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BUSINESS ANGELS IN PORTUGUESE DIASPORA FNABA- FEDERAÇÃO NACIONAL DE ASSOCIAÇÕES DE BUSINESS ANGELS By Francisco Banha, Board President, in ACA CONGRESS S.FRANCISCO , 19 APRIL 2013 Recent Financial Evolution of Portugal The government was incapable of doing anything to improve the situation when the country was declared on the verge of bankruptcy by 2011. Anxiety on the financial markets Austerity measures amid increased pressure on government bonds Bailout loan, bank rescue and further austerity measures Despite of the obstacles, in 2 years: - Portugal already re-entered the financial markets - Exports increased 6% (19,8% for Non-European markets) World record! Surfing a 90 ft wave in Nazare , Portugal! 'The Times' 30Th January Portuguese Entrepreneurial Ecosystem! Academic and scientific Institutions Grand Companies and corporate Ventures Tech and Independent and Hosting Institutional Structures operators and family offices Dynamics Agencies and Structures THE TALENT WE HAVE TO NURTURE During the visit of Cavaco Silva to the factory of Cisco Systems in Silicon Valley, John Chambers underlined also that «Portugal is a good country to invest and with good work ethics and with great universities, such as Técnico». 75.000 researchers in Portugal : 76% in universities and 24% in companies “BA IN PORTUGAL: IT ALL STARTED IN JANUARY 2000” IAPMEI- Suporte Institucional 39 WORLD BUSINESS ANGELS ASSOCIATION International platform for the professionalization of BA, sharing of good practices and promoting the entrepreneurship around the world. Founding countries: Portugal, Spain, United Kingdom, France, Italy, India, China, USA, Chile, Australia and UAE. Business Angels Leaders Forum Outubro 2007 MAIN TARGET 9 DIASPORA BANS AROUND THE WORLD San Jose/ Canada Silicon Valley Paris New York/ Macao Washington Dubai /UAE Australia São Paulo/ Rio de Janeiro Angola/Mozambique/ Cape Verde THE PRESIDENT SUPPORT Launch of this Diaspora BANs project occurred on November 2011 during the Portuguese Republic President visit to the USA. FNABA was one of the 7 entities to be on the Presidential visit entourage SUITABLE FINANCING TOOL BUSINESS ANGELS Co- Investment Fund . Public Contest initiated in: August 31st 2008 and in force since: March 2011 . Mechanism: Program COMPETE (with European Financing) . Initial Financing: 10 Million Euro . Total financing: 28 Million Euro . Number of applicants: 67 – 52 FNABA . Number of approved applications: 54 – 46 FNABA . Number of Business Angels involved: 267 – 217 FNABA . Funds given to Business Angels: 12.5 Million Euro . Funds given by Caixa Capital: 1.5 Million Euro . 78 Investments made in 24 months in the amount of: 10.4 Million Euros 31.6 Million Euro available to invest in start-ups Diaspora’s leaders profile (i) Knowledge about the Entrepreneurial Ecosystem in their region: Business Angels, VCs, Universities, Business Associations and other local agents; (ii) Frequent contacts with Portuguese entities and bodies – Financial System (Eg: Caixa Geral Depósitos, Banif…); State Secretariats; AICEP, private companies; (iii) Knowledge about the venture capital’s Modus Operandi; (iv) Capacity to nurture the relationship and “network” culture between Portuguese businessmen and investors throughout their region; (v) Business experience both as founder and manager; Portuguese Fund For Diaspora PORTUGUESE DIASPORA PT BAs Entrepreneurs Local US Portuguese Portuguese Startup Portuguese Co-Investment Gov. Fund Startup Fund Diaspora Only PT BANs money DIÁSPORA Bas Portuguese Bas Funds Side car Funds First Diaspora BAN In California! Second Diaspora BAN In Dubai ! USA Promoters: Armando Pereira, Helder Antunes and Manuel Bettencourt; DUBAI Promoters : Pedro Mendes and Henrique Ribeiro Portuguese Gov. Fund Diaspora BANs Value: 25 M USD (i) CALIFORNIA FUND – 11 M USD • Diaspora Bas : 5 M USD • Portuguese Government: 5 M USD • Azores Regional Fund : 1M USD (ii) DUBAI FUND – 5 M USD • Diaspora Bas : 2.5 M USD • Portuguese Government: 2.5 M USD Portuguese Co-Investment Fund and news Start-ups If you want to go fast, go alone; If you want to go far, go in group. African proverb Francisco Banha Board Member, EBAN Board Member, WBAA President, FNABA President, Business Angels Club [email protected] www.franciscobanha.com .