Band of Angels is Silicon Valley's oldest seed funding organization

We are a formal group of 150+ angel investors who are former and current high tech executives interested in investing their time and money into new, cutting edge, startup companies. We've seeded over 277 companies in our history with 55 profitable M&A exits and 10 IPOs. Band members have founded companies such as Symantec, Logitech, and National Semiconductor and have been senior executives at the likes of Sun Microsystems, Hewlett Packard, and Intuit.


The Band meets monthly to formally consider 3 startups selected from among the more than 50 that are screened each month by the Band deal selection process. Entrepreneurs can expect a thorough examination and, occasionally, an investment from some of Silicon Valley's most accomplished entrepreneurs. 

 

Accelerator Office Hours

Accelerator Office Hours

MENTORING

Most of the Band's investments receive mentoring and guidance from Band members. The industry-specific Special Interest Groups (SiGs) meet monthly, we regularly hold accelerator office hours, and Mentor Day is a key annual event where startups receive one-on-one mentoring.

Band of Angels Dinner Presenters

Band of Angels Dinner Presenters

INVESTMENT

The Band meets monthly to formally consider 3 startups selected from among more than 50 that are screened each month by the Deal Selection Process. Band members collaborate in the due diligence and invest as individuals. The Band has a sidecar fund, the Acorn Fund.

Band of Angels Dinner Reception

Band of Angels Dinner Reception

COMMUNITY

The Band works well because of the exclusive and experienced nature of its membership. Band members are generally successful high technology founders or executives, are accredited investors, and have an interest in mentoring and investing in high-risk startups. 


Over the past 10 years, the Band of Angels invested in both of my companies (Practice Fusion and iBeat). I have pitched hundreds of investors and found the Band to be more experienced, thoughtful, and effective than any other group.
— Ryan Howard, Founder Practice Fusion & iBeat

Giving innovation a chance!

There are many great programs that teach entrepreneurs how to be successful in raising venture capital – but Angels are not VCs and the same rules and expectations simply don’t apply. The odds of raising angel financing are higher than raising venture capital, and in some instances it may be all the financing you need. If you would like to learn more about presenting to the Band, please email deals@bandangels.com.

 

DEAL CRITERIA STATEMENT

The Band is primarily focused on seed stage high technology and life science companies with strong teams, proprietary technology, and big markets. We do not invest in consumer products, real estate, restaurants, retail, or funds. The Band invests in the range of $300K to $750K, but often leads a syndication of $1-1.5M. The largest investment ever made by the Band was $3.3M. Valuation depends on many things but few companies successfully raise financing from the Band at valuations greater than $10M. One of the initial criteria that we use to evaluate deals is location. Our preference is to invest in companies located in Northern California so that we can remain active with our portfolio throughout the early stages of development. To start the process, please complete this online application form.


REVIEW AND SELECTION PROCESS

The Band charges no fees from presenting companies, in fact, if you are invited to present at a Deal Dinner we host you as our guest. If you submit a plan for review to the Band it will be forwarded to a Pre-Screening Committee. This committee is made up of experts from every high tech category including digital media, fintech, life science/medtech, semiconductor, software, and telecommunications. The committee reviews close to 50 plans a month and selects 6 for an invitation to the Deal Screening, held on the last Wednesday of each month. There, 7 Band members (one from each major discipline) will ask you questions about the company for 15 minutes to better understand the printed material. The Deal Screening Committee selects 3 companies and a runner up, for presentation to the Band of Angels.


SELECTED COMPANIES PROCESS

The 3 selected companies present to the monthly Band of Angels Deal Dinner meeting held on the third Wednesday of the month in Los Altos and the "Second Look" Lunch held on the next day in San Francisco. In the two weeks between the Deal Screening selection and presentation at the Band meetings, the companies receive free value-added preparatory services to help refine both the written and oral presentations in preparation for the Band presentation. Typically 70 persons attend each Dinner and 40 persons attend the Second Look. Each company has 10 minutes to present followed by 5 minutes for Q&A. The Band meets monthly from January to November; there are no presentation meetings in December.


