Training dedicated to business angels at the beginner level or those who wish to specialize
In order to fill the lack of training for investors, Be Angels has created the “Be Angels Academy”, three-day courses entirely dedicated to business angels! Through this course, our aim is to provide you with all the necessary tools to carry out your investments and to approach the activity of business angels with practical and theoretical knowledge. Because experienced investors know that they learn the most from their failures, the Be Angels team wants to give you the basic “know-how” through the different modules.
Below, you will find all the 8 modules that will be discussed.
If you wish to participate in the next training cycle, ensure that you sign up for the waiting list as soon as possible. Seats are limited.
Module 1 – The investment cycle
Give a complete overview of the typical investment cycle by a business angel, in order to have a basis of common understanding before diving into the subject with further details.
Thierry Dosogne is a Sales Engineer at Solvay Business School, where he graduated in 1978. He has held senior management positions at five multinational companies, covering multiple territories in Europe, the North and South Americas, and Asia where he lived for many years when he was President and CEO of Heidelberg Cement – Asia (group created from the merger with CBR). With his experience and knowledge in Operational Management and in International Expansion Strategy, he now devotes his time to helping ambitious and talented young entrepreneurs. He works with them in developing their Business, equipping them with the necessary means to reach their objectives. He has been part of the Be Angels network since 2006, and is a member of its Selection Committee. He has already invested in 9 start-ups and has achieved 5 positive exits. He is currently active in 4 companies as Chairman of the Board of Directors and / or member of the Strategic Committee.
After training as a civil engineer at the University of Louvain-la-Neuve, he began his career in Liège in a design office where he quickly took charge of the deployment of computerized management tools. He then transitioned to the darker side of the IT world by integrating the IT department of a large Belgian family group where he was in charge of the new management systems of the company. His desire to discover other horizons pushed him to join a Belgian consulting company, which we would call today a start-up (less than 100 people after 2 years – doubling the number of members each year). There, he led international deployment projects and managed customer teams first, then internal teams. The pleasure of discovering different local cultures and of working with large numbers of customers was intense and rewarding for him.
Subsequently, Baudouin decided to refocus on less distant clients and longer-term missions. He then started working independently and created a first structure, later followed by a second one, the goal of which was to assist his clients in developing a strategy to implement their reporting tool.
His many contacts made him (re) discover the world of start-ups (which are finally called as such), and after his first investments, he joined Be Angels and a first learning group (AB2). Later on, he joined 3 others, the last 2 as co-coach and coach. Although no longer involved in investment groups, Baudouin remains active in Be Angels through the selection committee and the trainings.
Module 2 – Due Diligence
- How is due diligence done, what are the main aspects evaluated?
- How long does it take and what methods are used?
- How do entrepreneurs evaluate their investors?
Module 3 – Valuation
- How to calculate a share price and a total valuation for start-ups?
- What are the different approaches and benchmarks?
- How to maximize the potential for added value while reducing risks?
- How to negotiate a valuation?
- Examples of negotiations conducted
- Testimonials and recommendations
Module 4 – Negotiation: from the investment letter to the deal
- Why set agreements (deal terms and shareholder agreements)? How are they created?
- How long are the deal terms negotiated for ? How long do they last?
- What are the differences between a shareholder agreement and a term sheet?
- What are they made of?
Module 5 – Portfolio management and monitoring
- Understanding and measuring the ROI (on tax : tax shelter, …).
- Financial tools that have an impact on the management of your lines: capital investment vs. convertible debt; recovery plan – advantages and disadvantages.
- Managing a capitalization table and learning to monitor the effects of dilution or enhancement.
Module 6 – Basis of Good Governance
- How to establish an effective support relationship and the basics of good governance?
- What are the differences between mentor, coach and partner?
- How to identify business problems and how to deal with them?
- How do business angels work with entrepreneurs, board members and shareholders?
- Why join a board of directors as a business angel?
- Roles of Board Members, Responsibilities and Role of Good Governance in Creating Value and Preparing for a Positive Exit
- Special follow-up with start-ups and simplified reporting tools
Module 7 – Refinancing
- Key Issues and Points of Attention, Project Risk Management
- When does refinancing generally take place? How does it work?
- Impact of the exercise of pre-emption rights
- New due diligence in the next round
Patrick de Bellefroid
Module 8 – Preparing Your Exit
- Rethink the investment process with enough focus on exit. How and why prepare for it as soon as you enter the capital?
- What are the types of exits and what does the process look like?
- How to maximize the value of your portfolio by limiting losses and maximizing the values at the time of exit.
- How to manage unprofitable investments?
- How to make a “good loss”?
- Tax aspects – treatment of surplus value.
Registration Cost goes as follow:
- € 1450 for Be Angels members
- € 2450 for non-members