There is a ton going on in the Birmingham startup ecosystem, some that is public knowledge and some that isn't.
Here's a small sampling of some at least semi public stuff that I've been working on and think is worth supporting...if anything seems like a fit, give me a buzz, we can always use good help.
1. Expanding our BAN Mentorship Program
2. Creating a Culinary Startup Incubator
3. Proposing and Passing a Startup Capital Tax Credit
4. Getting regularly scheduled PR for the Startup scene
5. Supporting and expanding Birmingham Startup Drinks
6. Creating a Deal Flow Clearinghouse for non-startup related alternative investments
7. Brainstorming on ways to fill the "concept validation" gap
That's probably a good start.
If any of that strikes your fancy...come on down.
***This post probably also shows that we could use an initiative that keeps track of the various ways to get involved, but that will have to wait till another day.
Showing posts with label Investor Groups. Show all posts
Showing posts with label Investor Groups. Show all posts
Wednesday, November 16, 2011
Friday, April 1, 2011
(Article) The Four Main Things that Investors Look for in a Startup | Both Sides of the Table
This is a good overview that is worth keeping in mind. I still like the Blue Ocean Strategies factors, but this gets to the point too.
The Four Main Things that Investors Look for in a Startup | Both Sides of the Table
"1. Momentum,
2. Management Team,
3. Market Size, and
4. Money."
The Four Main Things that Investors Look for in a Startup | Both Sides of the Table
"1. Momentum,
2. Management Team,
3. Market Size, and
4. Money."
Thursday, February 10, 2011
Open Letter re: Supercharging Business Development in Alabama
I would humbly propose a vision. The vision is of a state in the heart of the Southeast that is an economic engine and a force in the global economy. That may sounds unachievable, but I firmly believe that it is within our grasp if Alabama can couple some measure of bold leadership with coordinated and efficient usage of current resources.
The strategic steps need to include solutions for two major bottlenecks in the high-growth company creation process by:
1. Increasing the number of investment ready high growth potential companies in Alabama; and
2. Encouraging investor participation in funding seed and growth stage high potential companies.
As a part of step one.
The state needs to use existing state resources to support the maturation process of quality high-growth potential companies.
Today, the Board of Alabama Launchpad is meeting to discuss the direction of that program and it is potentially a very important meeting in this business development process. Launchpad is a unique statewide organization that was established as a partnership among the state's research universities and the business community. The primary program run by Launchpad is an annual business plan competition that awards grants of $100,000; $50,000 and $25,000 for 1st through 3rd places respectively and it is a great starting point.
The reviewers and mentors already working with Launchpad are great entrepreneurial resources and their feedback is often worth significantly more than the prize money. However, Launchpad can be much more...
Ask almost any active angel investor or seed stage venture fund manager in any state and you will hear a lament about the typical sophistication and "readiness" of most startup businesses for outside capital. This is a huge bottleneck in the creation of high growth companies because regardless of the amount of capital available, it simply will not be effectively put to work if there are not proper risk/reward investment opportunities. Either the capital will under-perform or it will be put to work in other investments.
This is an opportunity Launchpad can grow to fill with a couple of steps:
1. Launchpad is expanded to include any innovative business, so that the entire state population can have the opportunity to participate.
2. A seed fund (or grant program) is associated to provide a stipend of $10,000-20,000 to the top 25 (approx. Phase 4) participants.
*this would be in addition to rather than replace the top 3 awards
3. Launchpad schedule is reworked to be a quarterly program rather than annual.
4. In exchange for receiving the seed funding, the top 25 participants agree to move company operations into the nearest business incubator for a three month program *(think TechStars on a state-wide basis).
Such program incubators could include:
5. During the three month program, mentors and advisors (many qualified candidates are already involved as judges) regularly meet with the participants in a combination of one-on-one company sessions, incubator-wide group sessions and program-wide webinars.
6. Following the end of the three month program all of the participants would come together for a graduation showcase of all the companies and the progress made by them during the term.
As a part of step two.
The state needs to implement a state tax credit that encourages increased investor participation with potential high-growth companies in Alabama at both the seed stage and growth stage.
Such a tax credit would be best if:
1. It is open to many industries and leaves the specific company and industry selection to the investing parties, so that profit motive may direct the investing activity without artificial manipulation.
2. It is targeted at seed stage investments (i.e. no previous 3rd party capital, less than 20 or so employees, less than $1 million investment, etc.)* because that is where the largest gap is located.
*the criteria need to be fully vetted to avoid unintended consequences
3. It is in the 20-40% range, so that the investor incentive is significant while not eliminating the need to properly evaluate prospective investments.
