{"id":6465,"date":"2026-09-09T22:55:12","date_gmt":"2026-09-09T20:55:12","guid":{"rendered":"https:\/\/www.norban.no\/?post_type=norban_kb&#038;p=6465"},"modified":"2026-10-13T09:08:51","modified_gmt":"2026-10-13T07:08:51","slug":"what-angel-investors-expect-in-return","status":"publish","type":"norban_kb","link":"https:\/\/www.norban.no\/no\/knowledge\/fundraising\/what-angel-investors-expect-in-return\/","title":{"rendered":"Hva er engleinvestorer, og hva forventer de tilbake?"},"content":{"rendered":"<p class=\"wp-block-paragraph translation-block\">En engleinvestor er en privatperson som investerer egne penger i et selskap i tidlig fase mot \u00e5 f\u00e5 aksjer. Gr\u00fcndere undervurderer ofte verdien av tiden, r\u00e5dene, erfaringen og nettverket som f\u00f8lger med investeringen.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Engleinvestorer investerer egne penger<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">En fondsforvalter investerer andres penger innenfor et mandat, vanligvis med en investeringskomit\u00e9 og en fastsatt levetid for fondet. En engleinvestor bruker egne penger og kan bestemme alene eller sammen med noen f\u00e5 andre, uten \u00e5 f\u00e5 et fonds godkjenning. Verv og avtaler kan likevel gi investoren plikter overfor andre.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Uten en investeringskomit\u00e9 kan avgj\u00f8relsen komme i l\u00f8pet av noen uker. Investoren har samtidig ingen plikt til \u00e5 investere pengene sine i \u00e5r. Et godt selskap er derfor ingen garanti for finansiering.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To engleinvestorer kan h\u00f8re samme pitch og komme til motsatt konklusjon, uten at noen av dem skylder deg en begrunnelse. Hold flere samtaler i gang. Ett avslag sier lite om hvordan andre vil reagere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">En engleinvestering trenger ikke v\u00e6re stor. I de europeiske nettverkene <a href=\"https:\/\/www.eban.org\/wp-content\/uploads\/2025\/12\/Stats-Compendium-2024.pdf\">EBAN<\/a> kartlegger, var gjennomsnittlig investering per engleinvestor per investering omtrent EUR 25\u00a0600 i 2024. Regn derfor med \u00e5 samle flere investorer, med en lead investor som koordinerer dem.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hva engleinvestoren kj\u00f8per: aksjer eller et konvertibelt l\u00e5n<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Finansieringsformen avgj\u00f8r n\u00e5r dere fastsetter selskapets verdi, og hvilke rettigheter investoren har frem til da. En emisjon eller et konvertibelt l\u00e5n etter aksjeloven kapittel 11 krever vedtak i generalforsamlingen. Styret kan ogs\u00e5 fatte vedtaket hvis det har en gyldig, registrert fullmakt som dekker det.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th><\/th><th>Aksjer<\/th><th>Konvertibelt l\u00e5n<\/th><\/tr><\/thead><tbody><tr><td>Hva investoren f\u00e5r n\u00e5<\/td><td>Eierskap, stemme- og utbytterett etter loven og aksjeklassen, og innf\u00f8ring i aksjeeierboken<\/td><td>Et krav etter l\u00e5neavtalen, med eventuell avtalt rente og rett til aksjer<\/td><\/tr><tr><td>Hva selskapet gir n\u00e5<\/td><td>En avtalt eierandel til en avtalt pris<\/td><td>Gjeld som kan vanne ut dagens eiere ved konvertering<\/td><\/tr><tr><td>N\u00e5r prisen fastsettes<\/td><td>N\u00e5, ut fra verdien f\u00f8r investeringen som dere forhandler om<\/td><td>Vanligvis i en senere runde der aksjekursen fastsettes, ofte med rabatt eller et tak p\u00e5 verdsettelsen<\/td><\/tr><tr><td>Selskapsrettslig grunnlag<\/td><td>En emisjon vedtatt av generalforsamlingen