Last week Ukrainian business angels announced the creation of the UAngel local and international association. UAngel will provide access to information on deals, encourage co-investment and organize events and training programs for association members.
“This is a super-important element of the startup ecosystem, which Ukraine was indeed missing. Just compare these numbers: in 2012, VCs invested 1.9 billion euros in early-stage startups, and business-angels invested 5.1 billion euros!” Viktoriya Tigipko, a prominent figure on the local venture scene, posted on Facebook.
“It’s another step towards Ukrainian integration to global markets. We do hope that Ukrainian angels will be actively making deals with European angels,” she added.
However, no more than one business angel in five has joined the association so far, online tech publication AIN quoted a venture expert as saying. According to him, most Ukrainian business angels prefer to remain discrete in their activities.
Individuals can become UAngel members, and companies can join with the rights of affiliate members. The recommendations of two current members are needed for a new membership. The membership fee is $1000 a year for angels and $3000 a year for partner companies.
UAngel has been a full member of the major European Business Angels Network (EBAN) since it was created. Thanks to that, UAngel members have free access to the Gust global platform.
EastLabs – whose general manager Eveline Buchatskiy took an active part in the initiative, the American Chamber of Commerce, and the law firm of Alexeev, Boyarchukov and Partners have also become partners in the association.
Yanika Merilo is a managing partner in UAngel. She has worked in the sphere of early-stage technology investment for 17 years in Eastern Europe and the USA.