Angels in the cloud to help startups find funding

Stuart Corner
Tuesday, 11 May 2010 12:00

Business IT - Networking

The Australian Association of Angel Investors (AAAI) has launched suite of tools available under a software-as-a-service model that, it claims, "will dramatically enhance the ability of Australian entrepreneurs to attract startup investments from angel investors throughout Australia and around the world."

The tools come from Angelsoft, a global provider of Internet-based software for early-stage investing worldwide. It claims that Angel investment groups and networks, venture capital firms, business incubators and entrepreneurs on six continents rely on its software to facilitate private equity investments into promising companies.

AAAI will use the Angelsoft online tools to run the internal collaboration process within each member angel group and professionally showcase the organisation to prospective entrepreneurs, supporting sponsors, and individual members.

Multiple Australian angel groups will now be on the same platform, allowing investors from multiple groups across the country to work together pooling their funds and resources in order to help entrepreneurs grow their companies.

"As the new standard tool for all early-stage investing in Australia, it enables entrepreneurs to apply for funding throughout the country using one single common application," AAAI says.

Once a funding application has been lodged, Angel group screening committees will use the Angelsoft collaboration system to review applications, and "individual angel investors can use advanced Internet tools to lead deals all the way through to investment."

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