eller av styret med gyldig fullmakt<\/td><td class=\"translation-block\">Et l\u00e5n med <a href=\"https:\/\/lovdata.no\/lov\/1997-06-13-44\/\u00a711-1\">rett til \u00e5 kreve aksjer utstedt<\/a>, vedtatt av generalforsamlingen eller av styret med gyldig fullmakt<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Et konvertibelt l\u00e5n gir ikke i seg selv aksjon\u00e6rrettigheter. De f\u00f8lger med aksjene n\u00e5r l\u00e5net konverteres. L\u00e5ngiveren kan likevel ha rettigheter fra aksjer vedkommende allerede eier. Blir l\u00e5net tilbakebetalt i stedet, kommer det ingen ny aksjon\u00e6r inn. En emisjon, ogs\u00e5 ved konvertering, kan gi selskapet \u00e9n eller flere nye eiere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Menons <a href=\"https:\/\/www.menon.no\/wp-content\/uploads\/12f4494d01.pdf\">rapport fra 2010<\/a>, basert p\u00e5 norske registerdata, viste en gjennomsnittlig eierandel for engleinvestorer p\u00e5 18 % og en median p\u00e5 17 %. Bruk de historiske tallene som en pekepinn p\u00e5 st\u00f8rrelsesordenen, ikke som et m\u00e5l for din runde.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Pengene er den minste delen av tilbudet<\/h2>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">I seedfasen, eller s\u00e5kornfasen, kan relevant erfaring v\u00e6re vanskeligere \u00e5 finne enn penger. En god engleinvestor har l\u00f8st lignende problemer f\u00f8r, kjenner mulige kunder og ansatte og kan gj\u00f8re det lettere \u00e5 f\u00e5 kontakt med neste investor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Be konkret om hjelpen du trenger f\u00f8r du signerer, mens svarene fortsatt kan p\u00e5virke vilk\u00e5rene. Noter hva som blir lovet.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hvilke av problemene jeg st\u00e5r i n\u00e5, har du l\u00f8st i ditt eget selskap?<\/li>\n\n\n\n<li>Hvilke tre kunder eller mulige ansatte kan du introdusere meg for den f\u00f8rste m\u00e5neden?<\/li>\n\n\n\n<li>Hvor mange timer i m\u00e5neden regner du med \u00e5 bruke p\u00e5 dette, og til hva?<\/li>\n\n\n\n<li>Hvilke gr\u00fcndere i portef\u00f8ljen din kan jeg ringe, ogs\u00e5 en som har drevet et selskap som ikke lyktes?<\/li>\n\n\n\n<li>\u00d8nsker du styreplass, observat\u00f8rplass eller ingen av delene?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">En engleinvestor som ikke kan nevne \u00e9n eneste introduksjon, tilbyr bare kapital. Det er et rimelig tilbud hvis prisen gjenspeiler det.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hva engleinvestoren forventer av deg<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Avtal rapporteringen f\u00f8r du signerer, og skriv forpliktelsene inn i investeringsdokumentene. Send oppdateringer til faste tider, uten at investoren m\u00e5 purre. Ta med hvor mye penger selskapet har, hvor lenge de vil vare, inntekter, hvem som har begynt eller sluttet, og viktige endringer blant kundene.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En engleinvestor som f\u00e5r vite om tapet av en n\u00f8kkelkunde tre m\u00e5neder for sent, mister tillit til resten av det du har fortalt. Deler du nyheten samme dag som det skjer, kan dere jobbe med problemet sammen og f\u00e5 hjelp fra investorens nettverk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regn med at engleinvestoren vil ha innflytelse p\u00e5 store beslutninger, som nye emisjoner, endringer i styret og salg av selskapet. Noen vil \u00f8nske en styreplass. Det er et verv som inneb\u00e6rer arbeid og lovp\u00e5lagte plikter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Snakk om hvorvidt investoren forventer en exit p\u00e5 sikt, og hvordan det passer med planene dine. Vil du bygge en virksomhet du skal eie p\u00e5 ubestemt tid, trenger du en investor med avkastningsforventninger som passer til det.