A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

EL IESE

WA@IESEBringing more women into startup investment

Linking womento the entrepreneurialecosystem

IESE Business School 2 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

Lower than 10% of angel investorsare women

IESE Business School 3 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

ENTREPRENEURIAL MINDS

60%

EXTENSIVE BUSINESS EXPERIENCE (+41 YEARS OLD)

78%

VERY ENTREPRENEURIAL (FONDED +1 BUSINESS)

19%

Profiling Women Angel Investing

WBA IN EUROPE WHO THEY ARE*?

OFTEN INVESTING ALONE

54%

HAVE INVESTED IN 3 TO 10 WOMEN LEAD STARTUPS

20%

HAVE INVESTED IN ONE WOMEN LEAD STARTUP

54%

*Study carried out by WA4E with IESE Business SchoolWA4, The Barriers and Opportunities for Women Angel Investing in Europe, 2018

IESE Business School 4 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

ANNUAL INCOME IN POUNDS (1 pound = 1,16 euros)

Moderate correlation between annual income and disposable assets to turn into angel investmentWBA IN EUROPE ANNUAL INCOME DISTRIBUCION

52,63%

37,89%

9,12%

0,35%

0,00%

Less than 100,000pounds

100,000 and200,000

200,000 and500,000

500,000 and1,000,000

More than1,000,000

29,4%

39,2%

5,8%

1,9%

IESE Business School 5 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

YEARS ACTIVE AS ANGEL INVESTORS

Women have only relatively recently participated in the angel market and also indicating that women investing is a very recent phenomenon in less developed angel markets such as Portugal Spain and Italy.

WBA IN EUROPE INVESTMENT EXPERIENCE

27,42%

19,68%

29,03%

15,16%

8,71%

1 year

2 years

3 to 5 years

6 to 10 years

More than 11years

27,4%

17,6%

29,4%

13,7%

11,7%Spain

IESE Business School 6 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

NUMBER OF INVESTMENTS MADE

This reinforces the situation that there are very few role models able to pass on their experience about angel investing to other potential women investors.

WBA IN EUROPE INVESTMENT EXPERIENCE II

27,10%

23,23%

40,00%

6,45%

3,23%

1

2

3 to 10

11 to 20

More than 21

43,1%

9,8%

43,1%

3,9%

IESE Business School 7 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

25%

23,000 to58,000 €

WBA IN EUROPE MONEY INVESTED PER YEAR

58,000 to116,000 €

27%6,000 to 11,500 €

28%

11,500 to23,000 €

27%

More than116,000 €

7%

majority of women angel investors (47%) were typically investing between £5,000- £10,000 per company/funding round, reflecting a low risk approach. Just over 11% are putting in between £20,000 and £50,000,

39%

37%

37%

13%4%

6%

6,000 to 11,500 €

11,500 to23,000 €

23,000 to58,000 €

More than116,000 €

58,000 to116,000 €

IESE Business School 8 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

OTHER AND FINANCIAL

Respondents could select multiple choicesWBA IN EUROPE MOTIVATIONS FOR BEING AN ANGEL INVESTOR

72%

64%

59%

56%

44%

39%

37%

I want to support entrepreneurs and newbusinesses

I like doing something interesting and useful withpart of my money

It's a great way to stay up-to-date with newbusinesses and technologies

I want to make a financial return

I want to join Boards in my investments

I want to enjoy tax benefits

I like meeting with angel investors and networking

IESE Business School 9 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

Drop us an email.

WBA IN EUROPE REASONS FOR BEING ONLY 11% OF WOMEN ANGELSWomen currently investing (In read reasons for women not investing)

181

11975

IESE Business School 10 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

… and more onwomen …

IESE Business School 11 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

FUNDS INVESTED OUT OF TOTAL FUNDS

935,000$ 2,100,000$

662,000$

31 cents

Why women lead startups are a better bet, BCG, 2018PitchBook Data, 2016UK VC & female founders, British Business Bank, 2019

13%

11%

17%

DOLLAR INVESTED TO DOLLAR OF REVENUE

78 cents

HIGHER CUMULTIVE REVENUE OVER 5 YEARS

730,000$

Data on women lead startups

WOMEN IN BUSINESS GENDER ISSUES?

VC NUMBERS: % DEALS

UK DEAL FLOW NO FEMALES IN THE TEAM

75%

HAVE INVESTED IN ONE WOMEN LEAD STARTUP

4,4%

2%

SENIOR PEOPLE ON UK VC FUNDS UK INVESTMENT STARTUPS WITH A WOMAN

UK INVESTMENT STARTUPS WITH A WOMAN (£)

IESE Business School 12 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

WhyWA@IESE?

ACCESS TO INNOVATIVE STARTUPS

PRESENCE IN THE ENTREPRENEURIAL COMMUNITY

INVESTMENT OPORTUNITIES AND HENCE RETURNS

CONNECTION AND NETWORKING OPPORTUNITIES

By not beeing active as ANGEL INVESTORS WOMEN are lagging behind regarding:

IESE Business School 13 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

WA@IESE

IESE Business School 14 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

.

Road map for potential investors at IESE

GET INTRODUCED TO

ANGEL INVESTMENT

ATTEND THE WORKSHOPS

JOIN AN ANGEL NETWORK

WORK WITH AN ANGEL

MENTOR

INVEST ACTIVELY

Drop us an email.

JOIN AS A COACH TO SUPPORT

OTHER WOMEN

WA@IESE HOW

IESE Business School 15 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

+200 ACTIVE INVESTORS

10INVESTMENT FORUMS A YEAR

+3200JOBS CREATED

+300INVESTORS TRAINED

+300 INVESTORS IN CLUBS

221STARTUPS INVESTED

+45m €INVESTED

IESE ANGEL NETWORKKEY FIGURES

IESE Business School 16 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

IESE WomenAngels

is NOW

IESE Business School 17 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

NOTONLYWOMEN

IESE Business School 18 A WAY TO LEARN. A MARK TO MAKE. A WORLD TO CHANGE.

I am in!

Contact:Amparo de San José Riestraadesanjose@iese.edu