On Thursday the 5th of December, BeyondCapital launched its Angel Investor Network, an initiative that consists of individual angel investors interested in financing early-stage companies. With fundraising being one of the biggest challenges facing entrepreneurs in Jordan, the BeyondCapital Angel Investor Network will facilitate the introduction of entrepreneurs to potential investors.
BeyondCapital, seed funded by the USAID, holds a strong track record for dispatching and managing programmatic investments and specializes in bridging the gap between the entrepreneurial ecosystem and the investor community. To accelerate the growth of the Jordanian start-up ecosystem and expand investment pools, BeyondCapital’s Angel Investor Network will facilitate syndicated deals in which members of the network can invest collectively in early-stage ventures.
The launch event commenced with a welcome note from BeyondCapital’s Managing Director, Tamer Al-Salah who also commented on the vision and model of the network: ‘‘Among the most important considerations for a strong network infrastructure is a system for consistent, quality pipeline. Jordan needs cooperation between its Angel investors and support organizations to set up the right structures for sustainable Angel networks. This would include a dedicated group administration, matching capital, and in-house support’’.
With support from partner organizations ISSF and GIZ, BeyondCapital will provide members with various services which remove existing barriers to this asset class. The core services which BeyondCapital will provide to the network include deal sourcing, deal screening, due diligence support, operations management, optional trainings, access to matching capital, legal support related to due diligences and SPV setup, and term sheet negotiation support.
Al-Salah also stated the importance of the initiative commenting: ‘‘Angel Investors are associated with high-growth companies due to their ability to fill in the financing gap at the seed and pre-series A stage, as well as provide their knowledge and expertise to entrepreneurs. BeyondCapital aims to make the process of investing easier for members of the network’’.
The event continued with a few words from Kenton Hamlin, Programs & Partnerships associate, who outlined the next steps for members and emphasized that the success of the network will also rely on committed and active members: ‘Participation will be rewarding and fun, but above all else, we aim to create wealth and jobs in Jordan and the region. We look forward to building this together.’
The event also included statements from Laith Al-Qasem of ISSF and Diana Hollman of GIZ, who detailed their support to the Network, as well as a closing words from Walid Tahabsem, BeyondCaptial’s Chief of Party, on BeyondCapital’s vision for its Angel Support programs. ‘With the help of the sophisticated group of individuals we have here today, the Angel Network will add value to the ecosystem that will translate into the growth of the Jordanian economy.’