#100 - Interview with Ani Asatryan, Angel Investor with BANA Angels

00:00:00: At the World Economic Forum in Davos, we will meet Ani Azatrian.

00:00:04: Ani is an angel investor from Armenia.

00:00:07: Since two thousand eighteen she has invested in twelve startups and helps visionary founders in scaling companies globally and fostering innovation.

00:00:17: We'll talk about how she became an investor The challenges many start-ups face And the challenges of scaling

00:00:24: a company's

00:00:25: How smaller companies can benefit through AI technology.

00:00:29: Ani, it's so great to finally meet you here at the World Economic Forum in Davos.

00:00:35: How was your trip so far?

00:00:37: Thank-you!

00:00:38: It is an amazing trip and I came today for a tour of Davos but i did my trip with wonderful shadows.

00:00:47: So I'm happy to be here.

00:00:49: And Ani... You are professional investor from Armenia And maybe, can you tell us about Armenia?

00:00:58: I don't know anything about Armenia.

00:01:00: So what makes the country special?

00:01:02: Maybe tell our audience a little bit about Armenia please!

00:01:06: Yes thank-you for your question.

00:01:07: Armenia is very small country.

00:01:10: It's landlocked in Caucasus.

00:01:12: Our neighbors are Turkey Georgia Azerbaijan and Iran.

00:01:18: We do not have a sea.

00:01:20: It's make a little bit trouble for us, but as we say also opportunities.

00:01:27: People are very innovative and they're very well known for tech.

00:01:33: So big tech community.

00:01:35: there is wealth?

00:01:37: And what it like sort of the big topics.

00:01:39: I mean you all.

00:01:40: so begin to AI at moment.

00:01:43: Yes, I would like to go back in Soviet time.

00:01:46: In Soviet times Armenia was responsible for innovation and technology so we have already a history of background on making technologies even in Soviet time.

00:01:59: But nowadays, because we don't have much to export and we do not have a sea so we understand our opportunity is for digital products to be exported.

00:02:11: We need no cars or transportation means to export our product knowledge.

00:02:19: Before... Fifteen years ago, Armenia was more or less in outsourcing our knowledge to other product companies in the world.

00:02:29: But nowadays we have even unicorns which were born in Armenia and giving nice products to the world To enjoy technology And solve problems.

00:02:43: This is current situation and startup ecosystem started booming ten years ago

00:02:49: And you were actively involved there also as an investor.

00:02:53: How did he get into the whole investment field?

00:02:57: Yes, it's very interesting.

00:02:59: I was myself a startup founder and had the travel application but thanks God to my friends they give me good advice not to continue much because there is no obvious demand for this app.

00:03:14: And then i understand why not?

00:03:16: I might start learning about these through investing so that you can invest.

00:03:23: at the same time I started investing in startups and it was very interesting because i learned so much about different industries which would not be possible to get insider information from these companies.

00:03:41: And also,I met a very interesting people through our BANA Angel network that... I'm a member.

00:03:52: I met so many talented and creative, unsuccessful people there.

00:03:58: Interesting!

00:03:59: And for you as a woman is it do think different?

00:04:04: Like in Armenia like are our many women?

00:04:08: they also have similar positions like decision-makers in the economy.

00:04:14: what maybe you can elaborate on that little bit?

00:04:17: Yes, it's interesting that Armenia is doing perfect about giving high-level positions to women.

00:04:25: Even we have many ministers even the most man dominated industries like a defense or justice.

00:04:35: they are the ministers of woman also.

00:04:39: when I started investing in our club yes i was one of the early women who start investing in startups, but now we have many of them joining to cloud and I hope this is not a big issue.

00:04:55: It's it's no problem to be woman in these kind of industries in Armenia

00:05:01: And yourself.

00:05:02: do you invest more like locally local startups or are they maybe local ones who scale also globally?

00:05:09: Maybe can tell us about your investment approach?

00:05:13: Yes I want to say that Armenian startups, they always register in

00:05:20: U.S.,

00:05:21: the lever because of.

00:05:24: for future investments it's very important.

00:05:27: international investors should know the laws and like regulations which startup is connected.

00:05:35: so Armenians start-up founders always registered in the lever from first day.

00:05:43: I invest mainly Armenian startups, but also in French startup and I'm investing in Netherlands based VC fund.

00:05:52: So i believe on co-investment and bridge investment will bring the knowledge together to support startups better.

00:06:05: so you have an international approach.

00:06:08: do Yeah, guidelines when you see a company and then I'm going to invest like a certain pattern.

00:06:17: or let's say is there something that particularly interests?

00:06:25: Yes, it's very interesting approach.

00:06:28: how to do that?

00:06:30: because I'm a member of Angel Group.

00:06:32: The main flow is coming through the pipeline from Angel Group.

00:06:37: they do initial due diligence and more or less its like check up start-up.

00:06:44: then you have decided which industry are interested in.

00:06:54: believe that angel investment is not only about money, but also it's about the support.

00:07:01: How you can bring this start-up value and not only money?

00:07:07: So now all your money also supports knowledge in network for example.

00:07:12: Yes, for example imagine it is quantum computing startup and I'm not from this industry.

00:07:18: What value can bring to the start-up?

00:07:21: It can bring my network that i hope in future will be more international because Quantum Computing is so deep tech ,it's a difficult topic In the world.

00:07:33: maybe there are only two hundred people understanding really about these topics expert in every deep tech industry.

00:07:43: So I hope that my network is the main power to support other startups.

00:07:52: Ani, and you're now at The World Economic Forum?

