AIs within the building-products marketspace are typically entrepreneurs that:
- fund energy-related, substitution building products that are "green" or "clean"
- offer low-end initial rounds of funding
- between approximately five-hundred thousand and one-million dollars
- require pre-funding, proof-of-market through third-party validation of market research
- prefer to fund companies that produce technologies, which:
- are capable of competing in scalable markets that generate $millions annually
- expect to generate revenues of at least $5 million within first 5 years
- have a broad platform
- capable of generating multiple sources of revenue
- are legally defensible against competitors and imitators
- are currently managed by a fully-formed company
- must be open to extensive business input from AI staff
- require a return of at least 10 times the initial investment within the first 8 years
- prefer to sell their stake in a company within 8 years
For details, see for example http://angelcapitalassociation.org/.
U.S. Angel Networks
ACE-Net (The Angel Capital Electronic Network)
ACE-Net was developed by the U.S. Small Business Administration's Office of Advocacy. Only entrepreneurs who can sell security interest in their companies can enroll. There is an annual fee to enroll -- fees vary by state. Maximum fee is $450.
Sweet Spot:
Although companies can raise up to $5 million in financing with ACE-Net, the network may be most helpful to companies seeking up to $1 million.
No-Go:
Certain businesses cannot list on ACE-Net. These include businesses involved in the oil or gas industries, sole proprietorships, general or limited partnerships, joint ventures, and blank-check or development-stage companies.
Average investment range:
$250,000 to $5 million
Number of angels/investors in the network:
359
Contact:
To find your local operator go here
This fund is currently fully invested and not seeking new investments
Angels With Attitude has a committed pool of capital that they call an "active angel fund." They invest in geographic areas where they have members. That includes primarily the West Coast from Vancouver, BC, to San Diego and the East Coast from Boston to Washington, DC. Angels with Attitude invests in clean and renewable energy and conservation, environmental technology, clean and sustainable transportation, healthy and organic foods and natural products, and education -- all things that contribute to sustainability.
Sweet Spot:
Seed and early-stage ventures that are economically, environmentally and socially sustainable.
No-Go:
Don't send a complete business plan to them as your first step. Instead, E-mail an Executive Summary to the E-mail address below, and you will be notified if they want to take a look at your complete plan.
Average investment range:
$75,000 to $250,000
Number of angels/investors in the network:
25
Contact:
Angels With Attitude
Kristin Martinez
6541 36th Ave. SW
Seattle, WA 98126
206-932-3850
kristin@soundpointventures.com
Nonprofit national network of angel investors, foundation officers and entrepreneurs. Business that are reviewed by Investors' Circle members must fall into at least one of the following interest areas: community development, education, environment and energy, health, and women or minority-led business.
Sweet Spot:
Socially responsible deals.
Average investment range:
$10,000 to $6.5 million
Number of angels/investors in the network:
110+
Contact:
Investors' Circle
320 Washington St.
Brookline, MA 02445
617-566-2600
inbox@investorscircle.net
A group of Jewish industry leaders who invest in companies primarily in the United States and Israel. Operates as a business network and angel group. A select number of start-ups are selected for presentation to investors, and deals that do not qualify for presentation may still be eligible to network with investors and other businesspeople in the group. Currently has operations in Boston, California, Chicago, Connecticut, New York, and Israel.
Sweet Spot:
High tech and biotechnology.
Average investment range:
$50,000 to $1 million
Number of angels/investors in the network:
300+
Contact:
Paul Allen
San Francisco, CA
paul@tribeofangels.com
415-710-0801
Established in October 1996. A monthly meeting of private, high-net-worth investors that provide seed-level financing to start-up and early-stage firms. Since October 1996, the group has helped 87 companies find capital, including 14 in 2003 and 11 year-to-date in 2004.
Sweet Spot:
Invests in companies nationwide. Currently has investor groups based in Atlanta, Dallas, Hilton Head, Houston, Pebble Beach, San Francisco, Santa Fe, Scottsdale, and St. Louis. A group will launch in Naples, FL in October 2004 and another in Maui in November 2004.
