Top angel clubs and investment networks in Georgia

In recent years, Georgia’s startup ecosystem has gained international attention, alongside other smaller European countries, such as North Macedonia. Tbilisi, the capital of Georgia, has been emerging as the primary hub for startups, which primarily operate in transportation, FinTech, EdTech, and a few other sectors. Some of the most recent successful stories are Theneo, which raised $1.5 million from Byld Ventures and Y Combinator, and Humanode, which secured $12.76M; Egeekowl, with approximately $2.9M in funding.

In this context, angel investors and early-stage support organizations are becoming an important part of the funding landscape. In this article, we provide an overview of the most active angel groups and investors in the country, offer some insights from local organizations, and provide key points of contact for those seeking to connect with these networks.

1. Axel – Georgian Business Angel Network

Axel – Georgian Business Angel Network was launched in 2021 with a mission to supercharge Georgia’s tech startup ecosystem by facilitating “smart money” investments in the most promising local and international entrepreneurs. 

Since its founding, the network has seen over 200 startups pitch to its angels, invested more than 3 million Georgian Lari (₾), and earned recognition as the best-performing new member of the European Business Angels Network (EBAN) in 2023.

2. STAN - Science & Technology Angels Network

STAN - Science & Technology Angels Network is a global angel investor network launched in 2018 by FAST, now operating independently since 2023. Its mission is to support early-stage technology startups, particularly those rooted in Armenia but also emerging globally. 

Based in Armenia and Los Angeles, STAN’s investor base spans over 70% of California, 20% of Armenia, and 10% of Europe. STAN has backed around 25 deals, with total funding exceeding $1 million, and its team comprises approximately 40 angel investors across seven countries.

3. BANA Angels

BANA Angels is Armenia’s first and most active angel investor network, bringing together a diverse mix of investors, entrepreneurs, and executives from both Armenia and the global Armenian diaspora to back promising startup companies. 

Their members contribute not only capital but also expertise, experience, and industry connections to help fuel startup success.

4. AICA

‍AICA is a non-profit organization that supports Armenia’s startup ecosystem by bringing together experienced professionals, angel investors, entrepreneurs, and industry leaders to connect early-stage startups with funding and business expertise. 

The group operates through pitch sessions, held typically three to four times a year, in March, July, and October, where selected startups present their ideas to angel members for potential investment opportunities.

Stay connected! 

This article is part of a series that presents the top angel networks across Europe. Stay tuned as we continue to cover more European countries!