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Pre-seed Stage Seed/Start-up Stage FUNDING GAP Early Stage Later Stages Founders ’ Friends & Family Angel Investors Very few angel deals done above $1.

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Presentation on theme: "Pre-seed Stage Seed/Start-up Stage FUNDING GAP Early Stage Later Stages Founders ’ Friends & Family Angel Investors Very few angel deals done above $1."— Presentation transcript:

1 Pre-seed Stage Seed/Start-up Stage FUNDING GAP Early Stage Later Stages Founders ’ Friends & Family Angel Investors Very few angel deals done above $1 million Very few VC deals done below $4 million Venture Capitalists $0$250K $1.5 million $4 million $10 million & up

2 Financing Life Cycle Discovery Proof-of Concept Product Design Product Development Manufacturing/ Delivery IdeaPre-seed Funding Seed Funding Expansion/Mezzanine Operating Cap. Friends and Family Angels Seed Funds Venture Funds Founder Institutional Equity Loans / Bonds Angel Groups Start-up Funding SBIR Phase IPhase II

3 New Company Formation (USA) Source of Equity Funds – Typical Year

4 Source: Business Dynamics Statistics Briefing: Jobs Created from Business Startups in the United States. Kauffman Foundation, January HAIL TO THE JOB CREATORS

5 Who are Angel Investors? Often successful, exited entrepreneurs or retired business persons –Active investors –Invest both time and money in companies Accredited investors - SEC definition ( US & a few others ) Invest their own money (not money managers) Generally invest in local companies Invest at least $20K in businesses not run by family

6 Angels Fund Majority of Startups in US Sources: Center for Venture Research/ UNH; NVCA 2013 Yearbook; PwC MoneyTree $22.9 billion 67,030 deals 23,460 seed 22,129 early stage 21,441 expansion > 268,000 individuals Angel Investors (2012) $26.7 billion 3,723 deals 280 seed 1,647 early stage 1,796 later/expansion 522 active firms Venture Capital (2012) Angels Provide ~90% of Outside Equity for Startups

7 Angels Invest in the Majority of Startup & Early Stage Deals Number of Deals in 2009: Angel Investment and Venture Capital Source: Jeffrey E. Sohl, Center for Venture Research and 2010 NVCA Yearbook

8 Angel Capital Association Today Mission: Fuel the success of angel groups and private investors who actively invest in early-stage companies 185 member angel groups 8,500+ accredited investors 20 affiliated organizations 51 states/ provinces Charitable partner:

9

10 Median Angel Round Size Dips Slightly for the Year… 10 *Angel rounds include angels & angel groups only $980K $900K $990K $500K $625K $600K $M

11 Median Early Stage Pre-Money Valuation Stays the Same in *Including all rounds with angel groups before Series A $2.5M Median $1.5M 1 st Quartile $3.7M 3 rd Quartile $0.11M $6.6M

12 Share of Mobile Deals Grows, Healthcare Shrinks Share of Angel Group Deals by Sector 2012 vs


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