4. It is available for both direct investments into a target company as well as for investment into a qualified venture fund, so that those investors interested in participating, but without sufficient time, skill or interest may act through a qualified professional.
Conclusion
If both of these projects (Part 1 and 2) can be implemented, then Alabama could see the annual creation of 100 new investment ready high growth potential companies. If only 5% of those companies are able to achieve a successful exit, then Alabama could still be creating an annual addition of approx. $225 million* in new enterprise value to the state's economic base. Furthermore, those number would not include the economic effect of the other 95 companies and the "exiting" companies that choose to stay in Alabama and continue to grow, so the total economic effect could be many times the simple exit value.
*(5 companies annually multiplied by the $46 million median exit value in 2010 of venture backed companies...according to DJ VentureSource)
P.S. As always, take what you like and leave the rest.
The strategic steps need to include solutions for two major bottlenecks in the high-growth company creation process by:
1. Increasing the number of investment ready high growth potential companies in Alabama; and
2. Encouraging investor participation in funding seed and growth stage high potential companies.
As a part of step one.
The state needs to use existing state resources to support the maturation process of quality high-growth potential companies.
Today, the Board of Alabama Launchpad is meeting to discuss the direction of that program and it is potentially a very important meeting in this business development process. Launchpad is a unique statewide organization that was established as a partnership among the state's research universities and the business community. The primary program run by Launchpad is an annual business plan competition that awards grants of $100,000; $50,000 and $25,000 for 1st through 3rd places respectively and it is a great starting point.
The reviewers and mentors already working with Launchpad are great entrepreneurial resources and their feedback is often worth significantly more than the prize money. However, Launchpad can be much more...
Ask almost any active angel investor or seed stage venture fund manager in any state and you will hear a lament about the typical sophistication and "readiness" of most startup businesses for outside capital. This is a huge bottleneck in the creation of high growth companies because regardless of the amount of capital available, it simply will not be effectively put to work if there are not proper risk/reward investment opportunities. Either the capital will under-perform or it will be put to work in other investments.
This is an opportunity Launchpad can grow to fill with a couple of steps:
1. Launchpad is expanded to include any innovative business, so that the entire state population can have the opportunity to participate.
2. A seed fund (or grant program) is associated to provide a stipend of $10,000-20,000 to the top 25 (approx. Phase 4) participants.
*this would be in addition to rather than replace the top 3 awards
3. Launchpad schedule is reworked to be a quarterly program rather than annual.
4. In exchange for receiving the seed funding, the top 25 participants agree to move company operations into the nearest business incubator for a three month program *(think TechStars on a state-wide basis).
Such program incubators could include:
5. During the three month program, mentors and advisors (many qualified candidates are already involved as judges) regularly meet with the participants in a combination of one-on-one company sessions, incubator-wide group sessions and program-wide webinars.
6. Following the end of the three month program all of the participants would come together for a graduation showcase of all the companies and the progress made by them during the term.
As a part of step two.
The state needs to implement a state tax credit that encourages increased investor participation with potential high-growth companies in Alabama at both the seed stage and growth stage.
Such a tax credit would be best if:
1. It is open to many industries and leaves the specific company and industry selection to the investing parties, so that profit motive may direct the investing activity without artificial manipulation.
2. It is targeted at seed stage investments (i.e. no previous 3rd party capital, less than 20 or so employees, less than $1 million investment, etc.)* because that is where the largest gap is located.
*the criteria need to be fully vetted to avoid unintended consequences
3. It is in the 20-40% range, so that the investor incentive is significant while not eliminating the need to properly evaluate prospective investments.
4. It is available for both direct investments into a target company as well as for investment into a qualified venture fund, so that those investors interested in participating, but without sufficient time, skill or interest may act through a qualified professional.
Conclusion
If both of these projects (Part 1 and 2) can be implemented, then Alabama could see the annual creation of 100 new investment ready high growth potential companies. If only 5% of those companies are able to achieve a successful exit, then Alabama could still be creating an annual addition of approx. $225 million* in new enterprise value to the state's economic base. Furthermore, those number would not include the economic effect of the other 95 companies and the "exiting" companies that choose to stay in Alabama and continue to grow, so the total economic effect could be many times the simple exit value.
*(5 companies annually multiplied by the $46 million median exit value in 2010 of venture backed companies...according to DJ VentureSource)
P.S. As always, take what you like and leave the rest.
