What is a network?<\/h2><\/div><\/div>[vc_column_text]<\/p>\n\n\nBusiness angels very often operate within networks.<\/span><\/span> A business angel network is a formally constituted organization that connects potential investors with entrepreneurs, aiming to facilitate investments by business angels and serve as a focal point for entrepreneurs seeking funding.<\/span><\/span><\/div>\n<\/div>\nEach business angel network that is a member of France Angels commits to supporting and promoting business angel activity in its region and to connecting entrepreneurs seeking funding with the business angels belonging to its own network.<\/span><\/span><\/div>\n<\/div>\nFrance Angels brings together various types of structures with diverse objectives and differing operational and investment approaches.<\/span><\/span><\/div>\n<\/div>\n<\/div>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” type=”vc_default” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1595341499509{padding-bottom: 50px !important;background-color: #f5f5f5 !important;}”]
<\/div>Legal structures<\/h2><\/div><\/div>[vc_tabs interval=”0″ style=”tab-style-two” el_class=”onglets”][vc_tab title=”Associative” tab_id=”0efb6f33-4a2b-2″][vc_column_text]The associative networks are structures dedicated to bringing entrepreneurs \/ investors together. Generally, the structure organizes monthly meetings to present selected projects to an audience of potential investors. These networks are mainly used for projects requiring small amounts (often less than 200,000 euros). The Business Angel joins such a network by paying an annual fee. The network pools its expertise with the other network members and makes its own decision whether or not to invest in the projects presented.<\/span>[\/vc_column_text][\/vc_tab][vc_tab title=”Business Angels Investment Company (BAIC)” tab_id=”b6571edb-2e85-4″][vc_column_text]The establishment of these investment companies can meet two objectives<\/span>:<\/p>\n\n- Some Business Angels (especially in a small group, from 10 to 20 people) wish to remain “among themselves” without seeking strong regional visibility. They then agree to put their money in a “common pot”<\/span>.<\/li>\n
- Certain networks wish to acquire, in parallel with the associative structure, a BAIC allowing them to supplement the investments of individual Business Angels<\/span>.<\/li>\n<\/ul>\n
Creating an investment company requires strict operating rules (board of directors, chairman, etc.) and investment decision (investment committee). It imposes a fairly rigorous discipline on its members but is very effective in terms of quality and speed of decision as well as of investment capacity.<\/span><\/p>\nThere are 2 types of appropriate legal and fiscal structures<\/span>:<\/p>\n\n- The limited company \/ joint-stock company allowing in particular to benefit from reductions of the personal income tax and solidarity\u00a0tax on wealth during the investments of the holding company in eligible SMEs<\/span>,<\/li>\n
- The limited company \/ joint-stock company\u2019s “Venture Capital Company tax option” allowing in particular to benefit, when reselling the interests, from an exemption from capital gains<\/span>.<\/li>\n<\/ul>\n
[\/vc_column_text][\/vc_tab][vc_tab title=”Mixed organization” tab_id=”1595601507550-2-8″][vc_column_text]It is possible to create a mixed organization (Association + Investment company). More and more networks having experience with the associative structure or the Investment Company structure come to the conclusion that a double structure (whether or not the Business Angels are members of the two structures) has many advantages. The associative structure allows easier \u201cacculturation\u201d of new, less experienced Business Angels, various communication actions aimed at recruiting new members and systematic contact with entrepreneurs seeking funding. The Investment Company structure enhances organized collective decisions and it effectively brings together a larger number of Business Angels, both active and passive.<\/span>[\/vc_column_text][\/vc_tab][\/vc_tabs][\/vc_column][\/vc_row][vc_row type=”vc_default”][vc_column css=”.vc_custom_1498229445232{padding-bottom: 50px !important;}”]<\/div>Investment process<\/h2><\/div><\/div>![\"null\"](\"https:\/\/www.franceangels.org\/wp-content\/uploads\/2025\/07\/3.png\"\/)
