“Biti poduzetnik znači živjeti nekoliko godina na način na koji nitko ne želi kako bi mogao provesti ostatak života na način na koji većina ne može.”
“To be an entrepreneur means to live a few years in a way that nobody wants in order to spend the rest of your life in a way that most can’t.”

About us

CRANE is a non-profit association which brings together private investors interested in investing in innovative companies in their early stages of development. CRANE is the main organization of business angels in Croatia and one of the strongest organisation in the Europe.
The association was founded in 2008 as a joint initiative of partner institutions Agency for Export and Investment Promotion, Poteza Ventures, Croatian Private Equity and Venture Capital Association, Association for promoting software and online entrepreneurship ‘Initium,’ and of successful entrepreneurs Damir Sabol and Hrvoje Prpić. Up until 2015, members of Crane have invested over 23 million kuna in Croatian companies.

Mission

We connect ambitious entrepreneurs with innovative projects and investors that will invest in them their money, expertise, skills and business contacts.

Vision

To become a recognizable source of funding early-stages innovative projects with the goal of creating a significant number of new entrepreneurs on their way to success.

Who are business angels?

Business angels are successful entrepreneurs and company/corporation leaders, funding high-risk start-up projects by acquiring ownership equity and helping further growth and commercialization of projects. They are informal individual investors who, with their business experience, advise young companies and entrepreneurs and help their future growth. The highest value of business angels is “smart financing” – offering their expertise, skills and business contacts. Business angels invest primarily in sectors they understand and in the region they are familiar with. Most common reasons for their investments are profit, entrepreneurship promotion, business activity, but also the fun of creating new values.

Criteria and selection process

Criteria for project selection and investment realization:

  • Quality of project description/business plan/presentation
  • Strong entrepreneur and high-quality team
  • Strong market potential of the project/product
  • Willingness to cooperate – willingness of the entrepreneur to include the business angel
  • Realistic evaluation of the project before the investment

Why CRANE?

Small and medium-size companies are the drivers of Croatian economy: they make up 99.4 % of all registered companies, employ 64.7 % of all the employees, generate 44 % of GDP and 40.5 % of export (Source: MINGORP, 2006). On the other hand, small and medium-size companies are facing the problem of covering the lack of capital, especially in the start-up phase, since the banks require collateral, and the venture capital funds strive to bigger investments in the later, less risky phase of business.

The business angels network will play an active role in securing capital for the early stages of projects, where the lack of capital is evident, as an alternative to placement by other means of funding, and thus promote the development of entrepreneurship.

Business angels network activities:

  • Identification of potential projects
  • Selection of quality projects according to the criteria for project selection and the investors’ interests
  • Organizing presentations of selected projects to the business angels
  • Organizing education for young entrepreneurs who want to start a business (selected through Angelsoft)
  • Organizing education for business angels
  • Helping investors during syndication of deals
  • Cooperation with EBAN – European Business Angels Network – network of business angels in Europe and the USA, and with venture capital/private equity funds in the region and in Europe
  • Cooperation with different partners, universities, institutions and companies that have an interest in the development of small and medium-size innovative entrepreneurship

Business angels network – CRANE

Croatian business angels network (CRANE) is a non-profit association which brings together business angels from Croatia and abroad interested in investing in projects. CRANE was founded as a joint initiative of partner institutions Agency for Export and Investment Promotion, Poteza Ventures, Croatian Private Equity and Venture Capital Association, Association for promoting software and online entrepreneurship ‘Initium,’ and of successful entrepreneurs Damir Sabol and Hrvoje Prpić.

CRANE is highly respected organisation and members of the CRANE are rated highly in the public life. CRANE is also member of numerous councils. We can highlight the fact that the President of CRANE, Davorin Stetner is representing CRANE in the Council for economic affairs of the Croatian President Kolinda Grabar – Kitarović.

CRANE’s business angels are informal individual investors that offer:

  • the know-how (technical and business knowledge, familiarity with certain industry, business contacts, etc.)
  • investments ranging from 25,000 to 250,000 euros (multiple investors – syndicated investment)

CRANE’s goals:

  • Promoting and developing innovative entrepreneurship in Croatia
  • Helping entrepreneurs in realization of innovative projects with international potential
  • Helping business angels in finding, selecting and realizing interesting projects

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