Monday, January 24, 2011
AngelPool - First Deal Syndication Meeting Recap
We had the first of, hopefully, many regional web conferences among the southeastern ACA (Angel Capital Association) chapters as a part of AngelPool last week. Included on the meeting were representatives from:
460 Angels, Blacksburg VA
Active Angel Investors, Vienna VA
Angel Capital Group, Hendersonville TN
AngelLounge, Atlanta GA
Birmingham Angel Network, Birm. AL
Central Texas Angel Network, Austin TX
CEO Ventures, Atlanta GA
Charleston Angel Partners, Charleston SC
Concho Valley Angel Network, San Angelo TX
Global Angel Investor Network, Savannah GA
Go Beyond Network, Naples FL
Gulf Coast Venture Forum, Naples FL
Houston Angel Network, Houston TX
Huntsville Angel Network, Huntsville AL
Inception Micro Angel Fund, Winston-Salem NC
InvestIn Forum of Angel Investors, Dallas TX
Jefferson Corner Group, Charlottesville VA
Louisiana Angel Network, Baton Rouge LA
Nashville Capital Network, Nashville TN
New Dominion Angels, Warrenton VA
New World Angels, Boca Raton FL
North Texas Angel Network, Fort Worth TX
Piedmont Angel Network, Greensboro NC
South Coast Angel Fund, New Orleans LA
South Texas Angel Network, San Antonio TX
Springboard Capital, Jacksonville FL
Upstate Carolina Angel Network, Greenville SC
Virginia Active Angel Network, Charlottesville VA
Women Angels, Miami FL
Over the course of an hour or so, we heard from three new companies (including BAN portfolio company TransactionTree) and had a few minutes for Michael Price (AngelPool Chairman) to provide some thoughts and visions for the future.
Despite a couple of to be expected technical glitches, it was a nice start to streamlining the syndication process and providing a great new resource for our southeastern ACA chapters.
460 Angels, Blacksburg VA
Active Angel Investors, Vienna VA
Angel Capital Group, Hendersonville TN
AngelLounge, Atlanta GA
Birmingham Angel Network, Birm. AL
Central Texas Angel Network, Austin TX
CEO Ventures, Atlanta GA
Charleston Angel Partners, Charleston SC
Concho Valley Angel Network, San Angelo TX
Global Angel Investor Network, Savannah GA
Go Beyond Network, Naples FL
Gulf Coast Venture Forum, Naples FL
Houston Angel Network, Houston TX
Huntsville Angel Network, Huntsville AL
Inception Micro Angel Fund, Winston-Salem NC
InvestIn Forum of Angel Investors, Dallas TX
Jefferson Corner Group, Charlottesville VA
Louisiana Angel Network, Baton Rouge LA
Nashville Capital Network, Nashville TN
New Dominion Angels, Warrenton VA
New World Angels, Boca Raton FL
North Texas Angel Network, Fort Worth TX
Piedmont Angel Network, Greensboro NC
South Coast Angel Fund, New Orleans LA
South Texas Angel Network, San Antonio TX
Springboard Capital, Jacksonville FL
Upstate Carolina Angel Network, Greenville SC
Virginia Active Angel Network, Charlottesville VA
Women Angels, Miami FL
Over the course of an hour or so, we heard from three new companies (including BAN portfolio company TransactionTree) and had a few minutes for Michael Price (AngelPool Chairman) to provide some thoughts and visions for the future.
Despite a couple of to be expected technical glitches, it was a nice start to streamlining the syndication process and providing a great new resource for our southeastern ACA chapters.
Saturday, January 22, 2011
Apply to Birmingham Angel Network, LLC - Create Application
It's a new year and time to kick off a great new class of companies for 2011.
Birmingham Angel Network ("BAN") will be looking for a new high growth companies to work with at our next meeting on Thursday night (Jan. 27th).
If you or someone you know would be a great fit, please tell them to submit an application before Thursday or it will be another 3 months before there is another opening. General criteria may be found at: BirminghAmangels.com/entrepreneurs.php
Submissions may be made online through AngelSoft at: Apply to Birmingham Angel Network, LLC - Create Application.
If you are a potential investor, Thursday is a great time to visit and check things out as well. RSVP at: http://ban012711.eventbrite.com/
Birmingham Angel Network ("BAN") will be looking for a new high growth companies to work with at our next meeting on Thursday night (Jan. 27th).
If you or someone you know would be a great fit, please tell them to submit an application before Thursday or it will be another 3 months before there is another opening. General criteria may be found at: BirminghAmangels.com/entrepreneurs.php
Submissions may be made online through AngelSoft at: Apply to Birmingham Angel Network, LLC - Create Application.
If you are a potential investor, Thursday is a great time to visit and check things out as well. RSVP at: http://ban012711.eventbrite.com/
Monday, January 3, 2011
Median exit price was up 70% to $46 million in 2010, but either way the math still works.
