Introduction
Investment is one of the, if not the most primary need for entrepreneurs and startups for their venture’s sustainability and growth. Whether it is during the early days of pilot testing, for developing an initial customer base, for developing channels, for building a team, or for scaling up, access to investment is the key to progress. Though traditional sources of investment and financial services such as financial institutions (banks, investment companies, co-operatives) have initiated financial services for entrepreneurs, however, it comes with collateral requirements which for a youth-led or early-stage startup is hard to fulfill. As the interest in startups and entrepreneurship develops, there is a desperate need for access to alternative investments in the early-stage ventures and companies that have a promise if met with the right assistance and support. With this understanding Investment Circle is facilitating an Angel Network, Nepal Business Angels Circle, to provide access to early-stage investment and mentorship to promising startups.
Pitch Date with Angels
Pitch Date with Angels is an initiation for supporting start-ups to meet with angel investors to pitch their ideas and secure funding. It is a monthly investment event, where 3 ideas/startups are selected after screening and are invited to attend the event to pitch their ideas to angels. It is an opportunity for startups to get investments, build investment networks, and enhance strategic knowledge. This event is primarily tailored for startups to meet angels, understand their investment needs, pitch their ideas and explore investment possibilities. For angel investors, Pitch Date with Angels provides access to startup deals that are prequalified and assessed, connect with other like-minded investors, make collaborative investment decisions, and learn with or from peer angel investors.
Startup applications for this edition of “Pitch Date with Angels” we received were 25 startups which consist of some scaling up ventures, early stage ventures and those in research and development. Out of these 25 applicants we selected 15 startups for our screening process i.e. idea presentation with our startup selection committee members. Through this screening we selected the 3 startups for the main pitch event, and those 3 startups were, 1) Vurilo Nepal Pvt. Ltd.; 2) Lanceme Up; and 3) Lil Bud Digital Education Pvt. Ltd.
These 3 startups pitch their ideas at Pitch Date with Angels event on 16th of June 2023, in front of our audience members which includes representatives from PEVC firms, investment firms, angel investment enthusiasts, startup ecosystems enablers like accelerators, incubations.
The ticket size of Vurilo Nepal’s was 1.25 crore for 18% equity, similarly, Lil Bud Digital Education”s was 50 Lakhs with negotiable equity size, and Lanceme Up asked 1 Crore investment amount to investors against the equity delusion of 10%.
Nepal Business Angels Circle appreciates these 3 startups for showcasing their business ideas and our guest attendances for their valuable presences and making the 4 edition of “Pitch Date with Angels” successful.
