FAQ | Alliance of Angels

Membership

WHAT WE'RE LOOKING FOR

We are always searching for the most active angel investors to join our group. During the new member selection process, we look for diverse industry and professional credentials to support our sector agnostic investing strategy. We also look for those willing to commit more than just checks, those willing to participate deeply in the diligence process, company mentoring, outreach, and our robust educational programs.

*Accredited Individual Investor Note: Investments resulting from introductions by AoA may involve a high degree of risk. AoA has not evaluated or endorsed the merits of any investment opportunities presented through its services and makes no recommendations regarding the appropriateness of particular investment opportunities for particular investors. Each potential investor may rely on his, her or its own judgment regarding the merits of a particular investment opportunity. Participating in AoA is limited to investors who qualify as “accredited investors” under Regulation D of the general rules and regulations under the Securities Act of 1933 of the Securities and Exchange Commission AND who have such knowledge and experience in financial business matters that they are capable of evaluating the merits and risks of prospective investments.

INVEST ALONGSIDE EXPERIENCE

Investing alongside experienced angel investors enables the pooling of capital and aggregation of expertise from multiple industries and operational skills, resulting in more effective due diligence, terms negotiation and board stewardship. Our members are very active conducting extensive due diligence on two to three companies every month. AoA is experienced in setting up SPV's.

QUALITY DEAL FLOW

Members attend monthly meetings where 3 to 5 companies deliver investor pitches. These companies are selected from the 30+ companies that are actively sourced by AoA each month and screened via a process that has been honed over the last 15+ years.

INNOVATION FUND

Alliance of Angels Innovation Fund makes $150k investments in around a dozen companies over the course of a year. The Fund moves quickly, typically making decisions within 6 weeks of the AoA screening meeting. When a company is successful with the Fund they often receive additional capital from individual AoA members.

This member-led fund capitalizes on the experience and expertise of our extensive member network and over 50 fund participants. The annual fund is sector agnostic and invests in a diverse set of early-stage companies.

Any companies interested in an investment from the fund should apply to AoA through standard process by clicking here.

SUPERIOR RETURNS

AoA’s internal rate of return (IRR) is about 20%. We calculate our IRR over the prior 10 year period based on total cash invested by our members thru AoA, cash realized from exits, and the current value of non-liquid holdings. Non-liquid holdings are initially valued at cost and written down over time on a linear scale. We do not mark-to-market. Data on investments and returns is obtained from our members, our portfolio companies, as well as from public records.

AoA has celebrated 40+ exits generating more than a billion dollars of returns.

TRAINING AND RESOURCES

Members have access to regular investor education and networking gatherings around the Seattle/Eastside area, which cover topics such as due diligence, term sheets, board governance and exits.

What are the membership options and dues?

Full Individual Membership $2,475 first year, then $1,975 annually Acting primarily on your own behalf as an individual accredited investor. Invitation to all member events, diligence meetings, other activities live and virtual, up to 1 screening committee meeting and 1 guest lunch attendee per year. Online account access to AoA member data room, member messaging, diligence materials, general correspondence. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited. Family Membership $2,775 first year, then $2,275 annually Sameas Individual plus a second family member (spouse, sibling, parent, cousin, child, etc) participating together with each having their own online account. Both may attend all membership events and up to 1 screening committee meeting per year. Both must be accredited. Auto renew as long as remaining active, code of conduct compliant, accredited, family status. Individual Professional Membership $3,575 first year, then $3,075 annually Same as Individual plus up to 1 named professional associate or assistant operating under your direction who does not need to be accredited, each with their own online account. Both may attend all membership events and up to 1 screening committee meeting per year. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited. Individual Virtual/Remote Membership $1,450 first year, then $950 annually Same as Individual except legally residing outside of the Puget Sound area more than 6 months per year (eg: outside King, Snohomish, Pierce, Kitsap counties). An added fee applies to any luncheons or other live events attended, subject to space availability. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited, residency status. Educational Institution Membership $1,975 annually Upto2namedstudents from a higher educational institution with accredited class/program focused on angel funding and related entrepreneurship business planning. Both receive online account access to AoA member data room, member messaging, diligence materials, general correspondence. Both may simultaneously attend all member events, diligence meetings, other activities live and virtual.Annual review and renewal by membership committee required. Requires an active AoA member sponsor to act as liaison. Term start/stop to best coincide with academic calendar. Investment Firm Membership (1) $3,875 first year, then $3,375 annually Acting primarily on behalf of your accredited investment or VC firm. One primary member plus up to 3 named alternates. Each receive online account access to AoA member data room, virtual events, member messaging, diligence materials, general correspondence. Any 1 named member may attend live membership events (rotation is fine) and up to 1 screening committee meeting per year.Primary membership may be transferred within organization to bone fide employees or partners. Auto renew as long as remaining active, code of conduct compliant, accredited. Investment Firm Membership (2) $5,000 first year, then $4,500 annually Acting primarily on behalf of your accredited investment or VC firm. Two primary members plus up to 6 named alternates. Each receive online account access to AoA member data room, virtual events, member messaging, diligence materials, general correspondence. Any 2 named members may attend live membership events (rotation is fine) and up to 2 screening committee meetings per year. Primary membership may be transferred within organization to bone fide employees or partners. Auto renew as long as remaining active, code of conduct compliant, accredited.
How do I apply for membership via Spark?