"The $46 million median amount paid for a venture-backed company in 2010 was 70% more than the $27 million median in 2009."Exits and amount up in 2010 by Dow Jones Venture Source
Thankfully those numbers are still in line with the the $30 million average successful exit planning assumption we have been using in our portfolio pro formas. (See the Nov. 22 blog post for more detail)
Of course, we would all be even happier if a non-typical paypal/google type 1000x slipped in there too.
Thankfully those numbers are still in line with the the $30 million average successful exit planning assumption we have been using in our portfolio pro formas. (See the Nov. 22 blog post for more detail)
Of course, we would all be even happier if a non-typical paypal/google type 1000x slipped in there too.
Monday, November 22, 2010
Angel Investing: Do good by doing well (WTN News)
An article worth reading:
And I would go one step farther...good angel investing is not just about overlooking rough edges, but instead it is about taking well thought out and calculated risks at a very early stage in the life cycle of a high growth business, thus there are apt to be more rough edges in a typical deal than in deals done by later stage investors.
The simple economics look like this:
1. "Successful" deal(s) return 30x or more of investment (e.g. $100k investment equals $3mm or more on exit);
2. Approx 1 in 10 deals are successful *;
3. Approx. 50% return less than the investment*;
4. Average hold period for a successful exit is approx. 6 years*; thus
5. Average IRR of angel deals is approx. 27%*.
Nonetheless, despite the lofty economic motives there is significant "goodwill" (founders, community, employees, etc.) because many of those companies simply would not exist without the investment and support of early stage angel investors.
*(Numbers based on national averages included in a number of different studies. See Marion Kaufman Foundation for just a few.)
Tuesday, November 16, 2010
Don't mind the media, southern angel investors still wanted!!! *a southern view of a west coast commentary
Mark Suster (generally, one of my favorite writers about angel/VC investing) wrote an article yesterday called "Here's What Angel Investing And Florida Condos Have in Common" and made several points that I think are worth considering in a southeaster context.
His points were primarily:
His points were primarily:
- angel investing is currently a hot fad;
- there are too many startups being formed for the historical ratio to be successful;
- the VC market is overheated, so it is masking the problem of too many startups;
- we won't fully realize the bubble for another 5-6 years;
- angel investors, like other investors tend to pick poorly and buy high then sell low; and
- if investors pick the right sectors there are still good startups available.
These are interesting for a number of reason, but mainly because of how west coast influenced they seem to be.
"Hot Fad" - Angel investing may be a hot fad in LA or Boston, but in the southeast angel investors are still few and far between and the resulting investment gap is large. If you question that statement, then I would encourage you to ask your local VC groups because I bet they will tell you they are still searching hard for qualified deals and that they really don't have a good place to refer companies that are too early stage for their investment criteria.
"VC market overheated" - just a couple of weeks ago at the southeastern ACA meeting we heard over and over again how difficult the current market is for raising a new venture fund. Without new funds it is hard for a market to get overheated. Also, the hot VC markets don't reach well into other geographies, so even if certain pockets are hot it still doesn't reach. Brad Feld ( I think it was Brad) explained it well a month or so ago when he pointed out that because of limited time, he really had to spend his time looking at deals in his core travel routes.
"Bubble" - this point I agree with...at least to the extent that I agree that angel deals are no different than other businesses and need to be supported by solid economic fundamentals. Thankfully, we are able to wait and pick through deals that don't seem to have solid fundamentals (i.e. actual sales and even profits...jaw dropping for west coast angels I know).
"Investors buy high and sell low" - this is a trait where I think southerners can claim some superiority in angel investing because southerners by nature are less prone to jump onto the bandwagon of the last hot trend. Southerners are used to being considered uncool on a national basis and some even revel in it, so pragmatism is a bit more apt to rule the day. **I realize the real estate boom hurt southerners too, but the desire to own land is a particularly southern weakness that I think overruled our otherwise general pragmatism.
"Certain sectors are still good" - I want to agree with this point, but I don't because it just sounds too much like the same fad based investing Mark was railing against in the article. Instead, I will say that good businesses and good business opportunities can make for successful investments in any market.
Overall, I will say that the southeast is still an undiscovered gem for many investors and that it is good business to be a part of companies that are growing and successful, which is exactly what our southern angels are seeking to do.
**If you want to see what I mean come check out a local ACA group meeting (BirminghamAngels.com) and I think you will find there is still plenty of room for good business people that have vision and practicality, both as entrepreneurs and investors.
Monday, September 27, 2010
Birmingham Angel Network - Meeting Update
Overview of the update that was sent to Bham Angel Network ("BAN") group members Friday:
BAN,
We had a good meeting last night and came away with three new candidates that will be presenting in our 4th quarter cycle.