<\/div>Sourcing<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Preselection<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Presentation<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Due Diligence<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Closing<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Follow-up<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Exit<\/h3><\/div><\/div><\/div><\/li><\/ul><\/div>[\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1595341539930{background-color: #f5f5f5 !important;}”]<\/div>Types<\/h2><\/div>Networks of Business Angels are organized in three different ways:<\/span><\/div><\/div>- <\/i><\/div>
Geographical<\/h3>Their scope of actions is local, departmental, regional or national<\/span><\/p>\n<\/div><\/div><\/div><\/li>- <\/i><\/div>
Thematic<\/h3>They specialize in a specific activity sector (Health, ICT, Agri-food, Environment, Wood industry, etc.)<\/span><\/p>\n<\/div><\/div><\/div><\/li>- <\/i><\/div>
Affinity-based<\/h3>The alumni of colleges and higher education institutes (ESSEC, Polytechnique, Arts & M\u00e9tiers\u2026)<\/span><\/p>\n<\/div><\/div><\/div><\/li><\/ul><\/div>[\/vc_column][\/vc_row][vc_row css=”.vc_custom_1596105654895{margin-bottom: 30px !important;}”][vc_column width=”1\/2″]<\/div>Advantages<\/h2><\/div><\/div>[vc_column_text]Coming together in a local network, thematic or by sector, allows Business Angels to better organize themselves and to share experiences, decisions and investments.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_row_inner equal_height=”yes”][vc_column_inner width=”1\/2″ css=”.vc_custom_1596022358268{margin-top: 50px !important;}”]<\/div>01.<\/h2><\/div>EASIER & WIDER ACCESS<\/div><\/div>[vc_column_text css=”.vc_custom_1596023740483{margin-top: 30px !important;margin-bottom: 30px !important;}”]Access to more files, both interesting and original. A network is a regional point of attraction for entrepreneurs seeking funding[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″ css=”.vc_custom_1596022418231{margin-top: 50px !important;}”]<\/div>02.<\/h2><\/div>SKILLS & EXPERTISE<\/div><\/div>[vc_column_text css=”.vc_custom_1596023832751{margin-top: 30px !important;margin-bottom: 30px !important;}”]Sharing skills and expertise with other Business Angels allows to deal with more complex projects[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″]<\/div>03.<\/h2><\/div>ANALYSIS & STUDY<\/div><\/div>[vc_column_text css=”.vc_custom_1596024194445{margin-top: 30px !important;margin-bottom: 30px !important;}”]Dividing\u00a0the analysis and study of files between several Business Angels reduces the risk of error in judgment on projects and entrepreneurs[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″]<\/div>04.<\/h2><\/div>COMMON INVESTMENT<\/div><\/div>[vc_column_text css=”.vc_custom_1596024911828{margin-top: 30px !important;margin-bottom: 30px !important;}”]In the same project, which allows either to consider larger projects or to be able to invest in a greater number of projects while reducing individual risks[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1596021302481{background-color: #f5f5f5 !important;}”]<\/div>Networks directory<\/h2><\/div><\/div>[vc_column_text]<\/div>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]<\/div>How to create a network?<\/h2><\/div><\/div>[vc_column_text]The establishment of a network of Business Angels is very specific, in particular in a region, and has to be adapted to each particular case. France Angels offers its know-how and contacts to stimulate the creation of such a network. France Angels specifically uses a proven method: information day, public conference, technical support for the initial team.<\/span>[\/vc_column_text]
[\/vc_column_text][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” type=”vc_default” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1595341499509{padding-bottom: 50px !important;background-color: #f5f5f5 !important;}”]
Legal structures<\/h2><\/div><\/div>[vc_tabs interval=”0″ style=”tab-style-two” el_class=”onglets”][vc_tab title=”Associative” tab_id=”0efb6f33-4a2b-2″][vc_column_text]The associative networks are structures dedicated to bringing entrepreneurs \/ investors together. Generally, the structure organizes monthly meetings to present selected projects to an audience of potential investors. These networks are mainly used for projects requiring small amounts (often less than 200,000 euros). The Business Angel joins such a network by paying an annual fee. The network pools its expertise with the other network members and makes its own decision whether or not to invest in the projects presented.<\/span>[\/vc_column_text][\/vc_tab][vc_tab title=”Business Angels Investment Company (BAIC)” tab_id=”b6571edb-2e85-4″][vc_column_text]The establishment of these investment companies can meet two objectives<\/span>:<\/p>\n\n- Some Business Angels (especially in a small group, from 10 to 20 people) wish to remain “among themselves” without seeking strong regional visibility. They then agree to put their money in a “common pot”<\/span>.<\/li>\n
