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 expectations simply don’t apply. 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 real estate, restaurants, retail, or funds. The Band invests in the range of $300K to $750K where the company’s overall pre-seed, seed, or bridge to a Series A raise is in the $500K to $2M range. The largest investment ever made by the Band was $3.3M in Sendmail in 1998. Valuation depends on many things but few companies successfully raise financing from the Band at valuations greater than $10M. To start the process, please complete this online application form.
REVIEW AND SELECTION PROCESS
The Band charges no fees from presenting companies. If you submit your investment opportunity 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 agtech, digital media, fintech, life science/medtech, hardtech, software, and energy. The committee reviews close to 50 deals 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 submitted materials (deck and the Band of Angels one-page template overview). The Deal Screening Committee selects 3 companies and a runner up, for presentation to the Band of Angels Deal Dinner.
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 Silicon Valley. 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. The Band meets monthly, except there are no presentation meetings in July when we hold the Band’s Annual Summer Party and there is also no meeting in December when we hold the Band’s Annual Holiday Party.
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 due diligence group of individual angels to be formed for the purpose of evaluating the company, negotiating a set of terms, and executing an investment. View the recent portfolio companies.