General objective
The general objective of this assignment is to promote an investment culture and strengthen the skills of local angel investors in Moldova, enabling them to make informed, structured, and impactful early-stage investments.
Specific objectives
This assignment aims to strengthen Moldova’s early-stage investment landscape by developing and delivering a targeted capacity building program for local angel investors. The intervention will focus on the following objectives:
- Design a structured, staged training framework for angel investors, covering the full investment cycle – from deal sourcing and startup valuation to due diligence, term sheets, portfolio management, governance, and exit strategies. The framework will be informed by international best practices and adapted to Moldova’s legal, financial, and market context.
- Deliver the training in incremental phases, allowing knowledge to be built progressively. Between stages, participants will be encouraged to take practical steps – such as making actual investments or joining syndicates – to apply the concepts learned and reinforce experiential learning.
- Equip local investors with practical knowledge and applied skills to engage confidently in early-stage investment. The program will emphasize hands-on learning, peer exchange, and real-world case studies to build investor competence and strategic decision-making capacity.
- Foster a risk-tolerant and entrepreneurial investment mindset, shifting perceptions of startup investment from informal support or personal favour toward recognition of startups as a structured and high-potential asset class.
- Facilitate cross-border networking and collaboration with mature angel networks – from EU member states or Eastern Partnership countries, but also from countries on the path to EU integration or with comparable ecosystem development trajectories. These linkages will enable co-investment opportunities, peer learning, and regional investor syndication.
- Strengthen the institutional capacity of Business Angels Moldova, Mozaic and other relevant organisations to serve as sustainable platforms for investor education, community-building, and ongoing collaboration. This includes support for governance models, member services, and strategic outreach to new investor segments.
Description of the assignment
This assignment supports the development of Moldova’s early-stage investment ecosystem by delivering a targeted capacity building program for angel investors. The selected organization will be responsible for designing and implementing a staged learning approach that builds investor knowledge incrementally and encourages practical application throughout the program.
A core component of the assignment is the training of a small, carefully selected group of 10–12 local investors. These participants will not only benefit directly from the program but are also expected to serve as future multipliers – sharing knowledge, mentoring peers, and contributing to the growth of Moldova’s angel investing community.
The bidder is expected to propose a structured, multi-phase approach that includes a series of workshops combining theoretical lectures, hands-on activities, and case study analysis. The learning journey should be designed to progressively deepen participants’ understanding of the investment cycle, while motivating them to take concrete steps – such as evaluating real startups and making actual investments – between sessions.
In addition to group training, the bidder will provide tailored coaching to participating angel investors. This includes support in organizing pitching events with selected startups, advising on investment decisions and strategies, and guiding follow-up activities such as post-investment monitoring and portfolio management.