| Angel Investor Group Profile |
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Founded in 2005, the Virginia Active Angel Network (VAAN) is a group of accredited investors and skilled entrepreneurs that aims to support start-up companies within Central and Southern Virginia as well as the Mid-Atlantic Region of North Carolina, Washington DC, West Virginia, and Maryland. VAAN was established by the alumni association from the University of Virginia with support from the New Vantage Group (NVG) in Vienna to help early-stage entrepreneurs through seed investment and professional mentoring. The group meets every month to discuss potential investments in Charlottesville and Blacksburg, Roanoke head offices. VAAN is formerly known as TJ Capital Group.
VAAN members actively participate in the operations of the group. They are directly involved in the selection process, due diligence, mentoring, and syndication to further assist their portfolio companies in second-round and third-round financing. The group organizes ten dinner assemblies a year, from September to July, to discuss investment status and administrative issues. In addition, entrepreneurs applying for investment are asked to present their business plans in front of VAAN members and if there's a sufficient interest among investors and Managing Partners, the due diligence process shall proceed. The group guides the entrepreneur in early stages of business that include product development, market analysis, profit and loss study, and strategies to sustain growth. Once the company has successfully passed the process, a Special Purpose Limited Liability Company (LLC) is created to manage the operations of the start-up. Interested investors assume shareholder position in the LLC and VAAN's Managing Partners serves as board members and advisors of the new business.
VAAN membership is invitational. Private investors, senior executives, and entrepreneurs are requested to send an email regarding interest in joining the group. Prospective members must be accredited investors based on the guidelines set forth by the Securities and Exchange Commission (SEC) and are required to attend at least one dinner assembly before application. In addition, dues are given by investors at the start of every investor year as well as the lifetime registration fee. Investors who are keen on early-stage ventures and willing to share their experiences with young entrepreneurs are encouraged to be part of the group.
The organization continues to expand its network of investors through syndication with angel investment groups, venture capitalist firms, and related organizations in entrepreneurship. Currently, VAAN is a member of the Angel Capital Association, the Richmond Venture Forum, the Virginia Piedmont Technology Council, and the Charlottesville Venture Group.
Entrepreneurs who are looking for seed investment are requested to fill up the VAAN Application Form available on the group's website that sums up the vision, mission, product overview, market analysis, and financial projections of the start-up. Likewise, entrepreneurs may also upload their executive summaries and business plans. Submission is free of charge.
On February 23, 2007, VAAN closed an investment deal with Envisioner Medical Technologies along with private investors and angel groups in the region, and almost a month later, PluroGen Therapeutics followed.
Virginia Active Angel Network Website
Simple but efficient, the Virginia Active Angel Network website is an excellent source of information regarding angel investment. The site has provided substantial content about the group's history, objectives, and investment focus that can help start-up companies in the application process. The investment criteria and guidelines are clearly stated and the link needed to upload executive summaries and business plans is user-friendly. Frequently asked questions regarding the selection process are provided in the Application Form link that can help entrepreneurs in assessing their potential and opportunities in the group. In addition, resources are also accessible to interested browsers that contain articles and events with regard to VAAN seminars and portfolio companies. For feedback and inquiries, contact information is likewise available on the site.
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