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hvor lenge skal investoren v\u00e6re med?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Planlegg for et langvarig eierskap. Fem til sju \u00e5r kan v\u00e6re et utgangspunkt, men noen investeringer varer kortere og andre langt lenger. Avklar n\u00e5r investoren h\u00e5per \u00e5 f\u00e5 pengene ut igjen, og hva dere forventer av senere kapitalrunder.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Eiertider for engleinvestorer <a href=\"https:\/\/teten.com\/how-long-before-angel-investors-and-vcs-get-liquidity\/\">sammenstilt fra forskningen<\/a> varierer fra omtrent 4,8 til 8 \u00e5r. De klassiske amerikanske dataene om engleavkastning viste at vellykkede investeringer ga rundt 2,9 ganger investert kapital over en gjennomsnittlig eiertid p\u00e5 5,8 \u00e5r. Engleinvestorer g\u00e5r inn tidligere enn fond, s\u00e5 legg et \u00e5r eller to til tall hentet fra fondsdata.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En vanlig aksjeinvestering gir ingen generell rett til tilbakebetaling neste \u00e5r, og det kan v\u00e6re vanskelig \u00e5 finne en kj\u00f8per til aksjene. Et konvertibelt l\u00e5n er annerledes: tilbakebetaling og konvertering f\u00f8lger l\u00e5nevilk\u00e5rene og loven.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Avtal hvordan investoren er tenkt \u00e5 f\u00e5 frigjort kapitalen. Utbytte, tilbakekj\u00f8p og kapitalnedsettelser kan gi utbetalinger n\u00e5r loven tillater det, men en vekstinvestor i tidlig fase vil ofte planlegge for et salg.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">I <a href=\"https:\/\/www.ssb.no\/statbank\/table\/10219\/\">SSBs historiske statistikk<\/a> var 43,8 % av norske aksjeselskaper stiftet i 2015 fortsatt i drift fem \u00e5r senere. Av selskapene stiftet i 2019 n\u00e5dde 60,8 % ett\u00e5rsdagen. Tallene gjelder ulike \u00e5rskull og ulike oppf\u00f8lgingsperioder.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Engleinvestoren h\u00e5per p\u00e5 stor gevinst, men risikerer \u00e5 tape hele investeringen. Det er en risiko investoren har valgt \u00e5 ta. Du trenger ikke pynte p\u00e5 tallene dine.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Slik investerer norske engleinvestorer<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">NorBANs investorer investerer ofte sammen i syndikater. De kan eie aksjer direkte hver for seg eller samle pengene i et eget investeringsselskap som investerer i oppstartsselskapet. Med et felles selskap f\u00e5r du \u00e9n aksjon\u00e6r i stedet for flere. I begge modellene kan en lead investor koordinere gruppen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">NorBAN publiserer <a href=\"https:\/\/www.norban.no\/no\/services\/get-funding\/how-angels-invest\/\">tall om hvordan medlemmene investerer<\/a>. Bruk dem n\u00e5r du bestemmer st\u00f8rrelsen p\u00e5 runden og bel\u00f8pet du ber hver investor om.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>De fleste enkeltinvesteringene ligger mellom NOK 0,5 og 2 millioner. Mindre investeringer som fyller opp runden, har en median p\u00e5 rundt NOK 100 000, mens medianen for de st\u00f8rre investeringene er rundt NOK 1 million.<\/li>\n\n\n\n<li>Engleinvestorer som investerer NOK 2 til 5 millioner eller mer, er et lite mindretall. Omtrent \u00e9n av seks kan v\u00e6re ankerinvestor eller lead investor i en runde.