your profits.
Angel Investor Platforms:
In addition to the investor networks that angel investors are involved in to find startups, social media, even social (Angel List, Quora, Microventures, Linkedin) or internet channels that can be used in this regard will help you find investors.
Meeting with the investor:
All investors, angel or not, want to invest their money in areas where the risk is as low as possible and the return is as high as possible.
There are issues that need to be taken into consideration to show that this venture is the right investment.
A good investor presentation is one of these. Although there are various theories and methods on this subject, in general, topics such as Team, Solved Problem, Financial Plan, scalability, Business model, market size, competitive strategy, exit plan are topics that must be addressed.
When you reach the point of receiving investment, you now need to complete your incorporation process. However, to present to investors:
1) Financial Documents:
The investor wants to know how long it will take to get back the money he invested in the venture and the risks involved. Information about your highest and lowest monthly earnings expectations, money flow, current capital, previous investments, if any, budget distribution, payment plans, financial forecasts, the amount of investment you need and where you will use this investment are important.)
2) Business Plan:
It is the most important document that makes you different and shows you how to gain a place in the ecosystem. If the business is not planned, the business is not ready and a business that is not planned properly cannot survive for long. While business plan canvas examples can be easily found on the internet, this plan basically includes introductory information about the venture, income and expense model, critical resources, critical partners, marketing strategies, risks, etc. should be.
3) Pitch-Deck
It is a presentation in which you briefly and clearly explain what you do, why you do it, and your business plan. This information should be basic and critical to know, and should be presented in just 60 seconds. It is important that you present this presentation in advance before meeting with the investor, so that the investor gets to know you and is ready.
4) Resumes of Team Members
To bring an initiative to life, two things are important: The Enterprise itself and the Entrepreneur. The investor wants to see whether you can realize the initiative in order not to risk his investment. For this, the team is important.
5) Term Sheet
It is the preliminary contract text, usually 8-10 pages long, containing the important articles and conditions of the investment contract. After the investment negotiations, full negotiations will be held and a more detailed contract will be signed. However, before reaching this stage, it is the document that is necessary for the parties to understand that they have the same thoughts, opinions and common expectations in order to know that an agreement will be reached in the investment process. It is a guide that also shows the next steps.
Differences between Angel Investors and Venture Capital:
Angel investors are people who try to get high returns by investing money in your startup, and although they may seem more like devil investors when they say it that way, they actually share their knowledge and experience with you so that you can grow, introduce you to their circle, and work with you to grow together. They often spend their personal funds on your startup’s These are the people who share it with you in its early stages.
Venture capitals, on the other hand, are professional organizations that invest in startups and small businesses that have a high growth rate and can show themselves as a profitable investment with financial data, and provide this through funds containing the capital of more than one investor. Since decisions are made with the capital of more than one person, the decision-making process is not as flexible and fast as angel investors. They scrutinize and weave closely. Although they provide support at every stage of the venture and provide capital increases as the venture grows, they generally invest in periods when the venture is making profits, in series A investment rounds or later, and with larger capital than angel investors. However, venture capitals also share their vast strategic resources, business connections and, of course, guidance information for the rapid growth of the venture they invest in. Venture capitals focus on very high returns and often aim for an exit through an initial public offering or a large acquisition. To do this, they often create schedules and dates well in advance, and they are not as flexible as angel investors in this regard.
While Venture Capitals mostly aim for rapid growth with million-dollar level investments, angel investors provide financing of MVP and market research with smaller investments, mostly in the seed period.
In addition, venture capitals want to have more intervention and control by taking part in the board of directors of the venture.
Super Angel
They are investors who have invested large amounts of money in many successful companies and earned high income.
Hansi Hansmann, Joshua Kushner, and in our country Hasan Aslanoba and Hande Enes can be counted as examples of super angels.
Partnership Types of Angel Investor:
Angel investors buy shares in the startup they invest in and aim to sell these shares when the time comes, in accordance with their exit strategies. Here are the types of shares that angel investors can buy: common stock, deferred common stock or preferred stock purchased for investment purposes.
