By Linda Smith, ACA Chair

Auckland’s ICE Angels are awesome!  As soon as you step into their innovation center (called the ICE House) which was previously a textile mill, the vibe is palpable.  Young entrepreneurs are collaborating in one corner, an  executive MBA program is housed within the facility, planning is proceeding for the next Innovation Showcase, an in-house Accelerator is over-subscribed, and one wall is completely covered with the logos of the more than 126 companies in the ICE Angels portfolio.

 This Auckland group of over 160 members has invested more than $80 million since its founding in 2003.  A lot of the dynamism behind ICE Angels is due to to Robbie Paul, the Chief Operating Officer for ICE Angels.  Robbie brims with enthusiasm as he talks about young companies like Crimson Consulting (helping secure admissions to the best universities in the world, now valued at $200 million), and Sunfed  Meats (a product that tastes just like chicken but made with pea protein ).

By Linda Smith, ACA Chair

Sydney Angels celebrated a 50th anniversary, of sorts—since their founding in 2008 they have invested in over 50 start-ups.  I had the opportunity to meet with several of their Management Committee members including Richard Dale, Karen Farley, and Adrian Bunter while in the exciting city of Sydney, Australia.

During our conversations, Sydney Angels (SA) credited Tech Coast Angels and the Kauffman Foundation as reference models and trusted sources of information and educational content that was helpful to SA in its formative years.  They also praised the work of Rob Wiltbank and would welcome sharing data about angel investing, including the new ACA data strategies report being developed by Rick Timmins and the Data Strategies Task Force led by Steve Flaim.

By: Ethel Rubin, PhD, Entrepreneur-in-Residence, NIH Office of the Director Office of Extramural Research

Looking for a deal in your backyard? The NIH is the world's largest investor in early stage life sciences companies. Over 1000 companies annually tap into NIH’s SBIR and STTR program for nondilutive funding to the tune of $980M in FY17. Did you know the NIH maintains RePORTER, an online database, of all funded companies and projects? This link will take you to what's been funded this fiscal year, but you can query the database yourself to look for companies specific to your interests. There are over 25 different ways to search and visualize the data with built in analytics (click on the Data & Visualize to create graphs and more you can export directly to PowerPoint and Excel).

By: Ham Lord, Managing Director of Launchpad Venture Group and Co-Founder of Seraf-investor.com and Christopher Mirabile, ACA Chair Emeritus, Managing Director at Launchpad Venture Group and Co-Founder of Seraf-investor.com.  Readers can learn more at the Summit session, “Valuing Startups: A New and Nuanced Approach” with both Hambleton Lord and Christopher Mirabile speaking.

This post originally appeared on Seraf-investor.com

Having evaluated four common methods for valuing early stage companies, it's time to take a closer look at the Seraf Method which builds on everything great that has come before it (with the debt of gratitude acknowledged!), but adds key refinements necessary to make it work reliably in real life.

In a nutshell, the Seraf Method consists of four simple steps, which we have boiled down into three worksheets and a look-up table.

By: Marianne Hudson, ACA Executive Director

As we celebrate the beginning of 2018, the Angel Capital Association celebrates a good 2017 for many of our member angels, groups, and platforms.  Many of you had awesome exits, which is always something to celebrate!  Media outlets such as the Wall Street Journal, New York Times, Xconomy, and Forbes covered your milestones, great years, and recommendations to investors for great best practices or to entrepreneurs on raising equity capital.  And with #MeToo making big news in 2017, we especially appreciate our many members who provided true action to bring more women and people of color to angel investing.  Here are just some of our favorite articles about and by ACA members last year:

By: Marianne Hudson, ACA Executive Director

I thought you would be interested in a handy summary of the tax reform bill, the Tax Cut and Jobs Act, which was signed into law by the President just before the Christmas holiday.  It is by Bloomberg Government and was done before some small tweaks by the Senate, but should be pretty close to the final law.

There are three things to know about tax reform that affect angel investors and new companies, most of which ACA supported and promoted on Capitol Hill:

By Lucy Howell, ACA Director of Partnerships 

After a 20-year career in financial services, I joined the Angel Capital Association as director of partnerships exactly one year ago this month. Over the past year, I have met hundreds of angels, entrepreneurs, community development leaders, bankers, sponsors and policy makers interested in this critical niche. Angels are the biggest funders of high-growth new businesses, which created nearly all net new jobs in last 25 years. Yet, I am surprised by how little is known about this unique angel investing world. I thought it would be fun to recap my top 12 takeaways from the year to shed some light on this amazing group of people and the impacts angels have had, not only on me, but on their local ecosystems.  

By: Marianne Hudson, ACA Executive Director

ACA members have known for years that people from other countries make AMAZING entrepreneurs.  This is one of the main reasons ACA has supported policies like startup visas and the International Entrepreneur Rule to ensure that more of these entrepreneurs from other countries can stay in the US and create innovative and job creating companies.

Now we have a new source of data on international entrepreneurs – Immigrant Founders of the 2017 Fortune 500 – by the Center for American Entrepreneurship (CAE).  The report comes amid the ongoing debate about US immigration policy – and, most immediately, debate regarding the policy known as Deferred Action for Childhood Arrivals (DACA).

By: Marianne Hudson, ACA Executive Director

I’m so grateful for the insights, wisdom and guidance we hear from ACA members.

We are in the midst of a robust strategic planning process that many ACA Board members have put in an unbelievable amount of time into.  I’ll spare you the full process, but a key piece was a survey of members and the extended startup support community.  You told us you value ACA education programs and public policy work, and wanted us to provide even more education, data-driven insights, and guidance regarding smart practices in angel investing. 

It’s a “ta-da” moment. ACA is announcing two new strategic initiatives that provide what you asked for.   

By: Marianne Hudson, ACA Executive Director

The Angel Capital Association joins the National Venture Capital Association, Center for American Entrepreneurship and many others in thanking Congress for dropping a proposed tax on equity compensation of startup employees that would have devastated the way many high growth companies pay their employees.  The proposal was in both House and Senate bills for tax reform.  The experience of watching many organizations form a coalition and explain to House and Senate leaders how the proposal would have damaged an incredibly important part of our economy also showed us how much power we can have in Washington, DC when we work together.

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Model Deal Terms Expectations Summary Memo by Ham and Christopher LM  on  November 27
Pitch-Perfect Pitch Deck by Sheldon Hamburger  on  November 02