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Announcing the Birmingham Angel Network

Entrepreneurs in the Birmingham, Alabama area rejoice!

The recently announced Birmingham Angel Network is here to help.

Group founder Joshua M. Watkins writes on his blog:

"As has been discussed for several years, Birmingham is in dire need of additional startup capital for our many worthy high growth and high tech businesses and BAN will be a great resource for many of those companies."

Watkins is Managing Member of the Watkins Law Firm, one of the few firms in the area that works with early stage companies on all manners of financial transactions, and adds he is looking forward to "seeing the group grow and become a powerful driving force in the Birmingham and Alabama economy."

Companies looking for funding can apply to the group using Angelsoft here.

Accredited investors interested in becoming a member should visit the BAN web site for more information.

Also, for Josh's musings on the state of business and business law in Alabama, check out his blog.

Welcome aboard!

Angel Investors: Patrons of Change

Rachael Qualls, Founder and General Manager of the Angel Capital Group in Tennessee, sat down recently with Marc Krejci of Patrons of Change, a refreshing new podcast devoted to a range of topics including entrepreneurship, technology, philanthropy and other important issues.

Rachael provides valuable insight into the mind of an angel investor.  She discusses how her group got started, ways entrepreneurs can reach out to her angels, and the steps they go through when deciding which companies to invest in.

In addition, Rachael reveals how the group uses Angelsoft to track and collaborate on deals.  Rachael is extremely enthusiastic about what she and her group are doing and adds that she is having a ball doing it!  Rachael, if we can in some way help facilitate funding ideas that may one day change the world, then we are happy to do our part!

Entrepreneurs interested in applying to the Angel Capital Group, click here and follow the instructions.

Listen to the full interview here.

You can also subscribe to the podcast to receive new episodes as soon as they are released.

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About Patrons of Change:

Patrons of Change is a podcast exploring topics including entrepreneurship, technology, philanthropy, social justice, the environment and other issues affecting our world and ways that we can make an impact.

Wisconsin Angel Network: Co-investing article

When angel groups can share and work together on investment opportunities, angel groups and entrepreneurs typically both win.  Entrepreneurs have the ability to get more funding since there are more available investors.  Angel groups have the ability to spread their risk, and get access to more experts.  The Wisconsin Angel Network recognizes this and has a state-wide initiative bringing together all the angel groups in the state and surrounding states to help get the best funding for their entrepreneurs.  The Milwaukee Journal Sentinel recently had a front-page article on the Wisconsin Angel Network's initiative which is a great read.

http://www.jsonline.com/story/index.aspx?id=759445

Angelsoft is proud to be the back-end powering the Wisconsin Angel Network and soon be the back-end powering all of the angel groups in the Wisconsin Angel Network.

 

Referring a Deal from Open Deals back to your group

Open deals can be used as a source of extra deal flow for your investment group. As you navigate from deal to deal putting in Ratings & Reviews, if you find a deal that might interest your investment group, you can simply refer it back to your group. With the click of a button, you can send a copy of this deal to the new submissions folder of your group on Angelsoft, where it is then ready to go through your group's investment process.

 

1) Find the Deal Dashboard:

If you do not know how to find the Deal Dashboard for a deal in Open Deals, please view the Basic Guide to Open Deals tutorial.

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Stephanie Hanbury-Brown wins the 2008 Hans Severiens Award

We congratulate Stephanie Hanbury-Brown for winning the 2008 Hans Severiens Award at the ACA Summit in San Diego.  Stephanie is the founder of GoldenSeeds, which invests in women-led and women-run organizations.  This award is quite prestigeous in the angel investment community and Stephanie is truly worthy of the award in how she has not only promoted and advanced angel investing for women, but the angel investing community as a whole.

Stephanie had the following comments on her experience with Angelsoft:

Sharing With Angelsoft: First User Group Meeting

By popular demand, Angelsoft held its first User Group meeting on May 7th as part of the Angel Capital Association annual conference in San Diego.

There were over 50 people at the standing-room only event, with groups coming from as far as Central America, Maine, Canada, and New Zealand.

The feedback had been that our users really wanted to hear from other users, so we let them do the talking. Our CEO, David S Rose, kicked off the user group meeting with an introduction and very energetic presentation of the Angelsoft vision. After that the users took over.

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Excitement builds for the first Angelsoft User Group Meeting at ACA

Here at Angelsoft, we are rapidly preparing for our first User Group meeting co-inciding with the ACA Summit next week in San Diego.

The theme of the user group meeting is: Unlocking the Network: Sharing Deals with Angelsoft and we have several users slated to speak on the topic. They will cover everything from sharing deals internally, with other groups, and now with OPEN Deals.

If you are an Angelsoft user and you have not yet RSVP'd, please do so immediately as space is limited and running out fast! If you come to the user group event, we will be sure to have your ACA conference materials ready for you, so that you do not have to wait on line at the opening reception.

The event is May 7th, 3-5 PM in the Windsor C conference room located on the third floor of the hotel.

We look forward to seeing you there!

Declining deals with Angelsoft

One of the toughest steps in the investment process is getting back to the entrepreneur to let them know that your group is not going to proceed with their funding request. It can be an emotionally charged situation, and because there are so many more deals out there than capital to fund them, it has to be a regular part of your investment group's activity.

If we look at the positive side of turning down a funding request, we see that many groups use this as an opportunity to provide feedback to the entrepreneurs. Its a critical part of the process where the investors are able to give something valuable back to the entrepreneur, and an opportunity to set them on the path to finding funding from another source or possibly from that group at a later date.

To help with this process we've added the ability to send a "declined email" to the entrepreneur.

Take a look at the tutorial below and let us know what you think!

 

1) Select the deal or deals you would like to decline

Check the box next to the name of the deal, or check the boxes next to the name of all the deals you would like to decline. This feature works in bulk.

 

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Raising funds from outside groups on Angelsoft

So, you have a deal with some serious interest from your group, but not enough to do the full round. This is a great opportunity for you to leverage the Angelsoft network, and get connected to other investment groups nearby. With a couple simple steps, you can post your deal to Open Deals, making a preview available to other Angelsoft users, so they can contact you to discuss the potential of co-investing.

 

Nothing more than a preview will be shared, and once you are contacted you can still decide how you would like to proceed with this group. Its a very fast and efficient way to find more capital, and a huge value you can offer the entrepreneurs applying to your group.

 

Enjoy the Tutorial!

 

1) Select the deal you would like to Co-invest

 

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ACA Southeast Angels Conference - Greensboro, NC

Mark LaRosa, Ryan Pipkin, and Matt Rosen represented Angelsoft at the ACA Southeast Angels Conference last week in Greensboro, NC.  The event was organized and hosted by Troy Knauss and the Piedmont Angel Network.  There were over 60 investors representing 25 groups in attendance. 

Attendees heard presentations from 11 companies that were selected by a committee of regional GM's prior to the conference.  In addition, Ryan gave a presentation on using Angelsoft to facilitate deal syndication. 

Angelsoft sponsored a dinner on Thursday that was just delicious, the weather was perfect, and UNC made The Final Four...

The only thing anyone was left asking was...when could we do it again?  

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