Applying for Angel FundingPart 1: An Angel’s Perspective

Jodi Collier@LaunchpadVG

Charlie Cameron@hubangels

Jennifer Rousseau Schwall

@TCNUpdate #TCNAngel

What are Angel Groups?

• Collections of Investors sharing deal flow and diligence

• Most comprise individual investors, some are funds

• Some have a specific focus••••

What are we looking for?

• High growth companies in a large market

• Great team

• “Unfair advantage”• Disruptive business model• Disruptive technology• Network effect• Green-field• Intellectual property

How do we invest?

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How do you find us?

Prior Investors Other Introductions Accelerators

Incubators Networking venues

Websites (useful ONLY when determining ‘fit’ & finding networking

leads)

What’s our process?

1. Prescreening & Screening

Referral is the key to entering the process

2. Pitching10-20 min presentations +

Q&A

3. Due DiligenceVaries between

groups & deal leads

4. Term Sheet Negotiation

This is setting a market price NOT a valuation

5. Syndication & Funding6. Repeat

Angel Groups: Pros & Cons

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Source: ACA

● Angel Investor Forum - East Hartford, CT

● Boston Harbor Angels - Boston, MA● Boynton Angels - Worcester, MA● Cherrystone Angel Group - Providence,

RI● Clean Energy Venture Group - Boston,

MA● CommonAngels - Lexington, MA● eCoast Angels - Portsmouth, NH● ECS Angels - Bar Harbor, ME● Edible Ventures Group - Boston, MA● Golden Seeds LLC - Boston, MA, New

York, NY and San Francisco, CA● HubAngels - Cambridge, MA

● Landmark Angels - Greenwich, CT● Launchpad Venture Group - Wellesley,

MA● Maine Angels - Portland, ME● Mass Medical Angels - Brookline, MA● North Country Angels - Burlington, VT● Ocean State Angels - Providence, RI● Pipeline Angels - Boston, MA● River Valley Investors - Springfield, MA● SideCar Angels - Wellesley, MA● TiE Angels - Boston - Boston, MA● Topstone Angels - Darien, CT● UMASS Lowell New Venture Fund -

Lowell, MA● Walnut Venture Associates - Wellesley

Hills, MA

Some Angel Groups In NE