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Proven Success from Applying Fundamentals
Symfonie Angel Ventures, LP seeks to identify and invest in start-up and early stagecompanies, mainly in Central and Eastern Europe. Our Prague based team is uniquelypositioned to find good companies, know the management well and work with them to addvalue. We want to exit within five years and with at least 4X what we invest.
According to a study done by Ewing Marion Kauffman Foundation and the Angel CapitalEducation Foundation success is linked to certain fundamentals:•
Research and Due Diligence
-The exits where investors spent more than 40 hours doingdue diligence (the top quartile) experienced a 7.1X multiple.•
-Investment multiples were twice as high for investments in ventures connectedto investors’industry expertise.•
-In the data collected for this study, angel investors who interacted withthe venture a couple of times per month spent time mentoring, coaching, consulting with andmonitoring the companies in which they invest. These angel investors experienced an overallexit multiple of 3.7X in four years –i.e. 45% annual returns.
Source: Boeker& Wiltbrook, “Returns to Angel Investors in Groups”, 2007. Ewing Marion Kauffman Foundation, Angel Capital Education Foundation