We also had updates on some of our open deals and portfolio companies. Specifically, we covered Cuestion tequila and their latest news along with a status update on the due diligence report from TransactionTree along with general comments about others. Everyone seems to be moving along and that bodes well for both the companies and our group.
We will have a lot going on in the fourth quarter with the Southeastern ACA meeting, supporting our growing portfolio and current deal flow. It looks to be a banner end of the year for 2010 with a lot of good activity. See you in October and keep an eye out for updates in the meantime.
Best,
Josh
Monday, September 13, 2010
2010 Southeast ACA Regional Meeting (Oct. 19-21)
Dear Southeast Angel Group Leaders:
I hope the Fall is off to a great start for you and your group. With the cooler weather finally starting to arrive, we are now just over one month away from our annual fall Southeast ACA Regional Meeting in Greenville, South Carolina (October 19-21st). In light of the rapidly approaching event, we wanted to reach out with a few reminders and requests...
1. Please encourage your members to register for the Meeting sooner rather than later. Here's a link to the registration page: 2010 SOUTHEAST ACA REGIONAL MEETING REGISTRATION. I've also attached a copy of the registration packet to this note so you can re-distribute to your members.
2. The deadline for securing our block room rate at the Westin Poinsett is Tuesday, September 28, so please have your folks make their reservations within the next two weeks. Here's the HOTEL RESERVATIONS PAGE.
3. Please nominate one of your deals for Syndication prior to the the (extended) deadline of Tuesday, September 28. To nominate a deal, simply refer it to the ACA Southeast Angels Group (listed under North Carolina) in AngelSoft. Remember that qualified deals must have received an investment or signed a term sheet with the sponsoring group. If you run into any issues making a nomination, please just contact me directly.
4. In order to facilitate our discussion at the meeting related to Syndication efforts in the Southeast, please take 3 minutes to complete this SYNDICATION PREFERENCES SURVEY. We will discuss the survey results and their implications during the afternoon session on October 20.
5. Finally, we are planning to have a panel discussion on day two of the meeting related to your experiences with implementing strategies for Early Exits. If you have an instructive story on how your group has successfully executed or made preparations for an Early Exit, please contact me so we can include your story in our discussion.
Thanks very much, please let me know if you have any questions, and we look forward to seeing you in a few weeks.
Best regards,
Matt D.
I hope the Fall is off to a great start for you and your group. With the cooler weather finally starting to arrive, we are now just over one month away from our annual fall Southeast ACA Regional Meeting in Greenville, South Carolina (October 19-21st). In light of the rapidly approaching event, we wanted to reach out with a few reminders and requests...
1. Please encourage your members to register for the Meeting sooner rather than later. Here's a link to the registration page: 2010 SOUTHEAST ACA REGIONAL MEETING REGISTRATION. I've also attached a copy of the registration packet to this note so you can re-distribute to your members.
2. The deadline for securing our block room rate at the Westin Poinsett is Tuesday, September 28, so please have your folks make their reservations within the next two weeks. Here's the HOTEL RESERVATIONS PAGE.
3. Please nominate one of your deals for Syndication prior to the the (extended) deadline of Tuesday, September 28. To nominate a deal, simply refer it to the ACA Southeast Angels Group (listed under North Carolina) in AngelSoft. Remember that qualified deals must have received an investment or signed a term sheet with the sponsoring group. If you run into any issues making a nomination, please just contact me directly.
4. In order to facilitate our discussion at the meeting related to Syndication efforts in the Southeast, please take 3 minutes to complete this SYNDICATION PREFERENCES SURVEY. We will discuss the survey results and their implications during the afternoon session on October 20.
5. Finally, we are planning to have a panel discussion on day two of the meeting related to your experiences with implementing strategies for Early Exits. If you have an instructive story on how your group has successfully executed or made preparations for an Early Exit, please contact me so we can include your story in our discussion.
Thanks very much, please let me know if you have any questions, and we look forward to seeing you in a few weeks.
Best regards,
Matt D.
Thursday, August 26, 2010
Alabama Launchpad opens registration for Governor's Business Plan Competition starting Aug. 30th
Alabama Launchpad will open registration for the 2010-11 Governor's Business Plan Competition on Aug. 30th.
Interested parties may see eligibility and rules here, and may register here.
"The purpose of the Alabama Launchpad Governor's Business Plan Competition is to promote and reward marketable, high-growth, innovative ventures that have the potential to grow rapidly, transform an industy, attract future funding, and add to the diversity of Alabama's economy. The competition is for new, independent ventures in the seed, start-up or early growth stages, or for the expansion of an existing business into a new high-growth market.