Average investment range:
$200,000 to $1.5 million
Number of angels/investors in the network:
350
Contact:
Tarby Bryant
#4 Hawthorne Circle
Santa Fe, NM 87506
505-982-3050
tbryant@nm.net
Portland Area Angel Network
PAN will consider hearing presentations from companies based in Oregon and Clark County, Washington. The group meets quarterly to hear presentations from 3 to 4 selected companies. Companies wishing to be considered must go through the screening process. PAN is affiliated with the Oregon Entrepreneurs Forum, a nonprofit organization providing educational and networking opportunities to entrepreneurs, service providers, and investors.
Sweet Spot:
Companies in high-growth industries, with a clear exit strategy.
Average investment range:
$500,000 to $2,000,000
Number of angels/investors in the network:
100
Contact:
Portland Angel Network
c/o Oregon Entrepreneurs Forum
222 NW 5th Suite 308
Portland, OR 97209
503-222-2270
PAN@oef.org
Founded in 1997, the Alliance of Angels uses an online, members-only site to view business plans submitted by new technology companies. Selected companies have the opportunity to present their business plan to Alliance of Angels investor members at a monthly meeting. Companies must be headquartered in the Pacific Northwest, which includes Alaska, Idaho, Montana, Oregon, Washington, and lower British Columbia. There is no cost for the submission or screening of business plans.
Sweet Spot:
Companies that submit their plans must be in the early stage of growth (premezzanine round) and must be technology companies.
No-Go:
Business plans by snail mail are a no-go. Entrepreneurs must submit their plans via the Alliance of Angels online Web form.
Average investment range:
$25,000 to $1 million+
Number of angels/investors in the network:
140
Contact:
Alliance of Angels
1301 5th Ave.
Suite 2500
Seattle, WA 98101
206-389-7261
info@allianceofangels.com
Formed in 1999, Arizona Angels invest only in Arizona-based companies. They consider themselves very opportunistic and will consider deals that involve pre-VC equity, bridge loans, management buyouts, or acquisitions. To date, members have invested more than $3.5 million in six companies.
Sweet Spot:
High-growth companies beyond the seed or start-up stage that need capital to demonstrate a business proof of concept, in order to then attract venture capital or a strategic acquirer.
No-Go:
No real estate or mining companies need apply. Strongly prefer to be contacted via e-mail.
Average investment range:
$500,000 to $1.5 million
Number of angels/investors in the network:
100+
Contact:
Arizona Angels
Greg Cobb, Managing Director
2415 E. Camelback Road, Suite 700
Phoenix, AZ 85016
602-616-7833
gcobb@arizonaangels.com
Will consider start-up or early-stage technology companies in Arizona only.
Number of angels/investors in the network:
50+
Contact:
The Desert Angels
Jerry Sonenblick, President and CEO
1037 S. Alvernon
Tuscon, AZ 85711
520-977-8198
Tri-State Investment Group
Invests only in early- or mid-stage companies that are based in North Carolina, South Carolina, or Virginia. Since 1990, has invested $25 million in 40 companies.
Sweet Spot:
Information technology, telecommunications, biotechnology, and industrial technology.
Average investment range:
$150,000 to $500,000
Number of angels/investors in the network:
150
Contact:
Tri-State Investment Group
405 Tramore Drive
Chapel Hill, NC 27516
inbox@tignc.com
This fund is currently fully invested and not seeking new investments
WomenAngels.net is a group of women investors, but it's not required that companies be woman owned in order to apply for funding. The group meets monthly and primarily participates in the first institutional round of funding for companies based in Maryland, Virginia, and Washington, DC. WomenAngels.net has invested in companies in a variety of industries, including software, IT, biotech, and health care.
Sweet Spot:
Companies with high-tech component, an experienced and dedicated management and advisory team, and in a market where the company has the opportunity to become a leader.
No-Go:
WomenAngels.net does not invest in companies in the real estate or retail industries. They also do not invest in seed-stage or start-up companies.
Average investment range:
$250,00 to $750,000
Number of angels/investors in the network:
85
Contact:
WomenAngels.net
Kris McDevitt
1054 31st St.
NW Suite 110
Washington, DC 20007
202-342-1627
info@womenangels.net
Manages a group of active angel venture funds. The group oversees a collection of angel clubs that includes The Dinner Club, The eMedia Club, and The Washington Dinner Club.
