| Angel Investor Group Profile |
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From less than five angel groups in 1999, the number of Boston-based organizations have risen to 20 in 2006. Young entrepreneurs and private investors are taking humongous efforts not only in realizing their business potential and making significant financial returns but also in helping the regional economy achieve its much-awaited boost.
This development paved the way in the foundation of the Beacon Angels, a group of private investors, high net worth individuals, competent entrepreneurs, and business leaders that aims to support early-stage companies in the Northeast (New England) including Massachusetts, Vermont, Rhode Island, Maine, Connecticut, and New Hampshire. The group provides seed investment to help start-up ventures in achieving the initial milestones of their companies. In addition, network members offer professional mentoring and guidance in service development, deal sourcing, follow-on funding, market study, and management decisions.
Typical funding amount ranges from $100,000 to $300,000 based on the agreement made between the entrepreneur and the investors. As the group also establishes strong networks with other angel groups, venture capitalist firms, and business organizations, portfolio companies gain access to wide range of resources and opportunities to attract subsequent financing.
The Beacon Angels serves as a dynamic environment where members share their skills and professional experience with fellow investors who have similar objectives. Network members are given the privilege to invest in promising business ventures and gain investment opportunities to diversify their portfolio. In lieu of investing individually, the group operates collectively with shared capital, due diligence, and experience to foster relationships that will develop and upsurge business communities in the region.
Members meet every second Tuesday of the month to discuss the group's status, investment opportunities, and management plans. During this assembly, investors also screen business presentations from entrepreneurs who applied for investment. They provide feedback and suggestions on how the entrepreneur could further improve his proposal to attract funding. If majority of the members is interested in the potential of the company, due diligence will proceed and necessary documents are requested from the entrepreneur.
For New England entrepreneurs who are seeking seed capital to support their businesses, what follows is a rundown of Beacon Angels' funding criteria:
*Location. The group prefers early-stage companies within the Northeast region (including states mentioned above).
*Unique advantage. Beacon Angels values ventures with proprietary technology, patent, and intellectual property.
*Easy market entry and early market advantage.
*A compelling, well-articulated business plan that includes marketing strategies, financial projections, and product or service specifications.
*Pre-money valuation worth at least $10M.
*Enterprises that can attract follow-on funding from other angel groups and venture capitalists.
*An accountable and well-defined exit strategy.
The Beacon Angels only accepts summaries that are referred by network members and qualified third parties. For a list of members, their names and profiles are available on the group's website.
Beacon Angels Website
Since the Beacon Angels is relatively new in the angel investment industry, the articles included on the site is a bit limited but comprehensive. The information is sufficient enough to encourage entrepreneurs in considering investment application as well as private investors to apply for membership.
The Home page provides a concise description of the group's objectives, investment range, and the type of environment it fosters to its members and portfolio companies. In addition, the page includes assembly dates when Beacon Angels conducts its regular meeting to screen potential investments. Investors who are not a member of the group are also encouraged to attend as a guest with a specified fee.
The investment process is discussed briefly with clear, specific qualities of the type of ventures that the group invests in. In addition, the site includes the group's email address for feedback and inquiries.
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