By David Verrill, Managing Director of Hub Investment Group 

Many angels have noticed the unique capabilities of entrepreneurs from outside the US to build great companies. Now, finally, so has the American federal government (noting that our colleague Canadians have been all over this for some time).  The Department of Homeland Security released rules that would allow more foreign born entrepreneurs to stay in the US longer to grow their companies.  One of the main requirements is for angels or VCs to invest in their companies.  The rules will become final after a review of comments to the first public draft. 

The following is part of our periodic ACA Blog series highlighting ACA member expertise and insights on resources for angels.  The topics will vary and include ways ACA angels are making best use of their time – and often ACA benefits – to make smart investment decisions.  This tip is how Women’s Capital Connection engages their members in educational discussions based on ACA webinars. Thank you Aviva Ajmera for sharing! 

We look forward to more member tips for angels.  When you have a resource to share with angels please contact Sarah Dickey, ACA Membership Director to learn more. 

By: Aviva Ajmera, Women’s Capital Connection

I used to take the ACA webinar emails for granted—just another email in my inbox— but what I found is they could help us learn. As Vice Chair of the Executive Committee one of my responsibilities is group education. Although every member in our group is a subject matter expert in something, we aren’t all experts in every aspect of angel investing. We have members that are veteran investors and we have investors new to angel investing,  ACA Webinars have been a great addition to our group development. 

By: Cheryl Isen, Media Relations for Angel Capital Association

Assurex Health is one of three companies that won the Luis Villalobos Award for innovation that also had an exit within one month in 2016.  Details on each of the exits are included in three blog posts on October 10.

  • Company: Assurex Health founded 2006; won Luis Villalobos Award in 2012

Assurex Health is a personalized medicine company dedicated to helping healthcare providers get the genetic information they need to determine the right medication for individual patients suffering from neuropsychiatric and other medical conditions. Assurex Health’s proprietary technology is based on pharmacogenomics— the study of the genetic factors that influence an individual’s response to drug treatments—as well as evidence-based medicine and clinical pharmacology. The “GeneSight” test was developed in the Assurex Health clinical laboratory and is based on patented technology licensed from two world renowned medical centers, Mayo Clinic and Cincinnati Children’s Hospital Medical Center, which continue to be research collaborators.

By Cheryl Isen, Media Relations for Angel Capital Association

EyeVerify is one of three companies that won the Luis Villalobos Award for innovation that also had an exit within one month in 2016.  Details on each of the exits are included in three blog posts on October 10.

Eyeprint ID, created by EyeVerify, transforms an ordinary selfie into a key that protects your digital life. One look opens mobile devices, logs you into apps and secures your mobile payments. The patented, software-only biometric solution is 99.99% accurate and extremely scalable. In less than one second, with no add-on hardware, employees and customers can experience password-free mobility. Several large Android device manufacturers and a growing number of notable financial institutions have deployed “Eyeprint ID,” delivering convenient, secure, private authentication to millions of consumers today.

By: Cheryl Isen, Media Relations for Angel Capital Association

Retrosense Therapeutics is one of three companies that won the Luis Villalobos Award for innovation that also had an exit within one month in 2016.  Details on each of the exits are included in three blog posts on October 10.

RetroSense is developing life-enhancing gene therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa and advanced dry age-related macular degeneration. There are currently no FDA-approved drugs to improve or restore vision in patients with these retinal degenerative conditions. The company's approach to using optogenetics in vision restoration is based on pioneering, proprietary research conducted at Wayne State University and Massachusetts General Hospital. RetroSense has worldwide exclusive rights to the relevant intellectual property from both institutions. 

By: Solomon Brenner, member of Keiretsu Forum Mid-Atlantic and Managing Director at Startup2angel

This post originally appeared on Startup2angel.

They all sounded good. All of them. I entered the world of angel investing 18 months ago and came to the immediate conclusion that every company seemed like a good idea. It’s like when I first started training in karate and thought every punch would result in a knockout. Surely, every opportunity wasn’t going to be the instant knockout investment success. Considering I couldn’t – and obviously shouldn’t – invest in all of them, I started looking for places with tips that I could use to help analyze each option.

Diane Perlman, Global CMO at MassChallenge

This post originally appeared on

With startup growth up 61% since 2014 and more investment programs emerging, it can be overwhelming for founders to know just where to jump in. As the most startup-friendly accelerator on the planet, MassChallenge has helped 835 startup companies around the world, who have raised over $1.1 billion in funding and created over 6,500 jobs. We have seen startups at all stages of growth and know whether the current need is an investment, support, or both, there is an option out there for you.

By: Swati Chaturvedi, Medium/ @propel(x)  

This blog initially appeared on Dissected by propel(x) blog on Medium.  It shows how one angel investor thinks about valuations.  Other angels may have different thoughts or calculations, but it is a resource for entrepreneurs to learn about the equity raising process.

Putting a value on your visionary idea — you know, the one that’s going to change the world — can be tricky. To you as a founder, your idea is priceless. To investors…not so much. In reality, it’s investors’ job to think about it differently and press down on valuation. Understanding their perspective with regard to valuation will help your fundraising efforts go smoothly and net you the investments you’re after.

So, how can startups bridge the gap between the investors’ thought process and theirs? A good place to start is by understanding how angels and VCs think about valuation and their portfolio as a whole. Then, startups should consider some basic data and work backwards to arrive at an implied valuation.

By Chris McCannell, Partner at Eris Group

Editor’s Note:  ACA wants to share with our members our progress in Washington.  It’s an important use of member dues, and we believe it is worth every penny.  We work with Eris Group on American public policy issues, and have had great results in the last year – from a 100% exemption on investment gains to House passage of bills that would ensure that demo days are not included in general solicitation and increasing the number of investors in an angel fund or syndicate from 99 to 249.  With Eris Group, ACA has also helped move the conversation about the definition of accredited investor to a more positive one (in angels’ view), and we are now regularly sought out by Members of Congress and other organizations for input and support of legislation and policy issues.

ACA learned in 2010 that Congress and regulators could have a huge impact on angel investors and the startups angels support.  ACA was able to ensure Dodd-Frank didn’t increase the financial thresholds for the accredited investor definition then, but the association learned it needed help from DC professionals to protect angels through that experience.

By: Christopher Mirabile, ACA Chair, Launchpad Venture Group, and co-founder of

This post originally appeared on

Note: This article is part of an ongoing series on Early-Stage Deal Terms. To learn more about navigating term sheets and investment documents, download this free eBook today - Understanding Early-Stage Deal Terms.

Active angels work with term sheets regularly, but not every investor fully understands the sometimes arcane language in these highly-specialized documents. What are term sheets, what do they signify, and why are they so important?

If you will walk through this short series on deal terms with us, we can explain. Although it is a fairly complex subject, we have a relatively simple framework we can use to help all angels understand term sheets better and retain and apply that understanding in real life deals.

Non-Binding; Summary Instructions