Ordinary shares provide equal rights to shareholders. It is the most preferred stock in Turkey. It gives the right to vote on partnerships and decisions from the date of establishment of the company. According to Turkish commercial law, all shares are ordinary shares unless otherwise stated in the articles of association.
Deferred Shares are a type of shares in which the rights of ordinary shareholders are postponed for a period of time until the occurrence of a predetermined event such as the sale of the company, and these rights are reserved and suspended.
Preferred Stocks are a type of shares that guarantee the first place in the company in case of liquidation. The dividend is fixed and, together with the partnership, also provides voting rights. It can be converted, in whole or in part, into common shares at a predetermined date or event. This may entitle the shares to be converted into cash early at a premium price higher than their nominal value.
Convertible Debts are a debt instrument that allows savers to exchange bonds for shares, under certain conditions. It aims to reduce the risk of the angel investor and if the venture does not go bankrupt, it is converted into shares after a while.
Angel Investment Network and Organizations
(We May Recommend You to Check Whether It Still Has Accreditation When Making Your Choice).
212 ventures, which support B2B initiatives, attract attention with a portfolio value of $2+ Billion. 212 VCs working with more than 200 countries have a capital of 118 million Euros. Some of the startups it supports are: Agrotics, Bolt Insight, Martı and insider are striking examples.
ANSİAD Melek Yatırım Ağı (Ansiad Angel Investment)
ANSİAD Angel Investment Network, established by ANSİAD (Antalya Industrialists’ and Businessmen’s Association), is an organization that tries to increase the number of licensed angel investors in Antalya and the number of initiatives that will contribute to the development of the region.
Antalya Teknokent Manager and Operator Inc. T.R. Within the scope of the BKS (Individual Participation Capital) legislation published by the Ministry of Treasury and Finance, the angel investment network started the application process in 2022 and is waiting for the accreditation processes to be completed.
Antalya Teknokent, which has pre-incubation and incubation facilities to contribute to the development of innovative technologies, especially in the Software, Informatics, Defense Industry, Agriculture and Food sectors, aims to provide a suitable investment environment for technology initiatives from the region and nationally with the establishment of the BKY Network. It provides services such as holding startup and investor meetings, startup analysis for investors, investor presentation support for startups, and support in licensing processes for investors.
Arya Woment Invetment Platform(Kadın Yatırım Platformu)
Arya Women’s Investment Platform; It aims to create success stories with female entrepreneurs and investors, as well as to show that women’s participation in the economy is an opportunity, to ensure that more women own capital, starting from Turkey, and to ensure that women are in decision-making and more powerful positions. With 1200 entrepreneurs, 22 portfolio companies, and more than $5M investment, it is already impressive.
Investing in web and mobile-based technologies such as SaaS, marketplaces, fintech, adtech – brandtech – big data, edutech, BICangels invests in the range of 1-3 Million TL in startups in the seed and early growth stages. Influanza, Tarfin, Evdeki Bakıcım, İyisahne, Bionluk, Scorp, CEOtudent are some of the startups he invested in.
Ethum, which has a very important place in Turkey’s entrepreneurship ecosystem, is one of the founding components of the ecosystem. As its name suggests, it makes a significant contribution to seed investments and startups when they are just at the beginning of their journey.
EGİAD Angel Investment Network
EGİAD Angels Investment Network is an entrepreneur support system established by the Aegean Young Businessmen Association. Business and enterprise ideas that meet the specified criteria are presented to potential investors within the system, provided that they are converted into business plans. It accepts projects in all areas with investment potential, without any restrictions on investment areas and sectors. In addition, there is a need for products and services that will reduce Turkey’s import dependency, especially communication and informatics, technical textiles, seed and gene technologies, biotechnology, health and life technologies, innovative products, services and processes, high technology products, environment and renewable energy. Priority is given to projects with high added value. ForFarming, ÇokGıda, KolayIK and Artlabs are some of the important initiatives it supports.
