| Angel Investor Group Profile |
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Founded in 2003, the Bluegrass Angels (BGA) is a group of private investors that supports early-stage companies in Kentucky by providing seed capital and professional guidance. BGA is looking for start-up companies with huge market potential and sustainable business growth to promote the progress of entrepreneurship in the Kentucky business sector. By financing start-ups, BGA provides opportunities by creating high-value jobs to speed up economic growth in the region. Aside from seed investment, the group also considers second-round and third-round funding for qualified companies. Furthermore, the group aims to commercialize the research being conducted by the University of Kentucky through the development and management of technology enterprises.
BGA provides an environment where private investors share experiences and expertise in business. The group focuses on technology-based and lifestyle companies as potential investments. In relation, typical funding ranges from $25,000 up to $500,000 based on the qualifications and responsibilities met by the entrepreneur.
Investments are done individually -- BGA members entrust their money on start-up companies which they think are commercially viable and can generate wide gross margins. These investors also expect an above-average financial return on their investments within a four to six-year period. On the other hand, the selection and due diligence process are managed as a group to facilitate promising investments. As the group values the development of research in the University of Kentucky, arrangements are made in support of the educational institution's needs regarding the start-up company's product or service. In addition, the organization has its separate investment capital for designated industries -- the BGA Angel Fund created in 2004.
Prospective members must be accredited investors who passed the requirements set forth by the Securities and Exchange Commission. After application or sponsorship from a BGA member, they undergo an election process wherein they must receive a majority of votes before finally getting a seat in the group. An annual membership fee of $1,000 are paid by BGA members to manage the company operations and events.
BGA's Investment Committee manages the crucial operations of the group. Aside from screening potential companies, members also build networks of regional angel groups, venture capitalist firms, and University research organizations to support the Bluegrass Angel Fund and their portfolio companies in deal sourcing and future rounds of funding. BGA members, armed with industry expertise and professional experience, provides management mentoring to guide successful entrepreneurs in achieving the initial milestones of their businesses. Not to mention that during business presentations, entrepreneurs are given coaching sessions on how to provide the gist of their business ideas without losing the essentials. This way, they can easily attract investments and professional help.
The organization's list of portfolio companies include Allylix, Mersive Technologies, Rental Houses.com, and Rhinocyte. These companies were also able to raise subsequent funding through the assistance of the Bluegrass Angels.
Bluegrass Angels Website
The Bluegrass Angels website is highly commendable. Aside from providing a concise overview of the organization, the site also explains why angel investing is advantageous among start-up companies. These articles are supported by resources and links to various sites that fully discuss the status of angel investment in the country as well as tips on how to attract investment from angel groups. In addition, interested entrepreneurs and investors are given a rundown on the specific objectives of the Bluegrass Angels as Kentucky's premier angel group.
The site map allows easier navigation to specific articles on membership requirements, investment guidelines, the Bluegrass Angel Fund, and the Bluegrass Angel Meeting Process. In addition, the Contact Info page provides a feedback form wherein suggestions, comments, and general inquiries are welcomed by the group.
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