On an annual basis, Alabama Launchpad will seed three winning companies with cash and in-kind services:
1st Place = $100,000 cash plus in-kind services
2nd Place = $50,000 cash plus in-kind services
3rd Place = $25,000 cash plus in-kind services"
Interested parties may see eligibility and rules here, and may register here.
Friday, July 23, 2010
Recap - Birmingham Angel Network meeting last night
We had a smaller (typical for summer) but very engaged crowd last night to hear our two presenters, Transaction Tree and YouthMinistry 360.
Jason Shapiro with Transaction Tree engaged the crowd with a lively discussion on POS systems, e-receipts and the direction of commerce in the digital age. Les Bradford and Andy Blanks of YouthMinistry 360 then gave an inspiring discussion about youth ministry and working with teens and those supporting them.
All in all it was a fun night and a good time was had by everyone. For those that couldn't make it we would love to see you at the next BAN event and we certainly expect to hear more from our presenters as they grow into the future.
www.birminghamangels.com
Jason Shapiro with Transaction Tree engaged the crowd with a lively discussion on POS systems, e-receipts and the direction of commerce in the digital age. Les Bradford and Andy Blanks of YouthMinistry 360 then gave an inspiring discussion about youth ministry and working with teens and those supporting them.
All in all it was a fun night and a good time was had by everyone. For those that couldn't make it we would love to see you at the next BAN event and we certainly expect to hear more from our presenters as they grow into the future.
www.birminghamangels.com
Tuesday, July 13, 2010
Birmingham Angel Network meeting next Thursday night (6-8pm).
Birmingham Angel Network meeting next Thursday night (6-8pm) at Innovation Depot.
We will be having a couple of company presentations and it should be a typical slower and more relaxed summertime meeting, so a great time to bring a guest.
www.birminghamangels.com
See you there.
We will be having a couple of company presentations and it should be a typical slower and more relaxed summertime meeting, so a great time to bring a guest.
www.birminghamangels.com
See you there.
Wednesday, June 16, 2010
Basic steps for raising capital (BAN or otherwise)
1. Does the business idea/opportunity make sense?
2. What are the initial deal terms?
3. Who are the 1-3 lead investors?
4. Due diligence review
5. Revise the terms per the negotiations with lead investors
6. Begin roadshow process with other investors
7. Open escrow
8. Break escrow when the minimum is raised and continue the roadshow until the offer is full
This seems to be the most consistent process and deals that have tried to skip steps tend to have a hard time.
2. What are the initial deal terms?
3. Who are the 1-3 lead investors?
4. Due diligence review
5. Revise the terms per the negotiations with lead investors
6. Begin roadshow process with other investors
7. Open escrow
8. Break escrow when the minimum is raised and continue the roadshow until the offer is full
This seems to be the most consistent process and deals that have tried to skip steps tend to have a hard time.
Wednesday, May 19, 2010
Birmingham Angel Network - May Meeting next Thursday, the 27th
Brief reminder that the Birmingham Angel Network meeting will be next Thursday evening on the 27th at Innovation Depot. www.birminghamangels.com
We will be hearing from at least one project currently in the roadshow phase and may have one more depending on how fast a couple of items can get finished, otherwise they will be back in the next cycle.
Please feel free to bring a friend and check out the festivities.
We will be hearing from at least one project currently in the roadshow phase and may have one more depending on how fast a couple of items can get finished, otherwise they will be back in the next cycle.
Please feel free to bring a friend and check out the festivities.
Friday, October 30, 2009
BAN Letter:
This email sent to the attendees and members following the BAN presentation meeting last night...it truly was a very good meeting and I am really proud of our group.
BAN,
I want to take a minute to thank our BAN sponsors, to everyone who helped out and to those who attended last night's meeting. It was definitely the best yet.
We had well over 20 in attendance with both Facilitaire and Tattoo Armor presenting and we had an active Q&A period for both. The webcast even seemed to work with only minor hiccups, thanks to a lot of help from Katie. For members that were not able to attend I will be sending out a link to the webcast recording along with rating sheets in a short bit.
I have briefly reviewed the rating sheets from last nights attendees and it clearly shows we had an engaged group with some insightful review that I think will be instructive to both members and companies alike. *(I will be compiling those and sending out a summary once the non-attending members get a chance to review.)
On a membership note, we picked up some excellent new members as well and look forward to their participation. For visitors that didn't get a chance to grab an application, I have one attached as well.
Thanks again to all who helped out and I look forward to seeing you all soon.
This email sent to the attendees and members following the BAN presentation meeting last night...it truly was a very good meeting and I am really proud of our group.
