What is an Angel Investor?
An Angel investor is an individual that might be a doctor, lawyer, business owner, an executive or a season business owner who has an interest in helping young companies. They typically invest in early stage or start-up companies in exchange an equity or provide investments in the form of a note using their own capital. According to the SEC, the main criteria of an Angel Investor is that they must have a net the worth of at least $1 million or make $200,000 a year (or $300,000 a year jointly with a spouse).
Is First State Angels a committed fund?
No, we are a network of angels. There is no committed capital. The members of the network make their own investment decision using their own capital.
Are there fees to participate?
Yes, the fees will be determined at a later date. The fees could come in a form of an annual membership fee or a success fee of the total capital raised.
What type of companies will be presenting?
The type of companies will range from capital efficient tech startups who are looking to scale quickly to traditional companies that are just looking for financing to help them expand.
We do not invest in nonprofits, films, television projects, theater projects, real estate or sectarian projects.
What if I don’t know anything about Angel Investing?
No problem, we will train you with our educational workshops and provide online resources with educational material to aide you. By attending pitch meetings, you will gain first-hand experience of the angel investing process and will have the opportunity to engage with industry experts from many different fields.
Does First State Angels’ members only invest in Delaware companies?
No, we will consider deals throughout the U.S., however since many of members are located in Delaware most of the deal flow outside of Delaware will come from the Mid-Atlantic region.
How much time should I commit to mentoring?
There is no requirement for how much time you commit to mentoring an entrepreneur. It should instead be based on the needs of the start-up and type of support you can offer.