Erciyes Teknopark A.Ş. “ERBAN-Erciyes Business Angel Network” founded by is Kayseri’s first accredited angel investor network. It operates to revitalize the entrepreneurship ecosystem in the region, to implement value-added projects with the support of angel investors and to contribute to their growth. By establishing connections with professional organizations and chambers in the region, it has the opportunity to address a wide audience. Batron Energy and Promoseed are some of its investments.
Established by family members of Sabancı Holding, especially Şevket Sabancı, and currently chaired by Ali Sabancı, Esas Holding supports many initiatives in Turkey and around the world and has a truly dazzling portfolio. Pegasus Airlines, Shoe World, MAC, Getir, Insider, Peyman are just some of the startup portfolios in Turkey. It is possible to say that they have a broader portfolio globally, perhaps even than in Turkey.
GBA, Turkey’s first angel investment network, operates as a non-profit association that invests in digital and innovative business ideas in every sector. It invests in early stage technology companies that can provide a clear value proposition thanks to their business model or product and have reached a certain number of users. Let him tell you, Denebunu.com, Firefly, Insider, AloTech, Revival, FlowerBox are some of his investments.
GAP BAN Angel Investor Network was established in 2018 with the partnership of GAP Regional Development Administration, Karacadağ Development Agency, Dicle Development Agency and İpekyolu Development Agency in order to develop the entrepreneurship ecosystem in the Southeastern Anatolia Region.
Established under the leadership of GAP BAN Development Agencies, it is Turkey’s first angel investor network and aims to use the angel investment instrument in the field of regional development.
GAPBAN Angel Investor Network aims to bring together entrepreneurial ideas in the region with its angel investors, and to ensure that creative business ideas come to life with mentorship and network support, as well as financial support from angel investors.
Ilab, which has growth potential and invests in leading internet platforms in its field, has truly leading brands in areas such as marketplace, search, comparison and fintect. There are brands such as Kariyer.net, Arabam.com, Emlakjet, Sigortam.net, Hangikredi, cimri.com, Neredekal.
Sabancı University Inovent A.Ş. provides A to Z services and carries out projects in the field of technology commercialization, from entrepreneur candidates at the idea stage to fast-growing startups, from academics developing commercial technologies to medium-sized enterprises seeking funding.
İnventram, Koç Holding’s venture capital investment (CVC) company, invests in early and growth-stage high-technology companies launched by successful entrepreneurs whose vision it shares, with the aim of growing them in global markets. the initiatives it added to its portfolio; It provides support in many different areas, including financial management, legal infrastructure, business development, marketing and sales. It also provides support in expanding and moving companies to developed markets such as the USA. Having assumed a unique role as Turkey’s “technology exporter”, İnventram continues to invest in many areas of high technology and innovation, including medical technologies, financial technologies, SaaS, games and data analytics, with its belief in the technologies of the future.
Istanbul Startup Angels, which has been actively investing since January 2016, has made 24 investments to date, making it the angel investor network that has made the most investments in Turkey in recent years. It is the only angel investor network that can provide end-to-end service in the ecosystem by investing at the seed stage with IOT Telco Labs, Turkey’s first vertical acceleration program.
Among the investments of Istanbul Startup Angels; Sinemia, Pubinno, Baggage, Olev, Voscreen, Mobilmed, Loki, Buy buddy, Park Kolay, 11sight, ACL Delivery, Mobiroller, Anatolian Teknoloji, Most, Good scene, Datapare, Smarttaxi, jetract, Instapio, TDS maker, Scoutuium and Sports and There are merits.
As its name suggests, it is a Venture Capital established by İşbank. Some of the companies it supports: Tatilbudur.com, Aras Cargo, Havaş, Tüyap and Mars Production.
Keiretsu Forum, Technology, consumer goods, internet, healthcare, energy, real estate, etc. It has invested in more than 150 entrepreneurial companies in various high-growth sectors. Members evaluate entrepreneurial companies as a group, but make investment decisions themselves.
