Thank you for your interest in Full Membership in ACA. Please take a look at the information below including membership benefits, criteria & terms and feel free to contact us with any questions you may have.

ACA Full Membership:

This membership type is open to:

  • Active groups of angel investors investing predominately in private equity through a member-directed investment process.

Full Membership Benefits

  • Discounts for all individuals in the member group to attend annual ACA Summits, regional and special interest meetings, and ACA Education workshops
  • Invitation for group leadership to attend the ACA Group Operators/ Leaders Peer Group. 
  • Access to the Members-Only section of the ACA Web site and receipt of special publications that include data and information on specific items such as best practices, syndication guide, member data and deal flow.
  • Participation in committees (Public Policy, Collaboration, etc), generally held via conference call and email, but in-person during the annual Summit.
  • Reports on US federal and state public policy issues of importance to angel investors.
  • Discounts on services for angel investors from select partner organizations. 
  • Use of public relations tools to promote the angel group to its local press, including an announcement of ACA membership.
  • Use of the ACA member logo on angel group's Web site and printed materials, the right to place the angel group's logo on the ACA Web site, and listing on the ACA directory of angel groups. 
  • Such other benefits as identified and provided to Full Members.

Download a full listing of membership benefits for angel groups.

Criteria for Membership

Membership is granted at the discretion of ACA's Membership Committee or Board of Directors, based on evaluation of membership criteria:

Full Membership

  • The participants in the organization are predominantly individuals.
  • Participating investors are actively engaged in investment of their personal capital.
  • The participants or, in the case of an angel fund, a subset of the participants make investment decisions on opportunities presented to the full group. Individuals do not delegate investment decisions to a third party. (Seed Funds & MicroVCs are eligible for connection to ACA via our Affiliates program.)
  • The group holds regular meetings as part of its investment process.
  • The group has defined processes and procedures for making investment decisions.
  • The organization has held an investment meeting within the 12 months prior to the application (If not yet active, plase proceed with Provisional Membership).

Examples of qualifying groups include, but are not limited to:

  • Member-managed angel groups
  • Manager-led angel organizations
  • Angel investment funds
  • Angel groups with no formal legal structure

Non-qualifying entities include those in which participating investors are not involved in the investment decision process. Examples:

  • Broker/dealers
  • Investment advisors and bankers
  • Venture capital funds (Although these organizations may qualify as Affiliates:Please instead complete ACA Affiliation Interest Form)
  • Stock clubs
  • Groups in which the primary members are organizations rather than individuals
  • Statewide or regional associations of angel groups (although these organizations may qualify as Affiliates: Please instead complete ACA Affiliation Interest Form)

Full Membership Terms

  1. All ACA members agree to abide by ACA by-laws, the ACA member code of conduct, and actively promote the intent and spirit of the by-laws.
  2. Full Member groups will be required to annually re-qualify for membership, including agreement to all membership qualification requirements.
  3. All ACA members including member groups and their individual participating investors, agents and representatives, recognize and respect the confidential nature of individual member information and agree to maintain such confidentiality.
  4. Member groups recognize and agree that certain information regarding the group, but not its individual participants, may be made publicly available in furtherance of ACA's by-laws. Member groups will cooperate with ACA in all manners for the promotion of the ACA mission, including response to research surveys by ACA.
  5. All members and member groups agree to a "total non-solicitation policy" related to all affiliates, sponsors, partners, and other members of ACA. Direct, unsolicited contact with ACA member angel groups using the contact information obtained from the ACA website, meeting attendance lists or other non-public sources is specifically prohibited. ACA has a "zero tolerance" of this non-solicitation policy and reserves the right to terminate members for any such offense.
  6. ACA's Board will set the annual Full Membership fee schedule, and ACA membership renewal will be conducted annually. The membership term is traditionally July 1 through June 30th of each year ut membership is granted on a rolling basis. New members join for a full year and are offered the opportunity to get on the regular schedule the year following. 


It is understood that ACA is not a venture fund, investment bank, broker/dealer, investment clearinghouse, investment portal nor any other form of investment advisor or otherwise, and is not registered with the Securities and Exchange Commission or any state securities commission. Any investments made involving one or more ACA member organization, or individuals in one or more member groups, or individual members of ACA, is done so at the sole risk and responsibility of those making the investment decision and does not in any manner involve or relate to ACA. All members will indemnify ACA for any and all actions or proceedings relating in any manner to ACA being named a party in an action or proceeding involving an investment of any kind by a member or individuals comprising the member, or entities, representatives or agents of member or individuals comprising the member.

Membership Termination

ACA membership is subject to annual renewal, non-renewal, revocation or termination by the ACA Board. ACA membership may be terminated or revoked at the discretion of ACA Board, should it be determined that an ACA member group or individual has become an inactive angel investor for more than 12 consecutive months, or should any member or member agent or representative breach any term of ACA membership. The decision of the Board of Directors is final.

Membership Dues


Annual membership is provided on a rolling annual basis.  

Number of Individual Investors in Member Group
Annual Fee
Individual Investor
Group of up to 70 Investors*
Group of 71-100
Groups of 101-200
Groups of 201 - 350
Gruops of 351+

Please note that ACA reserves the right to complete a background check on any individuals applying for membership in ACA. Please contact our offices with any questions you may have.