The First Lebanese Women Angel Fund LWAF is Up and Running!
Although seen as a model for educated and ambitious women in the Arab world, Lebanese women are far from achieving their full potential in the business world. Clear figures demonstrate the imbalance between women and men in Lebanon when it comes to entrepreneurship, with only 15% of Lebanese women being employers or self-employed[1], while the rate rises to 42% for men. One major factor is the fear among women starting up a business from pitching in front of intimidating high-powered business men who dominate the funding industry. Additionally, and despite the existence of sporadic initiatives bringing together professional women to develop competencies and skills, Lebanon has not yet seen the creation of any program focused on preparing and educating women to become qualified angel investors, who are individuals that invest directly in early-stage high-risk businesses and base their investment decision upon the business idea and the qualification of the management team. The link between the two above-described gaps exists in getting more women on the investing side, which would ultimately invest in women entrepreneurs. In light of the above, IM Capital, and in partnership with the Lebanese League for Women in Business (LLWB), is seeking to address women’s integration in business by engaging women in the funding space on the one hand, and encouraging women entrepreneurs on the other, creating funding opportunities by women and for women. The combined efforts came in the form of creation of the Lebanese Women Angel Fund (LWAF), an impact program redefining the role of women in business beyond social and economic boundaries, empowering women to become seed investors.
LWAF will gather a maximum of 35 women in a class and take them through a ‘learn & earn’ methodology consisting of education and investment. Education wise, enrolled women will enhance their know-how through training opportunities via a curriculum covering all aspects of angel investing, delivered via educational videos, webinars, and in-person sessions by international expert business angels and coaches from Go Beyond Investing. Training topics will include early-stage investing overview, investor portfolio returns and liquidity, company valuation, deal terms, financials, due diligence, impact investing, investing strategy, follow-on rounds, and exit investments. Investment wise, and so as to democratize angel investing and make it accessible to women from all walks of life, multiples of $5K entry tickets would be pooled from every participant and placed into a Special Purpose Vehicle (SPV) with investment tickets in a range of $50K-100K. LWAF also has an education track to benefit Women Entrepreneurs. Female business owners will be pre-screened and prepared to pitch in investment meetings organized every 6-8 weeks, whereby 3 to 4 female entrepreneurs will present their businesses. By the end of the year, 3 to 4 investments would be made using a portfolio investment approach.
The first informal meeting was held on May 16, 2017, at Antwork in Spears, gathering 15 women for an introductory session by Mrs. Brigitte Baumann, Founder of Go Beyond Investing. The introduction was followed by two pitches by ambitious ladies, one of which received majority votes to proceed into due diligence. The next meeting is scheduled for July 6, 2017, and the official launch of the fund will take place on July 7, 2017. [1] http://www.al-monitor.com/pulse/culture/2014/05/women-lebanon-employment-entrepreneurs.html