Sweet Spot:
Early- and seed-stage technology companies. Companies must be based in Maryland, Virginia, or Washington, DC.
Average investment range:
$500,000 to $1 million
Contact:
New Vantage Group
John May, Managing Partner
402 Maple Ave. West
Vienna, VA 22180
703-255-4930
Walnut Venture Associates is a Boston-based group that focuses on information-technology companies. Group members have been the founders of 20 companies and the CEOs of more than 20 companies, have invested in more than 225 private companies, and have been members of the boards of directors of more than 125 companies.
Sweet Spot:
Seed- and early-stage companies in New England only. Prefer to have executive summaries sent to them via e-mail.
Average investment range:
$250,000 to $1,000,000
Number of angels/investors in the network:
16
Contact:
info@walnutventures.com
Named after the city's historic public meeting grounds, CommonAngels® is a group of 50 leading private investors and three dozen limited partners in our co-investment fund. Our members have founded, cofounded or run high-tech companies. Since 1998, we have worked closely with early stage software companies in the Northeast, funding 22 with over $25 million of our funds and $90 million from other investors.
Sweet Spot:
Early-stage software companies in the Northeast.
No-Go:
Prefer not to receive full business plans (or anything else for that matter) in hard copy. Send executive summaries by e-mail instead.
Average investment range:
$500,000 to $2 million
Number of angels/investors in the network:
50 private investors; three dozen limited partners
Contact:
CommonAngels
James Geshwiler, Managing Director
One Cranberry Hill, Suite 6
Lexington, MA 02421
781-274-9124
james@commonangels.com
Gould & Co.
Invests in companies based in the Northeast, preferably in New England.
Sweet Spot:
Companies that are emerging into large markets.
Average investment range:
$100,000 to $2 million
Number of angels/investors in the network:
400+
Contact:
Gould & Co.
86 Front St.
Merrimack, NH 03054
603-429-1631
gouldcapital@aol.com
Maine Angels was formed in 2003, and typical angel/venture capital returns without industry restrictions. They prefer to invest in companies with beta-tested products or lead customers.
Sweet Spot:
Have a preference for companies closer to home but are open on a case-by-case basis to syndication or collaboration regionally and nationally.
Average investment range:
$100,000 to $2 million
Number of angels/investors in network:
12
Contact:
Submit executive summaries to applications@mailangels.org; for general information e-mail info@maineangels.org.
In the past five years, Tri-State PIN members have invested in more than 50 start-up and early-stage companies. Businesses in which they have invested include Internet infrastructure software related to the gaming industry, mobile, wireless communication services for field service personnel, real estate, software, electronics manufacturing, microbreweries, theater, restaurants, and travel. Run by Ellen Sandles, founder and executive director, the group is based in New York.
Sweet Spot:
Early-stage companies from the Northeast through the Mid-Atlantic region.
No-Go:
Don't call or send snail mail. Send e-mail only, preferably straight from the website, where the application process is explained. Entrepreneurs who meet Tri-State PIN specifications are contacted by telephone; those who do not meet criteria are e-mailed an evaluation form with explanations, and if possible, recommendations to assist the entrepreneur.
Average investment range:
$500,000 to $2 million
Number of angels/investors in the network:
30
Contact:
For more information, please contact via the Tri-State PIN website, www.angelinvestorfunding.com
Invest in companies along the East Coast, ranging from New Hampshire to Pittsburgh, Baltimore, and the Washington, DC area.
Average investment range:
$20,000 to $250,000
Number of angels/investors in the network:
100+
Contact:
Silicon Garden Angels & Investors Network
Dan Conley
32 Cedar Brook Dr.
Somerset, NJ 08873-2854
732-873-1955
njangelsnet@aol.com
angels@njangels.net
TVAN angels invest in early-stage businesses in northeastern New York and adjacent western New England. Register and complete a business review form on the TVAN Web site for consideration.
Sweet Spot:
TVAN is interested in all types of businesses that demonstrate a good investment opportunity with a reasonable chance to succeed.
