Band of Angels

Established in 1994, Band of Angels is Silicon Valley's oldest angel investment organization, comprising over 150 former and current high-tech executives. The group has funded more than 400 companies, achieving 97 profitable mergers and acquisitions and 17 initial public offerings. Band of Angels focuses on seed-stage high-technology and life science companies with strong teams, proprietary technology, and large market potential. They do not invest in real estate, restaurants, retail, or funds. The largest investment made by the Band was $3.3 million in Sendmail in 1998. The group meets monthly to formally consider startups selected from among the more than 50 that are screened each month. Additionally, they hold Special Interest Group meetings in Los Angeles to facilitate deal flow and engagement from Southern California to Northern California. Band of Angels members are generally successful high-technology founders or executives interested in investing in high-risk startups. They collaborate in due diligence and invest as individuals, often providing mentorship and guidance to portfolio companies. Entrepreneurs can expect a thorough examination and, occasionally, an investment from some of Silicon Valley's most accomplished entrepreneurs. To present to the Band, entrepreneurs are encouraged to review the Frequently Asked Questions and email BandHQ@bandangels.com. The membership process includes completion of a Member Information Form and meetings with several members of the Membership Committee for informal conversations. The culture of the Band is to recognize that its members have led serious careers and can decide for themselves how best to use the opportunities made available through the Band. Therefore, there are no firm performance criteria on the membership. Nevertheless, it is generally expected that members attend a third of the meetings, invest in one deal per year, help with diligence on potential investments, make their networks available to each other, keep confidential information confidential, and strive to maintain the Band’s conviviality.