<\/li>\n\n\n\n<li>De fleste kan ha en aktiv eller passiv rolle, avhengig av selskapet, og omtrent \u00e9n av fem krever styreplass.<\/li>\n\n\n\n<li>F\u00e6rre enn en tredel har kapasitet til \u00e5 f\u00f8lge opp med mer kapital. Regn derfor med \u00e5 finne nye sentrale investorer til hver runde.<\/li>\n\n\n\n<li>De fleste tilbyr noe i tillegg til penger. Vanligst er teknologi og produkt, deretter driftserfaring som gr\u00fcnder eller fra en exit, s\u00e5 kommersielt arbeid og markedsintroduksjon, og til slutt \u00f8konomi og kapitalinnhenting.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Lead investor m\u00e5 kunne forklare investeringen for de andre uten at du er til stede. Gi vedkommende skriftlig materiale som er forst\u00e5elig p\u00e5 egen h\u00e5nd. Hva du b\u00f8r forberede, avhenger av hvor langt du har kommet i kapitalinnhentingen.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\"><strong>F\u00f8rste kapitalrunde.<\/strong> Referansesamtaler er s\u00e6rlig viktige fordi du ikke har egen erfaring med investorer. Sp\u00f8r gr\u00fcnderen som drev selskapet som mislyktes, hvordan engleinvestoren oppf\u00f8rte seg da nyhetene var d\u00e5rlige.<\/li>\n\n\n\n<li class=\"translation-block\"><strong>Ingen lead investor enn\u00e5.<\/strong> Sp\u00f8r hver engleinvestor f\u00f8rst om de kan ta den rollen. En som ikke kan, kjenner ofte noen som kan. Finn lead investor f\u00f8r du fyller runden. Ogs\u00e5 en runde med sm\u00e5 enkeltinvesteringer trenger noen som driver prosessen.<\/li>\n\n\n\n<li class=\"translation-block\"><strong>Lead investor er p\u00e5 plass.<\/strong> Gi vedkommende et skriftlig investeringsgrunnlag som kan leses uten at du forklarer det. Avtal hva dere ber hver av de andre om, og hvem som skal bidra aktivt.<\/li>\n\n\n\n<li class=\"translation-block\"><strong>Andre kapitalrunde.<\/strong> Tallene for hele nettverket sier ikke hvem blant dine aksjon\u00e6rer som kan investere mer. Sp\u00f8r tidlig hvem som vil f\u00f8lge opp, og be resten om introduksjoner. En ny engleinvestor kan ogs\u00e5 gi tilgang til nye kontakter. Sp\u00f8r hva vedkommende kan bidra med utover det dagens investorer tilbyr.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Vil du komme i kontakt med NorBAN, kan du <a href=\"https:\/\/www.norban.no\/no\/services\/get-funding\/\">sende inn selskapet ditt<\/a>. NorBAN deler det med investorene sine og arrangerer dealflow-samlinger der selskapene presenterer seg. Hver engleinvestor tar sin egen investeringsbeslutning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investorer som allerede er tilknyttet NorBAN, kan ogs\u00e5 ta med selskaper fra egen portef\u00f8lje til de m\u00e5nedlige engletreffene. En engleinvestor som allerede er aksjon\u00e6r hos deg, er derfor den beste veien til en personlig introduksjon. Begynn \u00e5 bygge den kontakten f\u00f8r du trenger kapital.<\/p>","protected":false},"excerpt":{"rendered":"<p>En engleinvestor investerer egne penger i selskapet ditt mot aksjer, og vil ofte bidra med erfaring og kontakter. Du f\u00e5r kapital og hjelp, men gir fra deg en del av eierskapet og m\u00e5 holde investoren orientert. Samarbeidet kan vare i mange \u00e5r.