Wednesday, September 30, 2009
Birmingham Angel Network Selects 5 for Presentation Pool
Last week the Birmingham Angel Network had our 3rd Quarter screening meeting along with this months Birmingham Entrepreneur meeting.
It was a big crowd at innovation depot that came to hear Roddy McKinney speak about how he grew Satellites Unlimited into a major player in the TV market and no one was dissappointed. Mr. McKinney has a great charm and wit that was on full display, along with a deep knowledge of sales and how to grow a business.
Following the speech, we had a great group (including several new members) stay to evaluate the business plans. After over an hour of review, we finally voted to accept a slate of five companies into the presentation pool including:
1. The Manning Group, LLC
2. Facilitaire, Inc.
3. Strawfire, LLC
4. AlwaysHD, Inc., and
5. Innovative Products, LLC DBA Tattoo Armor, LLC.
Those companies will be assigned mentors and we look forward to following their growth and hearing more about them at future meetings.
There were a couple of other companies that we decided to call and work with a bit in hopes that they can resubmit or maybe participate in an open offer in the future.
Finally, we had some updates on previous presenters and look forward to following their progress in the future, which we hope to formalize with a "Company update" section of our BAN newsletter.
As always, if you would like to become a member, please feel free to fill out an application and forward it on to any of our board members.
It was a big crowd at innovation depot that came to hear Roddy McKinney speak about how he grew Satellites Unlimited into a major player in the TV market and no one was dissappointed. Mr. McKinney has a great charm and wit that was on full display, along with a deep knowledge of sales and how to grow a business.
Following the speech, we had a great group (including several new members) stay to evaluate the business plans. After over an hour of review, we finally voted to accept a slate of five companies into the presentation pool including:
1. The Manning Group, LLC
2. Facilitaire, Inc.
3. Strawfire, LLC
4. AlwaysHD, Inc., and
5. Innovative Products, LLC DBA Tattoo Armor, LLC.
Those companies will be assigned mentors and we look forward to following their growth and hearing more about them at future meetings.
There were a couple of other companies that we decided to call and work with a bit in hopes that they can resubmit or maybe participate in an open offer in the future.
Finally, we had some updates on previous presenters and look forward to following their progress in the future, which we hope to formalize with a "Company update" section of our BAN newsletter.
As always, if you would like to become a member, please feel free to fill out an application and forward it on to any of our board members.
Thursday, September 17, 2009
2010 Southeast Venture Conference - Feb 24-25, 2010
Join the 2010 Southeast Venture Conference in hosting some of the most dynamic high-growth companies in the Southeast, Feb 24-25, 2010 at the Ritz Carlton in Tysons Corner, Virginia.
The Fourth Annual Southeast Venture Conference will feature market relevant investor and executive panels, exclusive networking opportunities, featured speakers and dozens of the region's top private technology firms presenting to a national audience of venture capitalists, investment bankers and private equity investors.
The Southeast Venture Conference highlights both early stage and later stage investment opportunities from: Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and Washington DC.
The sold-out 2007, 2008 and 2009 SEVC’s held in Research Triangle Park, NC, Tysons Corner, VA and Atlanta, Georgia respectively featured over $80 billion in private equity investment capital represented in attendance.
Click here to see a sampling of some of the 2009 investor attendees.
Who Attends the SEVC? Close to 1000 of the region’s leading Entrepreneurs and High Growth Company Executives (from Startups to Pre-IPO), National Venture Capitalists and Private Equity Professionals, M&A facilitators and other leading professionals serving the high growth technology community.
The Fourth Annual Southeast Venture Conference will feature market relevant investor and executive panels, exclusive networking opportunities, featured speakers and dozens of the region's top private technology firms presenting to a national audience of venture capitalists, investment bankers and private equity investors.
The Southeast Venture Conference highlights both early stage and later stage investment opportunities from: Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and Washington DC.
The sold-out 2007, 2008 and 2009 SEVC’s held in Research Triangle Park, NC, Tysons Corner, VA and Atlanta, Georgia respectively featured over $80 billion in private equity investment capital represented in attendance.
Click here to see a sampling of some of the 2009 investor attendees.
Who Attends the SEVC? Close to 1000 of the region’s leading Entrepreneurs and High Growth Company Executives (from Startups to Pre-IPO), National Venture Capitalists and Private Equity Professionals, M&A facilitators and other leading professionals serving the high growth technology community.
Wednesday, August 19, 2009
Tech Venture Conference 2009 - Call for Presenting Companies & Sponsors
TECH VENTURE CONFERENCE 2009 We are seeking the best startup and emerging technology companies from throughout the southeast to pitch and demo their innovations.