00:07:55: What's your reason for being here in Switzerland?

00:07:58: I've been in September of a very nice event and everybody starts talking about Davos.

00:08:05: Are you coming to Davos?

00:08:07: Wow, can they come say yes!

00:08:09: Of course.

00:08:10: so it was interesting to understand what's going on.

00:08:15: this is my first time visiting here.

00:08:19: First

00:08:19: time at the web?

00:08:21: Yes, first time in a World Economic Forum and I have interesting events registered And i hope that we will meet angel investors from different parts of the world.

00:08:35: We can share our knowledge or network Our approach...I believe people should come together to find a powerful way To support startups better.

00:08:48: So alone sitting in Armenia or everybody they invest only in their local startups will not bring this overall power of growing innovation.

00:09:01: so I hope that i will meet fellows from different countries.

00:09:07: tell

00:09:08: us

00:09:08: about your exit.

00:09:10: you did an accident the past.

00:09:12: um tell us It

00:09:14: is an interesting story about a company who was doing cybersecurity and in the world.

00:09:25: there were huge problems of phishing.

00:09:31: Fishing emails?

00:09:32: My brother has this problem, somebody hacked his email.

00:09:39: They write all the friends' email and asking for money.

00:09:43: And my brother, he was in New York received a call from his friend.

00:09:49: He said is it enough?

00:09:50: Eight hundred dollars to send you.

00:09:52: Do we need

00:09:52: more?".

00:09:53: My brothers say no do not do that.

00:09:56: It's hacked my e-mail.

00:09:58: So personally I know this is real problem For me.

00:10:04: like support this startup and I invest with my friends in the startup, direct investment.

00:10:12: And they come up practical solution for these DMARC technologies they use.

00:10:20: and there was offered to exit the startup when U.S.-based, New York-based company VC wants to buy my shares.

00:10:32: And it was very comfortable because start up founders negotiate all of them deal with me.

00:10:38: I had nothing to do.

00:10:41: They come out nice offer that I was not able to reject.

00:10:50: So while they raised series A, I solved my...

00:10:55: And how long the process like from investment to exit?

00:10:58: Like how long is it period?

00:11:00: It's been three years!

00:11:02: Three

00:11:02: years you know.

00:11:03: so there wasn't a perfect exit right?

00:11:06: Yes and i'm told this as one of biggest exits in up to that time in Armenian startup ecosystem.

00:11:17: We did, uh... In three years, twenty X.

00:11:21: Twenty X?

00:11:22: Wow!

00:11:22: Very successful so and it is like can would you be able to repeat that as well in the future Like if you?

00:11:30: um Is that also a goal for you?

00:11:32: Actually, yes.

00:11:35: There are some startups doing extremely good but unfortunately the world doesn't know much about Armenia.

00:11:46: They will be very good start-ups and more unicorns in coming years And I'm sure there'll big events in Armenia supporting ecosystem.

00:12:02: international investors can come and participate in these events.

00:12:07: Yeah, so the future Amina is going to be on the map.

00:12:10: you have a great investment culture innovative companies tech companies to invest any.

00:12:17: with Bena angels your Investment Club You're doing a lot for the investment community in Armenia.

00:12:24: Maybe you could tell us about your current projects at the moment.

00:12:28: Yes, we started two years ago investing tours.

00:12:31: We call it and we invite investors all over the world to come participate in understanding what's going on this small country.

00:12:40: so October-May we have an investor tour by Bana Angels And there is also in October a big IT conference called Digitech.

00:12:54: Last year, we have about sixty investors from twelve countries to come to Armenia and they were pleasantly surprised at how Armenia is already doing very good.

00:13:07: In the tour, the investors can visit unicorns that we have – Pixar's service titan office cross-cultural and they meet each other from different countries.

00:13:24: Not only the border investments, yes also they met in Armenia with other country's investors not only local Armenians angel investors but they meet uh meet each Other in Armenia.

00:13:38: so

00:13:38: Amina a great place for the investment community The global investment community to a meat exchange And yeah built new ventures and companies.

00:13:48: Yes, this is our dream that we will be a nice spot for angel investors to come and meet each other.

00:13:58: And maybe co-invest together.

00:14:00: Can

00:14:00: you tell us about the AI factory being built now in Armenia at the moment?

00:14:05: It's one of the biggest news in Armenia.

00:14:09: We are extremely motivated because NVIDIA announced building AI factory, which will use the most innovative chips that they are going to use in this AI Factory.

00:14:24: It'll give the country... The best technology available and imagine startup ecosystem.

00:14:32: they can leverage, utilize all these technologies.

00:14:36: And not only Armenia but neighboring countries are going to use this technology so we can be the epicenter of the core of the technologies that will spread value in the world.

00:14:53: So NVIDIA is now a major company investing to boost Armenia and continue to build the economy.

00:15:01: That's really amazing, so what kind of effect is that going have also on Armenia if these big companies now are investing?

00:15:10: Also maybe for other industries?

00:15:13: Yes, of course it will be big construction and a lot new jobs will open.

00:15:19: And the overall knowledge of technology will rise.

00:15:22: because Armenia as I told you is landlocked country.

00:15:25: we can't export anything whatever produce, for example agriculture product.

00:15:32: It's difficult because there is not much transportation available but digital products are the products we can easily export it and help the economy to grow fast.

00:15:46: Thank you so much for the conversation, it's been a real pleasure.

00:15:49: I wish all of your bests and success nothing less!

00:15:53: And enjoy your time here

00:15:56: in Davos!