The business angels network Mer Angels, specialized in the maritime economy, was born in December 2017. Its founder, Pierre-Emmanuel Aubert, retraces the story for BoatIndustry and explains its objectives.
What path led you to found Mer Angels?
I know the field of investor networks well, having launched them a long time ago. In particular, I created a healthcare network, Angels Santé, 10 years ago, which has become the leader in France and is now becoming European. I was vice-president of the national federation France Angels. On the other hand, I know quite well the world of the sea, as a yachtsman and by being involved in the Société Nautique de la Trinité and within the UNCL. That's why I wanted to launch a network of private investors to allow start-ups to develop innovative projects related to the sea. The fields range from yachting to energy, including maritime transport and all coastal activities, worlds that cohabit and coexist without formal links. These activities are bound to develop since by 2050, with a variable extent depending on the source, all research institutes expect a migration of population to the coast. Mer Angels was thus born in December 2017.
How does Mer Angels fit into the existing networks and what potential do you see in it?
I didn't want to create another network of associations. Mer Angels depends directly on France Angels and business angels can join the group directly or through the member networks of France Angels. There are an estimated 75 business angels networks in France today, generally local, or from former students of a business school, or linked to a specific sector of activity. This represents between 5,000 and 20,000 business angels. The range is wide because some do not invest every year. Today, at least 2,000 of them may be interested in the sea and probably 80% to 100% of those installed on the coast. We therefore estimate that Mer Angels will eventually have between 3,000 and 5,000 potential investors. Currently, about a hundred are identified and referenced.
How does Mer Angels' selection of start-up files work?
Initially, the entrepreneur submits his project on the Mer Angels internet platform. Only the members of the network can see it. The business angels have between 3 and 4 months to position themselves. One of the interested business angels examines the file, then a commission selects the projects that can be presented by the entrepreneur to our members. This takes place during quarterly evenings during which the start-ups present their project for 6 minutes, before a question and answer session of about 2 to 4 minutes. Interested business angels can then contact the entrepreneur.
What have been the key actions of Mer Angels since its creation and what are its future missions?
We have already raised funds for leading companies, such as the most important one, Hemarina, in marine biology. In the nautical sector, we can mention Avel Robotics and Easy To Fly, which have raised ?1 million in one year, and Le Cargo, which has raised ?300-500 million. What is positive is that we are starting to have co-investments with investment funds or the BPI. Our objective is to make our projects known to as many investors as possible and to promote the sea sector in relation to other sectors. We will continue to organize highlights such as the presentation at the Nautic and work on finding suitable premises for our plenary meetings which are gathering more and more people!
