Thursday, February 27, 2014
Want to find the best deals? The best exits? Curious about syndicating on accredited platforms? How about getting answers to your questions about the new SEC rules on general solicitation and what you really need to do (from the SEC and from leading attorneys)? Want to rub shoulders with some of the best and most successful angels in the world?
Tags: Economy Tuesday, February 18, 2014 By: David Verrill, Hub Angel Investment Group, LLC & Chairman – Angel Capital Association
ACA is eager for more accredited individual investors to join our organization to benefit from the professional development events, deal flow tools, and resources for portfolio success that we offer, along with the ability to influence public policy that has a huge impact on angel investors.
Tags: Monday, February 17, 2014 By: Matt Dunbar, Upstate Carolina Angel Network
ACA recently hosted a Webinar with AngelList co-founder Naval Ravikant to help members learn more about the AngelList syndicates platform. During the hour-long webinar Ravikant explained how AngelList syndicates work and how they enable entrepreneurs and angel groups to attract more investors to fill out funding rounds. Here is a quick summary of some of the details
Ravikant shared during the wide-ranging Webinar:
A: Although any entrepreneur can post a deal to AngelList and try to attract investors, the syndicates platform requires a lead investor. The lead investor can be an individual angel, angel group, or seed fund that sets the terms, commits initial funding to the round, and provides an investor’s perspective on the candidate company. The syndicates platform is simply a vehicle to attract other investors to the deal. Tags: Syndication Thursday, February 06, 2014
2013 was a great year for angel investors, including many ACA member angel groups. Several had successful exits, others made more investments than they ever have in a year, and new groups made investments for the first time.
Tags: Tuesday, November 05, 2013 Yesterday ACA submitted a comment letter to the Securities and Exchange Commission on its proposed rules on "Amendment to Regulation D, Form D, and Rule 156". For background, these rules would require issuers that generally solicit their offerings to submit an advanced Form D 15-days before they advertise, provide all of their solicitation materials to the SEC by the day of use, include "legends" in all materials, and provided a one-time 30-day "cure" to submit filings. If misfilings were not cured, then the issuer would lose the right to raise funds under Regulation D for one year. Many ACA members were very concerned about the impact this could have on startups - including putting early-stage companies out of business. ACA's letter, which you can download here, focuses on those concerns and also offers recommendations to reduce the burden on startups. Tags: Wednesday, October 02, 2013
The world of equity fundraising has really changed since September 23, when the SEC rules lifting the ban on general solicitation became effective. We’ve seen entrepreneurs use new ways to promote their investment opportunities, but we’ve also seen media coverage with many questions and misinformation about everything from how to verify that investors are accredited investors to what really makes a deal
“generally solicited”. Questions and comments still abound about the proposed rules on Regulation D, Form D and Rule 156.
Tags: Friday, September 20, 2013 The SEC’s new rule lifting the ban on general solicitation becomes effective on Monday, September 23rd. This new rule 506(c) requires that issuers using general solicitation take reasonable steps to verify its investors are accredited investors. Recently, ACA issued guidance that verifying membership in an Established Angel Group (EAG) should meet the “principles-based methodology” in the SEC rule. The EAG method conforms well to the flexible, principles-based-methodology that the SEC has designed. As the SEC has noted, it expects many practices – including methods already in use by which issuers have verified investors are accredited – to be developed and evolved as useful to the early-stage company ecosystem. It is likely that many if not most deals that angel groups will see going forward will fall under the category of Rule 506(c). Current SEC language describing general solicitation includes: “any seminar or meeting whose attendees have been invited by any general solicitation or other advertising.” SEC staff on Tuesday publicly stated that “most demo days and pitch competitions” are likely to be considered general solicitation (See: sec.gov for Advisory Committee on Small and Emerging Companies Meeting held September 17, 2013. Webcast archive expected to be available shortly.) Tags: Friday, September 06, 2013 This blog article was written by Ingrid Vanderveldt, Entrepreneur-in-Residence at Dell, an ACA annual partner. My journey and experiences on both sides of the table, as both an entrepreneur and an investor, have made me aware of the special relationship between investor and investee. When both sides strive to create maximum value, beyond the traditional financially-focused benchmarks, the relationship, fostered well, can produce tremendous results that will spill into every other area that leads to longstanding success.
Form a support group.
Tags: Tuesday, September 03, 2013
ACA today provided guidance on the significance of angel group membership in connection with new standards for accredited investor verification. Under Securities and Exchange Commission (SEC) Rule 506(c), which becomes effective September 23, 2013, startups and emerging companies that generally solicit for investors will have heightened duties to verify that all
purchasers are accredited.*
Tags: Monday, August 19, 2013 Earlier this month, Laura Baverman wrote an article in USA Today entitled "Time is Right to Consider Angel Investing". I was tickled with the article because not only did it get the message to many potential angels that angel investing could be a great activity for them, but that it quoted a number of ACA members and friends - such as Dan Mindus of NextGen Angels, John May of New Dominion Angels, the managing team of Golden Seeds (great photo, by the way!), and Rob Wiltbank of Willamette University and the Angel Resource Institute, among others. If you are new to angel investing or just starting to think about making these investments in innovative startups, I recommend that you talk with people you know who are angel investors, attend an angel group meeting near you to get an idea of how they work, and read up on how angel investing works with articles, posts, and books from experienced angels. ACA and our members are here to help you as you learn about the fun, adventurous and fulfilling world of investing in and mentoring some really great entrepreneurs. Tags: |