| Angel Investor Group Profile |
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Tenex Medical, Inc. aims to provide a forum for professional investors to meet start-up entrepreneurs with brilliant business ideas in life science industries. The group is primarily comprised of Silicon Valley senior executives who support early-stage companies by seed capital investment and counseling through expert advice. Tenex members consider start-up companies that focus on products and services in medical devices, clinical diagnostics, research products, biotechnology, health care system, and hospital services. The forum establishes communication among investors and entrepreneurs, and provides them a room to share their knowledge and experiences in the business: a two-way learning process which is essential in promoting the development of life sciences industries.
Tenex members are the best entrepreneurs in their fields who were senior executives of health care companies, communication corporations, high technology business, and private investors associated with banks and finance developments. They developed an "incubator concept" to gain the best deal possible from opportunities in Life Sciences to further create a substantial flow of services to consumers and a wide gross margin to entrepreneurs. Follow-on financing is also considered to support continuing business in its future ventures. In addition, members invest a minimum of $75,000 a year and responsible in counseling start-ups who passed the screening process and on their way to corporate management and subsequent venture funding.
The organization focuses on early stage ventures that possess a huge growth potential and sustainable business growth for the first 3-5 years. Tenex can provide a seed investment ranging from $250,000 to $750,000 in successful companies that can either be a partial capital fund or the entire amount of investment.
On the Tenex Investment Proposal form available for download to interested start-ups, it is noted that companies need to pay a $2,500 base appearance fee if any capital funds are raised by Tenex investors. Likewise, another $2,500 is also needed once Tenex members are able to acquire funds more than $100,000. Along with the submission of form, entrepreneurs are required to attach their company's executive summary, management team profiles, and a comprehensive financial projection and balance sheet on a five-year period.
On the average, two start-up companies present their business plans during a dinner meeting that is held twice a month. During these meetings, around 100 to 125 investors are invited to examine business presentations of early stage companies and provide a critical assessment of their potential in the industry.
Tenex's portfolio of successful companies include Genitope Corporation, Invisalign, Myogen (MYOG), and Questcor Pharmaceuticals. In addition, the group is a proud member of Angel Capital Association (ACA), Technology Vision Group, and Biopartnering.com.
Tenex Medical Investors's Website
Tenex Medical Investors's website has substantial but limited number of articles with regard to angel investment financing. In the home page, the group's mission is clearly noted to encourage participation from private investors and life science entrepreneurs. Likewise, it is apparent that the site is not currently updated as specific information like conference sponsorship and events that happened several months ago are still on the main page. Future activities and plans of the group are likewise not mentioned on the site.
On the other hand, the Business Resources folder contains useful downloads of files that include a business plan sample, a Tenex Investment Proposal form, and articles about venture capital funds and accounting guides to VC-funded companies.
The only set of information available to the viewing public is a brief history of Tenex Medical Investors and its investment criteria. Most company information are restricted and only members of the group can access the files. In addition, the Contact Us page allows feedback and specific inquiries from interested parties who plans to join the group or apply for an investment.
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