- Certain networks wish to acquire, in parallel with the associative structure, a BAIC allowing them to supplement the investments of individual Business Angels<\/span>.<\/li>\n<\/ul>\n
Creating an investment company requires strict operating rules (board of directors, chairman, etc.) and investment decision (investment committee). It imposes a fairly rigorous discipline on its members but is very effective in terms of quality and speed of decision as well as of investment capacity.<\/span><\/p>\nThere are 2 types of appropriate legal and fiscal structures<\/span>:<\/p>\n\n- The limited company \/ joint-stock company allowing in particular to benefit from reductions of the personal income tax and solidarity\u00a0tax on wealth during the investments of the holding company in eligible SMEs<\/span>,<\/li>\n
- The limited company \/ joint-stock company\u2019s “Venture Capital Company tax option” allowing in particular to benefit, when reselling the interests, from an exemption from capital gains<\/span>.<\/li>\n<\/ul>\n
[\/vc_column_text][\/vc_tab][vc_tab title=”Mixed organization” tab_id=”1595601507550-2-8″][vc_column_text]It is possible to create a mixed organization (Association + Investment company). More and more networks having experience with the associative structure or the Investment Company structure come to the conclusion that a double structure (whether or not the Business Angels are members of the two structures) has many advantages. The associative structure allows easier \u201cacculturation\u201d of new, less experienced Business Angels, various communication actions aimed at recruiting new members and systematic contact with entrepreneurs seeking funding. The Investment Company structure enhances organized collective decisions and it effectively brings together a larger number of Business Angels, both active and passive.<\/span>[\/vc_column_text][\/vc_tab][\/vc_tabs][\/vc_column][\/vc_row][vc_row type=”vc_default”][vc_column css=”.vc_custom_1498229445232{padding-bottom: 50px !important;}”]<\/div>Investment process<\/h2><\/div><\/div>- <\/div>
Sourcing<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Preselection<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Presentation<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Due Diligence<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Closing<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Follow-up<\/h3><\/div><\/div><\/div><\/li>- <\/div>
Exit<\/h3><\/div><\/div><\/div><\/li><\/ul><\/div>[\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1595341539930{background-color: #f5f5f5 !important;}”]<\/div>Types<\/h2><\/div>Networks of Business Angels are organized in three different ways:<\/span><\/div><\/div>- <\/i><\/div>
Geographical<\/h3>Their scope of actions is local, departmental, regional or national<\/span><\/p>\n<\/div><\/div><\/div><\/li>- <\/i><\/div>
Thematic<\/h3>They specialize in a specific activity sector (Health, ICT, Agri-food, Environment, Wood industry, etc.)<\/span><\/p>\n<\/div><\/div><\/div><\/li>- <\/i><\/div>
Affinity-based<\/h3>The alumni of colleges and higher education institutes (ESSEC, Polytechnique, Arts & M\u00e9tiers\u2026)<\/span><\/p>\n<\/div><\/div><\/div><\/li><\/ul><\/div>[\/vc_column][\/vc_row][vc_row css=”.vc_custom_1596105654895{margin-bottom: 30px !important;}”][vc_column width=”1\/2″]<\/div>Advantages<\/h2><\/div><\/div>[vc_column_text]Coming together in a local network, thematic or by sector, allows Business Angels to better organize themselves and to share experiences, decisions and investments.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_row_inner equal_height=”yes”][vc_column_inner width=”1\/2″ css=”.vc_custom_1596022358268{margin-top: 50px !important;}”]<\/div>01.<\/h2><\/div>EASIER & WIDER ACCESS<\/div><\/div>[vc_column_text css=”.vc_custom_1596023740483{margin-top: 30px !important;margin-bottom: 30px !important;}”]Access to more files, both interesting and original. A network is a regional point of attraction for entrepreneurs seeking funding[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″ css=”.vc_custom_1596022418231{margin-top: 50px !important;}”]<\/div>02.