Band of Angels (company)

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 works well because of the exclusive and experienced nature of its membership The members are generally successful high technology founders or executives that are interested in investing in high-risk startups

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 If you would like to learn more about presenting to the Band, please email deals@bandangels com

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, but often leads a syndication of $1-1 5M 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 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 agtech, digital media, fintech, life science/medtech, hardtech, software, and energy 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

The 3 selected companies present to the monthly Band of Angels Deal Dinner meeting held on the second Wednesday of the month in Los Altos 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 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 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

Membership is by invitation

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 BandHQ@bandangels com

Membership in the Band is by invitation 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 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

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

Each year, Band of Angels organizes an annual mentoring session for startups interested in raising Angel capital Mentor Day 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 of Angels mentors to receive no-risk feedback about the readiness of their venture for Angel investment

Who is this event for? Mentor Day is for startup founders considering raising Angel capital

Format: Private one-on-one meeting between a startup founder and one or more Band of Angels members Concurrently, Hanson Bridgett attorneys will hold mentoring sessions on legal topics