Axel Angels Joins the Global Business Angels Network
With over 80 angels in the network, Axel's mission is to accelerate the development of Georgia’s tech startup ecosystem by facilitating investments in the most promising Georgian and foreign entrepreneurs.
7 Aug 2023

Tbilisi, Georgia - The Global Business Angels Network (GBAN) is pleased to announce the inclusion of Axel - Georgian Business Angels Network into its ever-expanding global community of early-stage investor networks.

GBAN, a thriving part of the Global Entrepreneurship Network, boasts over 80 members, offering regular mentorship, training, and support. These efforts are aimed at enhancing investor capacity, influencing regulatory issues, encouraging cross-border investing, and removing investment barriers.

“We're excited to welcome Axel to GBAN, especially considering Georgia's emerging status as a market of startups. Axel's commitment to expanding angel investing in the region aligns perfectly with our global vision,” stated Jonathan Ortmans, President of the Global Entrepreneurship Network and Board Director at GBAN.

Axel, led by Managing Director Iro Tsagareishvili, aims to accelerate the development of Georgia’s tech startup ecosystem by facilitating Smart Money investments in promising Georgian and foreign entrepreneurs. In just two years, Axel's membership has grown from 25 to 80, reflecting a rapid 40% increase in deal flow over the last year.

“By joining GBAN, Axel, our members, and our portfolio startups can connect with a diverse range of angel investors and entrepreneurs, allowing us to expand our network and explore potential investment opportunities in different markets," said Tsagareishvili. "We aim to leverage GBAN's international presence to promote Georgia's startup ecosystem globally.”

Axel is committed to actively utilizing GBAN's resources and playing a pivotal role in promoting GBAN initiatives within Georgia. They are focused on increasing their investment portfolio, financing more startups, and putting Georgia's angel investment culture and startups on the world map.

Georgia and the Caucasus region have shown promising growth in innovative startups across various sectors. While the startup scene is gaining momentum, access to early-stage funding remains a challenge. Axel is recognized for playing a crucial role in bridging this funding gap, offering capital, mentorship, and expertise to promising startups.

GBAN is led by a global board of directors with members based across Africa, North America, Asia, Europe, and Latin America. It meets virtually on a monthly basis and in person annually. The next GBAN Annual Summit will take place in Melbourne, Australia, at the Global Entrepreneurship Congress in September 2023.

About the Global Entrepreneurship Network

The Global Entrepreneurship Network operates projects and programs in 180 countries, aimed at making it easier for anyone, anywhere to start and scale a business. By fostering collaboration and initiatives between entrepreneurs, investors, researchers, policymakers, and entrepreneurial support organizations, GEN fuels healthier ecosystems that create more jobs, educate individuals, accelerate innovation, and strengthen economic growth. For more information, visit

Pauly Suchy

Director for Startup Programs | Global Entrepreneurship Network
As the Director for Startup Programs at the Global Entrepreneurship Network, I oversee activities at the Global Business Angels Network, Startup… More

Guri Koiava

Co-founder & Managing Partner | Axel - Georgian Business Angel Network