Companies applying to Keiretsu Forum Turkey have generally received first or second stage investments from the financial community. Passed the idea stages of entrepreneurial companies, established their companies and provided their core financing with their own means.
They are expected to be. It is a forum where entrepreneurs from every sector can apply.
It has a portfolio consisting of RePG, EasyCep, Pazardan, Agrovisio, My Home Psychologist, ForFarming and dozens of other startups.
KOBI Venture Capital Investment Partnership Inc. was founded in 1999 with the participation of organizations such as the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Halk Bank, Small and Medium Scale Industry Development and Support Administration (KOSGEB), and the Confederation of Turkish Tradesmen and Craftsmen (TESK). It was established in Ankara and provides resources to meet the financial demands and needs of SMEs in Turkey.
It is the first Entrepreneurship and Investment Consultancy company that started operating in Turkey in 2006. LabX, Turkey’s largest inter-university entrepreneurship competition since 2007, Do You Have an IDEA? Entrepreneurship Competition and Do You Have an Idea since 2010? He organizes a TV show.
Rhea Venture Capital Investment Partnership Inc. It is an investment company subject to CMB legislation, whose shares are traded on the ISE (RHEAG).
RHEA Girişim focuses on SMEs with high potential, aiming for sector leadership and regional market leadership, and aims to add value to all its stakeholders with its investments through partnership.
StartupCentrum Angel Investment Network
It offers services such as regular monthly startup recognition meetings, unlimited participation in Deep Dive meetings, access to 2000+ startups and more than 15,000 users that are members of the platform, access to more than 200,000 startup analyzes globally and corporate membership options. Some Investments: Rentiva, Yeniben, Tosby Games, Paratic, Barty
Şirket Ortağım Angel Investment Network
CompanyOrtağım is among the first Angel Investor Networks of Turkey, accredited in 2014 within the scope of the BKS (Individual Participation Capital) legislation published by the Ministry of Treasury and Finance of the Republic of Turkey.
Researching and finding innovative ventures that have passed the idea stage and become commercial, regardless of sector difference, carefully selecting the suitable ones among the ventures by the CompanyOrtağım Management and preparing them for investor presentation, bringing the ventures together in regular meetings with Investors, carrying out the legal processes of the ventures for which investment decisions have been made, and ensuring that the investments made are Regular monitoring and reporting to Investors and researching and managing exit opportunities are among the main activities of the Network. All these processes are meticulously carried out by the ŞirketOrtağım Angel Investor Network on behalf of the Investors. Arventej, Varsapp, Send Here, Ferge, Abonesepeti, Snapbuy, Engelsiz Çeviri are some of the initiatives it supports.
Teb Private Angel Investment Platform
TEB Private Angel Investment Platform is a platform that aims to bring together visionary individuals who want to make angel investments, who are asset owners, innovative, open to evaluating different alternatives in the field of investment, and startups.
TEB Private Angel Investment Platform presents projects that can be invested with angel investment status not only in the country but also abroad, to its customers and creates a platform where they can meet experienced angel investors and share their experiences. You can see dozens of startups such as Eyedus, Ekotab, Edutech, Pariyer, GyroTurk, RePG, KolayIK in their portfolio.
It invests in technology-focused early stage technology start-ups in many fields from energy to biotechnology, from medical to food, from artificial intelligence to cloud and mobile solutions. Sensai, Tuşla, RePG, Buckai, Adlema are some of the startups it invests in.
Antalya Teknokent Manager and Operator Inc. T.R. Within the scope of the BKS (Individual Participation Capital) legislation published by the Ministry of Treasury and Finance, the angel investment network started the application process in 2022 and is waiting for the accreditation processes to be completed.
Antalya Teknokent, which has pre-incubation and incubation facilities to contribute to the development of innovative technologies, especially in the Software, Informatics, Defense Industry, Agriculture and Food sectors, aims to provide a suitable investment environment for technology initiatives from the region and nationally with the establishment of the BKY Network. It provides services such as holding startup and investor meetings, startup analysis for investors, investor presentation support for startups, and licensing process support for investors.
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