<\/h2><\/div>SKILLS & EXPERTISE<\/div><\/div>[vc_column_text css=”.vc_custom_1596023832751{margin-top: 30px !important;margin-bottom: 30px !important;}”]Sharing skills and expertise with other Business Angels allows to deal with more complex projects[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″]<\/div>03.<\/h2><\/div>ANALYSIS & STUDY<\/div><\/div>[vc_column_text css=”.vc_custom_1596024194445{margin-top: 30px !important;margin-bottom: 30px !important;}”]Dividing\u00a0the analysis and study of files between several Business Angels reduces the risk of error in judgment on projects and entrepreneurs[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″]<\/div>04.<\/h2><\/div>COMMON INVESTMENT<\/div><\/div>[vc_column_text css=”.vc_custom_1596024911828{margin-top: 30px !important;margin-bottom: 30px !important;}”]In the same project, which allows either to consider larger projects or to be able to invest in a greater number of projects while reducing individual risks[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” bg_color_value=”#f5f5f5″][vc_column css=”.vc_custom_1596021302481{background-color: #f5f5f5 !important;}”]<\/div>Networks directory<\/h2><\/div><\/div>[vc_column_text]<\/div>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]<\/div>How to create a network?<\/h2><\/div><\/div>[vc_column_text]The establishment of a network of Business Angels is very specific, in particular in a region, and has to be adapted to each particular case. France Angels offers its know-how and contacts to stimulate the creation of such a network. France Angels specifically uses a proven method: information day, public conference, technical support for the initial team.<\/span>[\/vc_column_text]
Creating an investment company requires strict operating rules (board of directors, chairman, etc.) and investment decision (investment committee). It imposes a fairly rigorous discipline on its members but is very effective in terms of quality and speed of decision as well as of investment capacity.<\/span><\/p>\n There are 2 types of appropriate legal and fiscal structures<\/span>:<\/p>\n [\/vc_column_text][\/vc_tab][vc_tab title=”Mixed organization” tab_id=”1595601507550-2-8″][vc_column_text]It is possible to create a mixed organization (Association + Investment company). More and more networks having experience with the associative structure or the Investment Company structure come to the conclusion that a double structure (whether or not the Business Angels are members of the two structures) has many advantages. The associative structure allows easier \u201cacculturation\u201d of new, less experienced Business Angels, various communication actions aimed at recruiting new members and systematic contact with entrepreneurs seeking funding. The Investment Company structure enhances organized collective decisions and it effectively brings together a larger number of Business Angels, both active and passive.<\/span>[\/vc_column_text][\/vc_tab][\/vc_tabs][\/vc_column][\/vc_row][vc_row type=”vc_default”][vc_column css=”.vc_custom_1498229445232{padding-bottom: 50px !important;}”] Their scope of actions is local, departmental, regional or national<\/span><\/p>\n<\/div><\/div> They specialize in a specific activity sector (Health, ICT, Agri-food, Environment, Wood industry, etc.)<\/span><\/p>\n<\/div><\/div> The alumni of colleges and higher education institutes (ESSEC, Polytechnique, Arts & M\u00e9tiers\u2026)<\/span><\/p>\n<\/div><\/div>\n
Investment process<\/h2><\/div><\/div>
<\/div>Sourcing<\/h3>
<\/div>Preselection<\/h3>
<\/div>Presentation<\/h3>
<\/div>Due Diligence<\/h3>
<\/div>Closing<\/h3>
<\/div>Follow-up<\/h3>
<\/div>Exit<\/h3>
Types<\/h2><\/div>
Geographical<\/h3>
Thematic<\/h3>
Affinity-based<\/h3>
Advantages<\/h2><\/div><\/div>[vc_column_text]Coming together in a local network, thematic or by sector, allows Business Angels to better organize themselves and to share experiences, decisions and investments.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_row_inner equal_height=”yes”][vc_column_inner width=”1\/2″ css=”.vc_custom_1596022358268{margin-top: 50px !important;}”]
01.<\/h2><\/div>
02.<\/h2><\/div>
03.<\/h2><\/div>
04.<\/h2><\/div>
Networks directory<\/h2><\/div><\/div>[vc_column_text]
How to create a network?<\/h2><\/div><\/div>[vc_column_text]The establishment of a network of Business Angels is very specific, in particular in a region, and has to be adapted to each particular case. France Angels offers its know-how and contacts to stimulate the creation of such a network. France Angels specifically uses a proven method: information day, public conference, technical support for the initial team.<\/span>[\/vc_column_text]