Venture investors association set up in Belarus

A non-governmental organization, The BAVIN Business Angels and Venture Investors Association, has been registered in Minsk.

The association has been set up by big local businessmen operating in insurance, construction, mass media, logistics, power engineering, retail sales and manufacturing.

The association will attract and select innovation projects, finalize them and submit to investors. The organization will also provide assistance in resolving legal issues and organization problems to get innovation projects started. BAVIN will develop venture investing, a new branch of economy in Belarus. The association will focus on the so-called seed and start-up projects.

BAVIN has already established contacts with the RUSSBA national business angels union of Russia, Russia’s Private Capital national business angels’ network, St Petersburg’s business angels’ organization, the European Business Angels Network (EBAN), and the Business Incubator Initiative Georgia. The newly-established association also cooperates with the Belarusian Innovations Fund and the State Committee for Science and Technologies.

Business angels are businessmen who invest their funds (without collateral, as a rule) in venture high-tech companies with a huge growth potential. These investments have no formally registered investment funds with a separate administration company. Business angels do not compete with venture capital funds, but complement them investing at various stages. At the same time, total volumes of angels’ investment are several times bigger than those of venture funds. Business angels successfully cooperate with such world brands as Google, Body Shop and Facebook.

According to