| Angel Investor Group Profile |
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The Orange County Angel Network is an investment group operated by the Orange County Capital Development Corporation (OCCDC). The OCCDC, which was founded on June of 2003, is a subsidiary of the Orange County Partnership. This is a semi-private partnership that works towards the goal of advocating economic development and increasing employment in Orange County, New York. The OCCDC's part in realizing this goal is through supporting emerging entrepreneurs in creating viable business plans and investment opportunities to be presented to investors. To address both the needs of entrepreneurs and investors, the OCCDC conceived the Orange County Angel Network. This investment group is facilitated and financially supported by the OCCDC, which has its own investment fund utilized in supplementing the investments made by the angel network. To further enhance their support to entrepreneurs, the network has also connected with a number of venture capital organizations for other future funding needs.
The Orange County Angel Network (OCAN) helps in establishing new companies that are in the early stage of development by providing first round funding that ranges between $100,000 to $1 million. Companies should preferably be located or willing to locate at Orange County, New York. Qualified applicants for funding should have a capacity for success and should have a strategically formulated business plan of great viability. Interested companies should fill out the business review form available online. A business presentation shall then be facilitated by a review panel. After the necessary evaluations, the company may be requested to present their business plan to the whole of the Orange County Angel Network. After which, individual member investors would then decide for final investment. If a company has proven its worth for success after the funding, a second round of higher amount of funding through other investment organizations may be assisted by the OCCDC.
The Orange County Angel Network is open for member investors. Interested applicants can apply online provided they meet the qualifications. Member investors of the angel network should be an accredited investor in accordance to the SEC regulations of the United States, and should have an individual or joint non-real estate net worth of at least $1 million, an individual income of at least $200,000, or a joint income of at least $300,000 annually. They should also be willing to engage in a long-term of investment of six years and should be aware and undaunted by the high risks of loss in investment. A member should also have an expertise in a certain field that can be used in assisting prospective investment companies in realizing their full potential and success. Lastly, a member should also invest at least $25,000 in whatever kind of business he/she might be interested in. An annual membership fee of $500 is also charged to each member of the investment group.
Orange County Angel Network Website
Since the Orange County Angel Network (OCAN) is the investment group arm of the Orange County Capital Development Corporation (OCCDC), the angel network's website is within the OCCDC website. Since the OCAN and OCCDC are connected, the details and information regarding investment is dealt with according to the the two bodies. Although that is so, they both work toward the same goal of establishing companies. And to do this, the site provides the necessary information for those who intend to apply for funding, as well as a registration link. The qualifications and the process involved are provided in the entrepreneur page. While, the link for registration leads to a process of application by providing vital information and business plan. This page can be accessed again through a username and password provided during registration. It is a very efficient site for entrepreneurs because it does not only provide information and support for business in the early stage of development that is provided by OCAN, but also for those who are in the later development or expansion stage that is provided by OCCDC. It ensures support for all kinds of business enthusiasts.
A whole page is provided for those interested investors to the Orange County Angel Network. It is actually an entirely OCAN page. All the necessary membership requirements are stated in the page and as well as a link for those who are already members. They can access this link through a username and password and use the accumulated information in the system for their investment duties and responsibilities.
The site also provides links to the recent updates in the investment business, as well as a link to the websites of the OCAN partner organizations and affiliations. The contact page, on the other hand, provides a physical and as well as an electronic address for further queries. There is also a request information form for investors and entrepreneurs. Also, profiles of the OCCDC managing director and board members are also provided for a background of their achievements and expertise.
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| Angel Investor Group Profile |
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