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 email@example.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.
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.