The business angels platform targets transactions worth over EUR2.5 million in 2022.
“In 2022, we aim to offer investors the right app to build a portfolio of 5-10 relevant tech startups, both Romanian and international. Building connections with founders and other investors is a key element in our process, right from the start. The Growceanu application and investment process facilitate the administrative procedures and eliminate the hassle,” said Ciprian Man, one of the founders of Growceanu & Angels Keeper.
Man also said the Growceanu Investors application brings together all the information a business angel needs, from solid data regarding relevant startups to details about other investors’ interests and the investment round. The app also allows investors to track and get actively involved in the whole investment process, which is otherwise fully managed by Growceanu.
Until the end of 2021, the Growceanu platform had facilitated transactions worth over EUR1 million. In the first two months of 2022, Growceanu has already closed transactions worth over EUR220,000 with Upgrade Academy, Sypher, Plateaway, and a follow-on round with EmailTree. Additional transactions worth around EUR400,000 are well underway, with most already in the closing stage.
For 2022, the Growceanu platform aims to close transactions averaging over EUR100,000, in the context of a faster development of the startup ecosystem.
The Growceanu platform targets companies in Romania and the ECE (CEE) region, but also dynamic startups from elsewhere in Europe, including the UK. The Growceanu team estimates faster growth in the number of startups and the level of investments in Romania compared to more developed countries.
“Supporting regional startups and rallying angel investors is a great mission to have set for ourselves, even more so in times of crisis. The increased risk of conventional investments could also mean greater tolerance for naturally higher-risk startup investments since, like business angels, we can make a big difference to a company’s success. In the current context, we feel Ukraine’s pain, admire its strength and very much look forward to getting back to work together with our Ukrainian brothers and sisters, even as we empathize with the distress felt by so many Russians who strongly distance themselves from Putin’s regime”, added Ciprian Man.