Average investment range:
$50,000 to $1 million
Number of angels/investors:
20+
Contact:
Tech Valley Angel Network
63 State Street
Albany, NY 12207
518-465-8975
info@techvalleyangels.com
Valley Angels Investment Group LL
Invests in companies in Illinois, Iowa, Minnesota, and Wisconsin.
Sweet Spot:
Science technologies, other technologies, manufacturing and processing.
Average investment range:
$500,000 to $1 million
Number of angels/investors in the network:
16
Contact:
Valley Angels Investment Group LLC
Richard Leazer
2215 South Oneida St., Suite 500
Green Bay, WI 54303
608-832-6365
contact@vaig.org
The Meyering Corp.
Sweet Spot:
Manufacturing technology and new patents.
Average investment range:
$250,000 to $1.5 million
Number of angels/investors in the network:
24
Contact:
The Meyering Corp.
20630 Harper Ave., Suite 103
Harper Woods, MI 48225
313-886-2333
Invests primarily in companies in Silicon Valley. Seeks out technology entrepreneurs focused on helping business "act faster, act smarter."
Sweet Spot:
Seed-round financing in companies with less than a $2.5-million valuation. Submit business ideas via the Web site. Brief executive summaries may be e-mailed.
Average investment range:
$50,000 to $1 million
Number of angels/investors in the network:
12
Contact:
Web site for application
ideas@fastangels.com
The Angels' Forum
Invests in companies based in the Silicon Valley and San Francisco Bay Area. Portfolio companies have come from a wide variety of industries, including consumer products, enterprise software, industrial products, Internet and E-commerce, medical devices and services, networking technologies, pharmaceutical, semiconductors, telecommunications, and wireless. Most start-up companies come to the group prescreened through professional contacts in the banking, investment, and legal fields.
Sweet Spot:
Companies specializing in disruptive technologies.
Average investment range:
$100,000 to $1 million
Number of angels/investors in the network:
25
Contact:
The Angels' Forum
PO Box 1605
Los Altos, CA 94023-1605
650-857-0700
inquiries@AngelsForum.com
One of the earliest angel networks, founded in 1994. Invests across all high-technology categories. The vast majority of investments have been made in the seed or early round (Series A or B). The group has placed $110 million into more than 140 start-up companies.
Sweet Spot:
Silicon Valley-based high-tech start-ups.
Average investment:
$1 million
Number of angels/investors in the network:
100
Contact:
Band of Angels
275 Middlefield Road
Menlo Park, CA 94025
info@bandangels.com
Preference for businesses located in Nevada, California, or other nearby locations. Looks for companies offering unique products with proprietary technology.
Sweet Spot:
Northern Sierra-based technology companies.
Average investment range:
$250,000 to $2,000,000
Contact:
Sierra Angels
PO Box 3215
Incline Village, NV 89450-3215
775-831-7804
Send e-mail to the most appropriate address:
04Software@sierraangels.com
04Computing_Communications@sierraangels.com
04HealthSciences@sierraangels.com
04Internet@sierraangels.com
04OtherTech@sierraangels.com
Invests only in Texas-based companies. Meets monthly in Austin during the spring and fall. The group is coordinated by the Capital Network.
Sweet Spot:
Early-stage companies in the high-tech sector.
Average investment range:
$500,000 to $2,500,000
Contact:
The Texas Angels
3925 West Braker Ln.
Suite 406
Austin, TX 78759
512-305-0840
angels@ati.utexas.edu
Has invested in 51 companies since 1995.
Sweet Spot:
Traditional companies with good technology and technology companies.
Investment range:
$10,000 to $3 million
Contact:
Network of Business Angels & Investors
Jerry Martin
3873 Roswell Rd.
Suite 4
Atlanta, Georgia 30342-4431
404-261-2434
nbai@bellsouth.net
Invests in wide range of industries, from seed through A-round financing. Will consider investing in Texas-based companies and companies willing to relocate to Houston from other states.
Sweet Spot:
Technology and life sciences.
Average investment range:
$500,000 to $2 million
Contact:
Houston Angel Network
Michelle Weisblatt, Managing Director
410 Pierce
Houston, TX 77002
832-476-9291
target="_blank"mweisblatt@houstonangelnetwork.org