Founded in 1994, the Band of Angels is Silicon Valley's foremost angel investment group that represents more than 100 executives and elite entrepreneurs in the industry. The Band invests their $50M venture fund in every high technology sector in the industry that includes telecommunications, semiconductors, biotechnology, software and hardware applications, electronics, and Web services. The primary goal of the fund is to create a balance between each sector of the high-tech industry. In addition, the group does not only provide start-up companies their initial seed capital but also privileged to have expert advisers to support their business.
Johannes Severiens, the Band's founder, forged friendships with some of the first and successful entrepreneurs in Silicon Valley, gathered all of them, created a pool of high-tech experts, and decided to invest their capital funds to support start-ups. These entrepreneurs were founders and executives of huge companies such as Logitech, Hewlett-Packard, Intuit, National Semiconductor, Sun Microsystems, and Symantec. From the 12 founding executives to the 110 entrepreneur members the Band has today, the group meets every month to screen start-up companies qualified for investment. The selection process determines the approval of a start-up for angel financing and consequently, the submission of requirements and references. In addition, initial investment offer ranges from $300,000 up to $750,000 and leads to $3M at most of total commitments depending on the company's performance from the start of investment.
The Band's track record boasts of enormous figures and huge sums. The group had already invested approximately $117M into 194 companies; nine of which were successfully sold in initial public offerings (IPO) that include PortalPlayer, Genitope Corporation, Cepheid, Digital Think, Neoforma, Keynote, Wit Capital, Cytyc, and Notify Technology; and 33 companies merged or acquires for a profitable gain such as AirZip, Inc., JobFlash, QuickSilver Group, Virtual Silicon Technology, Inc., and SafeView. Furthermore, the Band's cumulative internal rate of return (IRR), which is the determinant of project growth, is a whooping +18%. The highly positive rate, including the losses incurred, shows the competence of the Band in finding a potential market blockbuster among start-up companies.
Band of Angels' Website
The Band of Angels' website soars with excellence in its field -- a great source of valuable information and user-friendly services that any angel investment seeker shall consider an application for financing.
From company history, track record, and present milestones to services offered to aspiring start-up companies, the articles on the site are highly informative and satisfying. The site's use of graphs to present its areas of expertise efficiently weaves with the fluidity of articles. The summary of the Band's overwhelming milestones after 13 years helps any reader to understand the company profile easily. Likewise, its substantial text provides a thorough and extensive analysis of the Band's vision in helping high technology sectors in the industry by funding start-up companies and providing expert advice to fellow entrepreneurs.
The site has efficiently divided its services to categories: members, entrepreneurs, portfolio, the Band of Angels team, FAQ page, and contact information.
The FAQ page lists essential questions that start-up entrepreneurs might ask regarding angel investment. Same goes with the membership requirements, the selection process, the Deal Screening Committee meeting, investment criteria, and general questions that include Band history, fund operation, and financial values. In addition, the site sends monthly newsletters to interested parties about the Band's current deals upon request.
Furthermore, the contact information page includes specific email addresses for different questions such as general inquiries, press releases, and request for invitation to business events. What's impressive is that the page also has a detailed map, for interested parties who wish to personally visit their main office.
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