We are thrilled to announce the launch of Ada’s first European Angel programme with the launch of Ada’s Angel programme in Denmark — Apply Now

Xun Ning Choong
Ada Ventures
Published in
6 min readMar 18, 2024

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In October 2020, we launched the Ada Angels programme, where we financially empowered individuals from our Ada Scout network to make angel investments. Two cohorts in, the programme has proved hugely successful. We are now pleased to announce that we’re taking the Ada Angels programme to Denmark.

We are looking for up to 10 Angels based in Denmark who will be given access to a pot of up to kr.7M to invest in exciting new startups. It’s all part of further strengthening our existing ties to the Danish and wider Nordic tech community.

Just like the programme in the UK, the Ada Angels initiative will work to diversify the angel investing community in Denmark. We do this by providing training and capital to those otherwise prevented from investing due to economic or social barriers. The Angels will be encouraged and supported to seek out extraordinary startup talent, helping to diversify the range of startups receiving investment across Denmark. This is all part of our Inclusive Alpha® approach and our belief that backing game-changing, commercially successful ideas and founders can coexist with a commitment to inclusion.

Applications to become one of the inaugural Ada Angels in Denmark are now open.

The first step to becoming an Ada Angel is to fill in this form here.

Those who are successful will be given the opportunity to invest in individual startups building game-changing solutions across economic empowerment, healthy ageing and climate equity (kr200,000 per cheque). Each Angel can make up to five investments during their year-long membership of the programme. The startups they choose to back must be Denmark-based, but have a strong link to the UK. For more about our areas of interest and what kind of start-ups we support, visit our Fund II thesis.

In the UK, this programme has proved extremely effective in championing a new generation of Angel investors and diverse founders. The UK version includes a 20-strong cohort of Ada Angels who each have access to an investment pot of up to £50,000. 30% of our investments from Fund I and Fund II to date have been sourced through the Ada Angels or Ada Scout network. This includes sourcing 10x more women founded teams and 6x more all-Black teams compared to UK industry averages.

In both Denmark and the UK, we want the Ada Angel programme to accomplish three main objectives:

1. Diversify the angel investing community locally. Provide training & capital to people who would otherwise not be able to angel invest due to economic, social or other barriers.

2. Increase the diversity of our pipeline with high quality founders, focusing on our three sectors: economic empowerment, healthy ageing and climate equity — in Denmark and in the UK.

3. Build a network of experienced, scale-up operators who can act as advisors and mentors to Ada Ventures and our portfolio.

The successful applicants to the programme will be unveiled at the StartUp Aarhus Townhall in May. Progress on the programme will be shared with attendees at TechBBQ in September.

Key facts about the programme:

  • Cohort size: up to 10 Danish Ada Angels.
  • Total pool of capital available: up to £800,000 (approx kr 7m)

The pool will be available for the cohort Danish Ada Angels to invest from on a first come first serve basis, with cheques of 200,000 DKK (approx £20,000) per investment / company.

As a guideline, each Danish Ada Angel will be expected to make three investments over 12 months. As a rule, each Angel can make a maximum of five investments.

Each investment will need to be in a company that has a strong link back to the UK. We will work with the Ada Angel to determine how this applies for each company they invest into.

Criteria to become an Ada Angel in Denmark:

  • Be an individual based in Denmark — we are keen to hear from all potential applicants across Denmark, including applicants from outside the main cities in Denmark
  • Have access to high quality, early stage tech founders in Denmark, ideally across our three themes
  • Have access to an active network/community of underrepresented founders in Denmark
  • Be aligned with the Ada Ventures values and code of conduct
  • Be mission aligned with Inclusive Alpha®

Application process

  • Initial application will be through an online form — applications are open now (March 19th) and will close on 7 April 2024 at 11:59pm CET.
  • We will aim to get back to all applicants by 15 April 2024, if not before.
  • Each application will be scored against a predefined framework and a shortlist selected from the highest scorers based on the criteria above.
  • Initial online interviews are targeted to be held on 15–19 April.
  • In person interviews to be held in Denmark (Copenhagen) on 23 to 26 April
  • Final acceptances expected to be issued by 30 April.
  • In person training in Copenhagen in w/c 20–24 May (date TBC — 0.5–1 day)
  • 23 May: In person launch event in Aarhus, 4pm to 11.30pm CET
  • End May / Early June: Start investing. Program runs for 12 months from this date.
  • 11 and 12 September: Angel and Founder event at TechBBQ in Copenhagen

*Please note that as part of the application form, we will include a diversity survey at the end of the form. This will ask for sensitive personal data relating to your gender, age, ethnicity/race etc. — and is entirely optional. The answers you provide for this section of the form will NOT be used to make any selection decisions and will only be used to analyse the diversity of the applicants to the program, to help us measure our progress towards our stated mission of finding and funding underrepresented Ada Angels and founders. There will be a ‘prefer not to say’ option for every question, and you are given opportunity to choose not to complete this section of the form when you apply. More details can be found on the application form here. A summary of the questions asked on the form can be found here and our Privacy Notice for this application process can be found here. The Privacy Notice sets out why and how we are processing your data, including sensitive personal data.

Commitments of an Ada Angel

As an Ada Angel, you commit to:

  • Being part of the programme, and Ada Angel community, for around 12 months from May / June 2024.
  • Learning about angel investment, building on (any) investment experience. No experience is necessary prior to the program.
  • Sourcing, analysing and advocating for your selected investment companies to Ada Ventures.
  • Managing your own dealflow and portfolio (with our support!).
  • Occasionally representing Ada Ventures at events and in the media.
  • Becoming an Ada Ventures Scout. As an Ada Ventures Scout, you will have the opportunity to refer companies to us directly (outside of the angel programme). If the fund invests into a company you have referred to us, you will receive a £5k finder’s fee plus a share of carried interest generated by this investment.
  • We expect everyone who works with Ada Ventures to abide by our code of conduct. Our values are also set out here.
  • Being an angel investor exclusively for Ada Ventures and not another VC fund, unless otherwise agreed with us.

Thank you to the organisations who are supporting us in the launch and delivery of the Danish Ada Angels programme, including: the Danish Growth Fund, TechBBQ, Startup Aarhus and Unconventional Ventures.

The below articles may be helpful if you’d like to know more about Ada Ventures, or want to learn more about venture capital and angel investing:

Venture is not the only option — alternative funding types outside of VC (including angel investing)

A guide to angel investors — to help companies find angel investors

Questions to ask angel investors before taking their £££

Ada Ventures thesis

Seed Investing Framework

Inclusive Alpha® Movement

If you’re keen to join the Danish Ada Angel program, the first step is to fill in this form here. Look forward to hearing from you!

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