Follow-up

Band members invest directly; they collaborate in the due diligence but make individual investment decisions. Within a week of their presentation, most companies that present to the Band would have scheduled a follow up meeting with interested members to start due diligence. This also provides an opportunity for an organized syndicate of individual angels to be formed for the purpose of evaluating the company, negotiating a set of terms, and executing an investment. As an added value to the Band funded companies, the Band has partnership with Amazon Web Services (AWS) to provide any Band funded company with the same benefits given to companies in the Amazon AWS Activate program. View the recent portfolio companies.

Membership is by invitation only

Band members are generally successful high technology founders or executives, are accredited investors, and have an interest in mentoring and investing in high-risk startups. The Band works well because of the exclusive and experienced nature of its membership. The key advantages to the Band are improving your deal flow, having colleagues to share diligence and opinions, and distributing risk across a number of deals. A deal that garners investment from the Band gets much more than money. It gets the involvement of a group of individuals whose networks and experience can be much more valuable than their seed capital. Typically, every company that receives investment from the Band also gets a Band member to serve on the company's Board. If you would like to learn more about Band membership, please email investors@bandangels.com.


MEMBERSHIP PROCESS

Membership is by invitation only. Generally, one must be sponsored by a current member who knows the new member and can recommend them. Nevertheless, we do accept new members initially unknown to the group and all who fit the criteria and have an interest are encouraged to consider the group. Angel investors that are interested to apply for membership with the Band are invited to attend a Band Deal Dinner, Second Look Lunch, and a Special Interest Group (SiG) that is in the industry area of their expertise. View the calendar of upcoming meetings. The membership process includes completion of a Member Information Form and meeting with several members of the Membership Committee for informal conversations. These meetings are a great opportunity for prospective members to learn from the members about the Band process and their membership experience. It is readily apparent by all sides if a fit exists and, if so, an invitation is extended.


MEMBERSHIP REQUIREMENTS

As an indication of the background of some of our members, they have founded companies such as Cirrus Logic, Symantec, National Semiconductor and Logitech, and have been senior executive officers at top Silicon Valley companies including Sun, Hewlett Packard, Intel, 3Com, Oracle, SAP, Siebel Systems, and Intuit. The culture of the Band is to recognize that its members have led serious careers and can decide for themselves how best to use the opportunities made available through the Band. Hence, there are no firm performance criteria on the membership. Nevertheless, it is generally expected that members attend a third of the meetings, invest in one deal per year, help with diligence on potential investments, make their networks available to each other, keep confidential information confidential, and strive to maintain the Band’s conviviality.


MEMBERship BENEFITS

The Band provides its members enhanced deal flow, better due diligence, and the negotiating power of indirectly pooling capital. The group also provides a forum for fellowship of like minded successful people. Investing in seed stage companies is very risky. The Band brings together at one place and time some of the most successful people in Silicon Valley; folks who have walked the walk. By sharing their experiences and judgments the assessment of potential companies is quicker and more accurate. Each member is often a recognized source of capital in their own communities, so each brings to the Band a unique source of new deals.

 

Receive no risk feedback about the readiness of your venture for angel investment

 

Band of Angels, in partnership with the NASDAQ Entrepreneurial Center, is pleased to host a mentoring session for 50 companies interested in raising angel capital on May 2, 2017 in San Francisco. The session is open to companies in any sector or industry. Startups are invited to sign up for a 45-minute meeting with one or more Band mentors to receive no risk feedback about the readiness of their venture for angel investment. Apply here by April 21, 2017 . The Band will hold "Best of Mentor Day" followup meeting on May 10, 2017. Band member mentors can register here. For more information, please contact mentorday@bandangels.com.

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I thought it was fantastic. I am so greatful that Band put this event on and that you invited my company to participate. I felt it was super useful and the mentors with whom I was paired were great!
— Billy Dalto, Founder & CEO of 25hours (2016 Mentor Day)
Probably one of the most useful startup events I have ever attended. Everything was very direct and straight forward, and I felt the mentors were well matched to my business area.
— Daniel Loftus, Founder & CEO of UrbanFox (2016 Mentor Day)
Very well organized and useful event. Among the best I have attended.
— Stephen Broadbent, Co-Founder & CEO of Griti (2016 Mentor Day)