| Angel Investor Group Profile |
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The Rochester Angel Network is an angel investment group founded on 2005 in the Greater Rochester area, New York City. This private group of individual member investors was formed to merge and utilize their expertise and advantage in investments by establishing early-stage companies with a high level of viability. The group can provide an investment capital funding of about $250,000 up to $2 million. As of date, they have had investments with five companies that totals to $2.5 million. These companies are Geospatial, Lumetrics, New Scale Technologies, SmartPill, and Connected Energy Corp. The Rochester Angel Network is also a member of the Angel Capital Association.
Currently, there are about 28 Rochester Angel Network member investors. Membership to the group is still open but interested applicants need to be sponsored by a current member of the investment group. Membership application form and guidelines can be downloaded from the group's website. Processing of membership applications is within sixty days. Applications are subject to evaluation and recommendation of the Membership Committee and shall be approved by the Board of Directors. A membership fee of $250 will be charged to new members while old members are charged an annual membership fee of $500.
All members of the Rochester Angel Network are accredited investors in accordance with the SEC guidelines of the United States. This means that an investor should have at least an annual individual or joint net worth of at least $1 million, or an individual income of at least $200,000 annually, or a joint income of at least $300,000 annually. A member should be an active investor with a minimum investment worth $25,000. Members should also have a knowledge or expertise in a specific field that they can utilize for the advancement of investment companies. They should also participate in events or meetings that the group holds, such as the regular monthly meetings for evaluating prospective company investments, as well as due diligence processes.
The Rochester Angel Network typical investments are on companies that are preferably located on the western part of New York, technologically advanced and innovative, highly competitive, have significant market advantage, and can achieve growth and progress within a short span of time. A potential for national and international market is also an advantage. A candidate company should also have a strategically formulated business plan and exit strategy that covers a significant amount of return of investment within four to seven years. Applications for funding, as well as business plans can be submitted online. Upon submission of application, this will be reviewed and forwarded to the screening committee. A company shall then be requested to present its business plan during the group's monthly meeting. Member investors who are interested to invest on the company shall have a follow-up deal meeting. This will be followed by a due diligence process, as well as negotiations of terms. Final investment shall follow after a company has successfully passed through all levels of the screening process. Approximately, this process is carried out within three to five months.
Rochester Angel Network Website
Details on statistical achievements of the Rochester Angel Network highlight the home page of the website. To further support these achievements is a link to the portfolio of company investments. This connects to a page wherein each of the websites of these companies can also be accessed. A link for business resources in the Rochester area is also on the home page. This can be a very helpful tool for entrepreneurs to help them in accessing vital information regarding business. For interested companies who seek funding and individuals who wish to join the angel network, a link for online application is also provided. The link to investment application leads to the entrepreneurs page where there is a registration process that is username and password-enabled. On the other hand, the investor application link leads to the investor page where membership application form and guidelines can be downloaded.
The tab links on the website are divided into six parts. The first being the entrepreneurs page, where the qualifications for funding, screening process, a link to online application and other important information about investment funding is included. Next, is the investors page that is similar with the entrepreneurs page. It also includes important information about investor membership. The third tab comprises a background information about the Rochester Angel Network and their portfolio of investments. Current news about the investment business come in the next tab, followed by very useful business resource links. The last is the contact page, where a blank form to be filled out with basic information, as well as questions, comments and suggestions is provided.
The Rochester Angel Network website is a manageable website. It is very easy to find needed information through simple navigation. Thus, it does not complicate browsing that even those people who are not computer savvy can easily go through the site without any hassle.
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