You can click the "apply for membership" button above. Below is a helpful document with instructions on how to apply.
Can I invest in the Innovation Fund without joining AoA?

You must be a member of AoA to join the Innovation Fund. If you are interested in membership you can submit an application here.

FREQUENTLY ASKED QUESTIONS

What are the membership options and dues?

Full Individual Membership $2,475 first year, then $1,975 annually Acting primarily on your own behalf as an individual accredited investor. Invitation to all member events, diligence meetings, other activities live and virtual, up to 1 screening committee meeting and 1 guest lunch attendee per year. Online account access to AoA member data room, member messaging, diligence materials, general correspondence. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited. Family Membership $2,775 first year, then $2,275 annually Sameas Individual plus a second family member (spouse, sibling, parent, cousin, child, etc) participating together with each having their own online account. Both may attend all membership events and up to 1 screening committee meeting per year. Both must be accredited. Auto renew as long as remaining active, code of conduct compliant, accredited, family status. Individual Professional Membership $3,575 first year, then $3,075 annually Same as Individual plus up to 1 named professional associate or assistant operating under your direction who does not need to be accredited, each with their own online account. Both may attend all membership events and up to 1 screening committee meeting per year. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited. Individual Virtual/Remote Membership $1,450 first year, then $950 annually Same as Individual except legally residing outside of the Puget Sound area more than 6 months per year (eg: outside King, Snohomish, Pierce, Kitsap counties). An added fee applies to any luncheons or other live events attended, subject to space availability. No transfer of membership privileges. Auto renew as long as remaining active, code of conduct compliant, accredited, residency status. Educational Institution Membership $1,975 annually Upto2namedstudents from a higher educational institution with accredited class/program focused on angel funding and related entrepreneurship business planning. Both receive online account access to AoA member data room, member messaging, diligence materials, general correspondence. Both may simultaneously attend all member events, diligence meetings, other activities live and virtual.Annual review and renewal by membership committee required. Requires an active AoA member sponsor to act as liaison. Term start/stop to best coincide with academic calendar. Investment Firm Membership (1) $3,875 first year, then $3,375 annually Acting primarily on behalf of your accredited investment or VC firm. One primary member plus up to 3 named alternates. Each receive online account access to AoA member data room, virtual events, member messaging, diligence materials, general correspondence. Any 1 named member may attend live membership events (rotation is fine) and up to 1 screening committee meeting per year.Primary membership may be transferred within organization to bone fide employees or partners. Auto renew as long as remaining active, code of conduct compliant, accredited. Investment Firm Membership (2) $5,000 first year, then $4,500 annually Acting primarily on behalf of your accredited investment or VC firm. Two primary members plus up to 6 named alternates. Each receive online account access to AoA member data room, virtual events, member messaging, diligence materials, general correspondence. Any 2 named members may attend live membership events (rotation is fine) and up to 2 screening committee meetings per year. Primary membership may be transferred within organization to bone fide employees or partners. Auto renew as long as remaining active, code of conduct compliant, accredited.
How do I apply for membership via Spark?

You can click the "apply for membership" button above. Below is a helpful document with instructions on how to apply.
Can I invest in the Innovation Fund without joining AoA?

You must be a member of AoA to join the Innovation Fund. If you are interested in membership you can submit an application here.