Field Reports


Each month, GBAN hosts a one-hour conference call for its members, observers, and special guests to discuss developments from the field. The goal of these Field Reports is to foster cross border cooperation and increase the impact of angel network by providing a forum for the exchange of information, the sharing of experience and knowledge, the exploration of emerging angel investing trends. Moderated by members of the GBAN Board, the discussions feature presentations by leading angel investing experts. Below is a summary of our Field Reports going back to October 2016, with links to relevant materials, such as reports, presentations, etc.


November 27, 2019 - Croatia's Angel Ecosystem

Presenter: Davorin Štetner, President, Croatian Business Angel Network

Moderator: Jonathan Ortmans, Co-Chair, GBAN


The Croatian Business Angels Network (CRANE) is Croatia's leading angel investor organization. In addition to leading CRANE, Štetner is a Board Member of the European Business Angel Network (EBAN), a member of the Economic Council of the President of the Republic of Croatia, and the president of the Croatian Automobile & Karting Federation. Štetner is the owner of various businesses in the media & entertainment industry (motorsport television channel Kreator TV, Kreator Film New York, Zimo digital) and the hospitality industry. He is an active angel investor with a portfolio of investments in startups around the world.


October 30, 2019 - India's Angel Ecosystem

Presenter: Padmaja Ruparel, Co-Founder, Indian Angel Network

Moderator: Jonathan Ortmans, Co-Chair, GBAN


Ruparel presented a thorough overview of India's rapidly developing angel ecosystem, and the impact Indian angels are having on entrepreneurship across the sub-continent. She recounted how angel investing has gone from basically non-existent at the time she co-founded IAN to become an established financial sector. IAN investments now average in the $750,000 range. She also described which startup sectors are booming, how startups vary across India's regions, and how government policy supports entrepreneurship (e.g., administrative digitalization, entrepreneur support programs, investment incentives, etc.).


May 18, 2017 - Building an Angel Network

Presenter: Tomi Davies, Co-Founder, Lagos Angel Network, President,  African Business Angel Network 

Moderator: Candace Johnson, President, European Business Angels Network and Co-Chair, GBAN


For the first half of the call, Davies used his experience in co-founding Lagos Angel Network as a case study for building angel organizations. Utilizing the World Bank guidebook, Creating Your Own Angel Investor Group: A Guide for Emerging and Frontier Markets, Davies broke down the components and how he used them to form LAN in Nigeria. Davies also noted that his experience is in many ways unique to the entrepreneurial environment in Lagos and that it isn’t as important to ‘check boxes’ when it comes to forming a network. In the following discussion, GBAN members compared notes on managing their organizations based on LAN’s continued success, with some taking time to share their own experiences and the unique challenges they faced in founding their local networks. 



October 12, 2016 - Cross-Border Investing

Presenter: Candace Johnson, President, European Business Angels Network, Co-Chair, GBAN

Moderator: John May, President Emeritus, Angel Capital Association, Co-Chair, GBAN


Because entrepreneurs are increasingly going global, Johnson discussed how there's never been a better time to invest internationally and described her experiences investing across borders. Startups, she said, are either growing out of emerging markets or looking to enter markets where they see a need to solve complex problems – which means there is an opportunity for angels to invest in these ventures. During the course of the conversation, Johnson provided valuable advice for those looking to invest beyond their own ecosystem, as well as examples of her successes working with partners around the world.