Forming Angel Groups - Provisional Membership

Thank you for your interest in Provisional Membership in ACA. This membership type is groups (networks or funds) in the formation stages. If you're group is already making investments, please consider apply for Full Membership. 

Please take a look at the information below including membership criteria & terms and feel free to contact us with any questions you may have.

ACA Provisional Membership

In order to provide expertise & collaboration partners to groups in the formation stages, ACA provides the option of a Provisional Membership option to organizations. Provisional Members may be networks or funds which have good faith intent to meet the criteria for full membership within twelve months of the ACA application.

Provisional Membership Benefits

• Discounts for all individuals in the member group to attend annual ACA Summits, regional & special interest meetings, and ACA Education Workshops
• Invitation for group leadership to participate in our ACA Operators Peer Group.
• Access for 12 months to the Members-Only section of the ACA Web site and receipt of special publications that include information that shall include data and information on specific items such as best practices, 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.
• Receipt of reports on US federal and state public policy issues of importance to angel investors.
• Access to the ACA discounted services from select partner organizations.
• Such other benefits as identified and provided to Provisional Members.

Download an overview of ACA benefits for investors.

Criteria for Membership

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

Provisional Membership

This type of membership is open to groups that are in formation or that intend to hold their first investment meeting within 12 months of the application date and to meet all requirements for Full Membership within that same time period. Examples of initiatives in this category include:

• Groups that have met all Full Membership criteria, but have yet to sign up two or more members or have yet to hold a regular membership meeting
• Angel funds that are in the process of raising their fund/ have not closed their fund
• Initiatives that are in the process of selecting or developing investment and individual investor recruiting processes, procedures and structures

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. Member groups will be required to annually re-qualify for membership, including agreement to all membership qualification requirements.
3. Provisional Members must provide regular status reports to their ACA mentor during their provisional membership term. Provisional Members must update ACA when becoming active and/or if the group does not, in fact form. The group can reapply for Full Membership at a later time when it has held its first investment meeting of individual participants, has multiple investors participating in the angel groups activities and meets the qualifications for Full Membership.
4. 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.
5. 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 and the Angel Investor Foundation.
6. 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 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.
7. ACA's Board will set the annual Full Membership fee schedule, Provisional Membership fee, and ACA membership renewal will be conducted annually and provided on a rolling year basis. 

Disclaimer

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 any member or member agent or representative breach any term of ACA membership. The decision of the Board of Directors is final. Should a Full Member group become inactive, the group may remain connected to ACA via our Affiliates program or each individual is eligible for our Individual Membership program.

Membership Dues

Annual Membership is provided on a rolling basis. Applicants join and the first membership year begins upon receipt of dues.  

PROVISIONAL MEMBERSHIP:

Angel groups that are in formation will be charged a flat fee of $995 once they are accepted for Provisional Membership. The fee covers benefits for up to one year. A group may apply for Full Membership any time within the period when they have met the requirements for Full Membership. 

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.