European Business Angels Take Startup Financing Online

NEW YORK, June 21, 2011 /PRNewswire/ -- More than 400 early-stage investment leaders from 37 countries took a significant step into the future at Europe's annual startup financing summit, the 11th EBAN Business Angel Network Congress. The event, held in Warsaw, Poland, highlighted the rapid adoption of a multinational platform for coordinating early stage business angel investments. Over 35,000 professional early stage investors from over 650 business angel networks in 65 countries are now standardized on a single set of collaboration tools that is helping to fuel the growth of the vibrant European entrepreneurial economy.

The Angelsoft platform, adopted by nearly a dozen national business angel federations including those of France, Ireland, Australia, New Zealand, the United States and Canada, was awarded the prize for 'Breakthrough Service/Tool of the Year' by EBAN, the European trade association for business angels, seed funds, and other early stage market players. The award noted that the widespread adoption of a single international platform has greatly simplified the process of connecting high-growth entrepreneurs with individual investors and venture capital seed funds.

Startups seeking to become the next Skype or vente-privee.com can complete a single profile form, which then serves as the basis for the funding applications used by most organized business angel networks. Investors in those networks then use Angelsoft's professional diligence and collaboration tools to review investment opportunities and syndicate investment rounds, both within and among networks. Once an investment has been made, the platform provides ongoing portfolio management and investor relations support, ensuring that entrepreneurs are able to best leverage the resources of their investors, and that investors are kept up to date with current information.

EBAN's award to Angelsoft was announced by an international jury of leading business angels, including Anna Hejka (Polish Private Equity Association), Frank van Beuningen (SOCAP/Europe), Brigitte Baumann (President of the Board of EBAN), Michał Olszewski (Business Angel Seedfund) and Bill Payne (international business angel investing expert). The criteria for the prize included the novelty of the platform; its efficiency compared to previous methods; and the possibility of replicating the best practice in other networks around the world.

"We are honored to receive this prestigious award and take great pride in our role helping to fuel the early-stage economy in Europe," said David S. Rose, Founder and Chief Executive of Angelsoft. "Angelsoft has an unwavering commitment to meet the rapidly changing demands of the global early-stage economy, and we will remain deeply focused on making new exciting strides in this market as it continues to evolve."

The Angelsoft platform was nominated for the EBAN Breakthrough award by Paris Business Angels, the leading early stage investment network in France. "Angelsoft has emerged as the innovative leader in the sourcing and management of early-stage investments in Europe," said Tanguy de La Fouchardiere, President of Paris Business Angels. "We applaud the company's contribution to the vibrant entrepreneurial economy in Europe and expect to see many more significant achievements ahead."

The EBAN award to Angelsoft follows the company's recent partnership with France Angels, one of the largest business angel organizations in Europe, to standardize angel investing deal-flow for early-stage companies in France. Through this partnership, France Angels joined premier business angel groups throughout 65 countries in adopting Angelsoft as its official suite of tools for connecting entrepreneurs with investors and accredited business angels.

About Angelsoft

Angelsoft provides the global platform for the sourcing and management of early-stage investments. Angelsoft enables skilled entrepreneurs to collaborate with the smartest investors by virtually supporting all aspects of their relationships from pitch to successful exit. Angelsoft is endorsed by the world's leading angel associations and now serves over 650 angel groups representing over 35,000 individual investors. More than 120,000 start-ups have already used the platform. Founded in 2004, Angelsoft is based in New York, NY with its development center in Vancouver, BC.

About EBAN

EBAN is the European trade association for business angels, seed funds, and other early stage market players. Its mission is growing the early stage investment asset class, from an estimated 4 billion euros today to 10 billion euros. EBAN serves business angels, business angel networks, seed funds and other early stage investment professionals across Europe and is the representative in Brussels through direct and indirect membership of more than 250 business angel networks in Europe. These in turn federate some 20.000 angels, and receive about 40.000 business plans a year.

SOURCE Angelsoft