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From Angel Network to Investment Platform: the story of Growceanu

The new member of Business Angels Europe, Growceanu, is a digital angel platform that combines the social interaction of angels (and startups) within a digital environment. BAE speaks with one of its co-founders, Ciprian Man, from Romania.

From zero to angel network: starting Growceanu

“In 2017 we realized Romania’s budding startup ecosystem very much needed some people who would invest in startups without the bureaucratic hooks attached to public funds (which weren’t actually plentiful). Our small group had been talking about it for well over a year, and all of us realized that what we wanted was to be business angels, and, in fact, we were already behaving as such.

What we also realized, though, was that it was difficult to do it on our own. We hadn’t really seen what angel groups look like. The ones active in Romania weren’t really visible (Tech Angels was quite reserved at the time). We didn’t have a recipe.

The ‘How?’ question took a really long time to answer, and was only answered in full during the ESIL programme. Philippe Gluntz and Brigitte Baumann, especially, gave us the insights and understanding of what a good angel group does and what a good business angel network looks like. ESIL ultimately played no small part in getting us off the ground.

Next, we set up our group, and did 6 investments in less than two years. And then we upgraded the concept from group to platform and we nearly tripled that number.”

From Angel Network to Platform