We are delighted to share insights from a recent 4NGELS webinar featuring Vuk Lau, a seasoned SaaS veteran and Partner at Silicon Gardens Fund. Lau, esteemed  member of the executive board of the Startup and Scaleup Association at the Chamber of Commerce and Industry of Slovenia, offered invaluable perspectives on deal flow sourcing and due diligence. For those contemplating enrollment in the 4NGELS program, recent sessions are hosted in Slovenia, opportunities for participation persist. Remaining webinars include startup pitching, legal insights, and a study trip.

Watch the First Online Training for Business Angels with Vuk Lau

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The first part of the webinar focused on strategies for enhancing deal flow, highlighting the absence of a one-size-fits-all solution. Improvement demands dedication and perseverance over time. Crafting a personalized plan tailored to individual needs is recommended. Additionally, attending reputable conferences to identify promising startups and acquiring high-quality pitch decks, rather than accumulating numerous inferior ones, is advised. Engaging with the startup ecosystem can also be achieved through avenues such as mentoring at incubators, establishing expertise in specific subject areas, participating in business angel clubs, and maintaining a proactive approach

The guest also provided insights on enhancing one's role as a business angel. This involves consolidating deals in a centralized system like a CRM or a well-maintained Excel sheet for easy access and organization. Regular updates and maintenance of this database are crucial to avoid missing out on promising opportunities. Additionally, recording online meetings with startups, taking thorough notes, and ensuring that pitch details are preserved are essential practices. It's equally important to self-reflect and continuously improve as an investor, as stepping back can help mitigate errors throughout the investment process.

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According to Vuk Lau, startup founders, often driven by enthusiasm, may unintentionally overstate information. To address this, assess risks and have open conversations about them with startups. Additionally leveraging your network for insights can provide valuable perspectives, reducing risks in areas where you lack expertise. Furthermore, the team behind a startup is a crucial indicator of its success. Therefore, gathering extensive information about the team is essential. This can be achieved by engaging with all members, not just the co-founders. In smaller startup organizations, success often hinges on the contribution of each team member, making it even more critical to understand the entire team dynamics.

When navigating through due diligence, it's vital to establish clear objectives for each stage. Firstly, in the screening phase, the primary focus is on assessing whether the opportunity merits further exploration, prompting questions such as "Is it worth my time?" Moving on to the preliminary review stage, it's essential to conduct a thorough examination, engaging with all co-founders and scrutinizing the product. Finally, during the deep dive phase, it's crucial to delve into every aspect, meticulously analyzing legal, financial, and administrative components. Involving a lawyer in this final step is advised.

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Do not hesitate to contact us at info@businessangels.si.

To learn more about 4NGELS and join the program, visit www.cobinangels.com/4ngels.

4NGELS programme is funded by European Commission.