Who should apply?
We like innovative Swiss based companies with strong teams, promising technology, big potential markets, solid barriers to entry and an IPO/exit prospect. We like to be the first external money into the deal. At this early stage, being certain that a company will have all of these characteristics is impossible — that is what makes investing at this stage risky. However, the more a company is like this, the more likely it will succeed in raising money from BAS. Investing very early, our valuation expectations are rather low. That's why we do not invest in startups with a valuation in excess of CHF 5 million.
How are projects selected?
If you submit an application to BAS it will be forwarded to a Jury of BAS members who will pre-screen all applications. They convene once a month in each region and select the three most interesting startups to pitch at the next dinner meeting.
Do we charge any fees?
For the participation at a dinner meeting we charge CHF 100.- per startup (up to 3 people) and we recommend that at least two of you come. There are no other fees.
How is confidentiality ensured?
Since we receive so many applications our policy is not to sign NDAs (non-disclosure agreements). BAS prides itself on its practice of the highest respect and care of the confidentiality of all information received. We treat you as we ourselves wish to be treated. However, you should not, under any circumstances, forward highly confidential or proprietary information to us before the due diligence phase starts.
How are BAS investments made?
engagement of business angels is not paid with cash, but with
shares/purchase rights, partly also on a success basis. Business angels
can also complement the team in white areas of expertise (e.g. relevant
relationship network to potential customers/distributors, competitors,
exit partners).BAS members invest as individuals, there is currently no syndication or grouping of several investors. BAS, as an association, is only the enabler and does not invest. Our members prefer engagements in shares. The usual amount invested is between CHF 50'000.- and CHF 500'000.- distributed over several members. In case a minimum ticket size is expected, BAS Members will invest through a SISAT (Swiss Investment Syndicate Agreement Template). Financing through loans is the exception (e.g. for bridging financing or for convertible/mezzanine loans). So you should be willing to sell or transfer a minority of your shares.
Where should the startup be located?
In principle, we only invest in companies located in Switzerland. This allows us to remain close to our startups throughout the early stages of development.
How long does it take to receive an investment?
Members have participated in financings within three days of the dinner presentation. However, if BAS is the lead on a financing round, you should anticipate that it would take between 2-3 months for a deal to close.