<\/p>","protected":false},"featured_media":7670,"template":"","meta":{"_tec_requires_first_save":true,"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"What angel investors expect in return","_yoast_wpseo_metadesc":"What a business angel is, what they buy with their own money, what they bring beyond capital, and what they expect back from a Norwegian founder in return.","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":" kl. ","_EventTimeRangeSeparator":"\u2013","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"_tribe_blocks_recurrence_rules":"","_tribe_blocks_recurrence_description":"","_tribe_blocks_recurrence_exclusions":"","kb_id":"STA-01","kb_level":"foundation","kb_standfirst":"An angel invests personal money in your company in exchange for shares, and usually wants to contribute experience as well. You gain funding and practical help, while giving up some ownership and taking on reporting obligations. The relationship can last for years.","kb_counterpart":"","kb_reviewer":"","kb_last_reviewed":"2026-09-02","kb_review_due":"2028-09-02","kb_norway":false,"kb_disclaimer":false,"kb_takeaways":["An angel invests their own money. Decisions are therefore personal, fast and unpredictable compared with a fund's.","You will give up a real minority stake. A 2010 Norwegian registry study put the average angel position at 18 per cent.","Angel money arrives with time, contacts and credibility attached. Ask for those explicitly before you sign.","In return the angel expects regular numbers, early bad news, a say in share issues and board changes, and a company run toward an exit.","Plan for a long holding period. Five to seven years is a planning assumption, not a minimum every investment will meet, and some holdings last much longer. Discuss the investor\u2019s expectations before the round."],"kb_assets":[],"kb_assets_planned":[],"kb_related":["STA-05","STA-02","STA-16"],"kb_terms":[{"en":"business angel","no":"forretningsengel","slug":"forretningsengel"},{"en":"convertible loan","no":"konvertibelt l\u00e5n","slug":"konvertibelt-lan"},{"en":"seed","no":"s\u00e5korn","slug":"sakorn"}],"kb_sources":[{"label":"NorBAN, Become an angel","url":"https:\/\/www.norban.no\/become-an-angel\/","accessed":"2026-09-02"},{"label":"NorBAN, About","url":"https:\/\/www.norban.no\/about\/","accessed":"2026-09-02"},{"label":"NorBAN, Get funding (for startups)","url":"https:\/\/www.norban.no\/services\/get-funding\/","accessed":"2026-09-02"},{"label":"EBAN Statistics Compendium 2024","url":"https:\/\/www.eban.org\/wp-content\/uploads\/2025\/12\/Stats-Compendium-2024.pdf","accessed":"2026-09-02"},{"label":"Menon Business Economics, Forretningsengler i Norge (2010)","url":"https:\/\/www.menon.no\/wp-content\/uploads\/12f4494d01.pdf","accessed":"2026-09-02"},{"label":"SSB, Statistikkbanken table 10219 \u2014 new enterprises by survival, industry and legal form (series last updated 13 September 2022)","url":"https:\/\/www.ssb.no\/statbank\/table\/10219\/","accessed":"2026-09-03"},{"label":"Aksjeloven \u00a7 11-1 (l\u00e5n med rett til \u00e5 kreve aksjer utstedt)","url":"https:\/\/lovdata.no\/lov\/1997-06-13-44","accessed":"2026-09-02"},{"label":"David Teten, How long before angel investors and VCs get liquidity (citing CB Insights, Morrissette and Wiltbank)","url":"https:\/\/teten.com\/how-long-before-angel-investors-and-vcs-get-liquidity\/","accessed":"2026-09-02"},{"label":"NorBAN, How angels invest","url":"https:\/\/www.norban.no\/services\/get-funding\/how-angels-invest\/","accessed":"2026-09-07"}],"footnotes":"","rank_math_title":"","rank_math_description":"","rank_math_focus_keyword":"","_dpc-meta-title":"","_dpc-meta-description":"","_dpc-keyword":""},"kb_track":[51],"kb_pillar":[62],"kb_access":[52],"kb_level_tax":[71],"kb_norway_tax":[],"class_list":["post-6465","norban_kb","type-norban_kb","status-publish","has-post-thumbnail","hentry","kb-access-free"],"kb_reading_time":8,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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