PRESENTING COMPANIES APPLICATION https://tampabayceo.wufoo.com/forms/presenter-application/ * Application Deadline is September 25, 2009
ABOUT TechVenture Conference 2009 connects entrepreneurs and executives of startup and emerging technology companies from throughout the Southeast with venture capitalists, angel investors, corporate buyers, economic development agencies, technology transfer professionals, university researchers, incubators, media, successful entrepreneurs and premier service providers. Whether you are an investor seeking access to new deals, or a CEO or Founder of a new venture looking for funding, visibility and growth, TechVenture Conference is one event you won’t want to miss.
WHEN/ WHERE Monday, November 16, 9:00am – 8:00pm Hyatt Regency Downtown Tampa, 211 N. Tampa Street, Tampa 33602 SPONSORED BY University of South Florida College of Business, USF Center for Entrepreneurship, Bayshore Solutions, How Do You Innovate?, TechDrawl, Shotput Ventures, Startup Florida, Tampa Bay CEO Magazine, TechLoaf
SPONSORSHIP OPPORTUNITIES Receive significant exposure for your part in making TechVenture Conference 2009 possible. Numerous marketing materials will be distributed in anticipation of the conference Sponsors receive exposure through: print advertising, web presence, email marketing, direct mail, booth space, program book, and on-site recognition.
Request sponsorship information: https://tampabayceo.wufoo.com/forms/request-conference-information/ TechVenture Conference 2009 is a non-profit 501c(3) entity Conference website: http://www.TechVentureConference.org
PRESENTING COMPANIES APPLICATION https://tampabayceo.wufoo.com/forms/presenter-application/ * Application Deadline is September 25, 2009
ABOUT TechVenture Conference 2009 connects entrepreneurs and executives of startup and emerging technology companies from throughout the Southeast with venture capitalists, angel investors, corporate buyers, economic development agencies, technology transfer professionals, university researchers, incubators, media, successful entrepreneurs and premier service providers. Whether you are an investor seeking access to new deals, or a CEO or Founder of a new venture looking for funding, visibility and growth, TechVenture Conference is one event you won’t want to miss.
WHEN/ WHERE Monday, November 16, 9:00am – 8:00pm Hyatt Regency Downtown Tampa, 211 N. Tampa Street, Tampa 33602 SPONSORED BY University of South Florida College of Business, USF Center for Entrepreneurship, Bayshore Solutions, How Do You Innovate?, TechDrawl, Shotput Ventures, Startup Florida, Tampa Bay CEO Magazine, TechLoaf
SPONSORSHIP OPPORTUNITIES Receive significant exposure for your part in making TechVenture Conference 2009 possible. Numerous marketing materials will be distributed in anticipation of the conference Sponsors receive exposure through: print advertising, web presence, email marketing, direct mail, booth space, program book, and on-site recognition.
Request sponsorship information: https://tampabayceo.wufoo.com/forms/request-conference-information/ TechVenture Conference 2009 is a non-profit 501c(3) entity Conference website: http://www.TechVentureConference.org
Sunday, August 16, 2009
Angel Networks doing some networking (and growing)
Ok, so there have been a ton of developments since the last update.
1. There is a strong push to put together a North Alabama Venture Club sponsored by and modeled after the Birmingham Venture Club.
2. In addition to the Huntsville, Shoals and Birmingham Angel groups there are groups trying to form in Decatur and Mobile.
3. The Hunstville Angel Network and one of the group's companies has set a great presedent of active syndication among the other Alabama networks by presenting on a cooperative basis to the Shoals, Birmingham and a core of the forming Decatur group.
4. The Birmingham Angel Network had four companies present at the last meeting resulting in at least 6 different member investments.
Also, there will be a 2009 Technology Innovation Awards Summit at Hudson/Alpha celebrating Rotary Leads Together's award as this years winner for information technology.
All for now.
1. There is a strong push to put together a North Alabama Venture Club sponsored by and modeled after the Birmingham Venture Club.
2. In addition to the Huntsville, Shoals and Birmingham Angel groups there are groups trying to form in Decatur and Mobile.
3. The Hunstville Angel Network and one of the group's companies has set a great presedent of active syndication among the other Alabama networks by presenting on a cooperative basis to the Shoals, Birmingham and a core of the forming Decatur group.
4. The Birmingham Angel Network had four companies present at the last meeting resulting in at least 6 different member investments.
Also, there will be a 2009 Technology Innovation Awards Summit at Hudson/Alpha celebrating Rotary Leads Together's award as this years winner for information technology.
All for now.
Subscribe to:
Comments (Atom)