The Georgetown Angel Network
Who will you fund Next?
The following membership application for the Georgetown Angel Network, a project of the Georgetown University Alumni Association, Inc. ("GAN"), is designed to verify your eligibility: (i) to join GAN as a member and (ii) to invest in investment opportunities as an accredited investor.
This application is the first step in a review and evaluation process undertaken by GAN of all applicants. GAN will use this information to evaluate your investment experience, sophistication and preferences. Completion of this application does not guarantee admission as a member. GAN will follow up with you for additional information and to discuss next steps in the admissions process.
For years, Georgetown alumni, faculty, and administrators have been talking about building an angel network to connect Hoya investors and entrepreneurs. For investors, a network holds the promise of generating valuable deal flow (access to investment opportunities) with promising early stage startups. For student and alumni entrepreneurs, plugging into an alumni-focused angel network provides one-stop access to a pool of investors who might otherwise be difficult to reach and find.
+ OVERVIEW OF ALUMNI ANGEL NETWORKS
Other Universities and their alumni have already established alumni angel networks. An estimate by Pitchbook puts the number at over 40 and a Google search of “alumni angel network” reveals pages of results. It appears that Wharton’s network began in 2007. The following is a brief list of alumni angel network associated with Georgetown University-peer institutions:
• Cornell Angel Network
• Wharton Alumni Angel Network
• Berkeley Angel Network
• HBS Angels Alumni Association
• Princeton Alumni Angels
• Stanford Angels & Entrepreneurs
• Dingman Angels (University of Maryland)
• Carolina Angel Network (UNC Chapel Hill)
There are various models ranging from lightweight networks that limit their role to introducing investors and entrepreneurs, to angel venture funds in which alumni and the affiliated university pool funds in a centrally managed investment vehicle.
In all of the models, the alumni angel networks have a symbiotic relationship with the philanthropy goals of the affiliated university.This is what makes alumni angel networks unique. And this is where the opportunity for Georgetown lies.
+ THE OPPORTUNITY FOR GEORGETOWN
For Hoya-preneurs, finding capital is one of the biggest challenges of launching a new venture. Georgetown is in a unique position to help these investors when they need it the most, at the earliest stages of giving birth to an idea. For most entrepreneurs, this happens many years after they graduate. This is a moment when Georgetown can re-engage and become a valued partner as an entrepreneur plants a seed for a new business that can someday grow into a giant tree.
For Hoya investors, a network of like-minded alumni provides deal flow, connections, insight, and a broader pool of capital that mitigates risk. Even more than in most industries, investors depend on professional networks for their success. By convening an investor network, Georgetown establishes itself as an ally for investors. Over time, these interactions provide multiple opportunities for Georgetown to identify with and engage alumni who are investors investors that might not otherwise be known or connected to the University.
GUAA already engages with entrepreneurs and investors through the cornerstone annual programs of the Georgetown Entrepreneurship Alliance (GEA). Both cornerstone programs are closely integrated with headline GUAA programming: the Alumni Pitch Competition (John Carroll Weekend) and the Entrepreneur of the Year Awards (Homecoming). An Angel Investor Network provides another synergistic opportunity to engage these communities. When we add Angel Network gatherings to existing GEA events, it builds a center of gravity that gives entrepreneurs and investors more reasons to attend headline GUAA events.
The University is also actively engaging investors and entrepreneurs through the Georgetown Entrepreneurship Initiative (GEI, aka Startup Hoyas), led by Jeff Reid in the Business School. The GEI has its own network of investors and entrepreneurs. An Angel Network becomes a rallying point to integrate these communities and activate them around GEI academic programming.
+ EFFORTS TO DATE
Jeff Reid has been spearheading work on an Angel Network for several years, and is currently working to establish a program through GEI and the Business School. Meanwhile, existing alumni investors and entrepreneurs who are actively seeking connections with one another. Through this pilot, GUAA has an opportunity to initiate an early prototype of the network that can serve as the seed for a more formal program.
+ ABOUT THE PILOT
The GEA is proposing a volunteer-led pilot of an angel network that would start with a single meeting where prospective investors can review and evaluate the Epicured investment opportunity:
• The pilot will be a single 1-hour conference call where the CEO of Epicured will present the investment opportunity to prospective investors.
• Following the call, any interested investors will have an opportunity to share their contact information with the CEO.
• The CEO will then follow up individually with each investor. Any investment would be negotiated individually between the CEO and the investor.
The prime imperative of the pilot program is to begin convening a network of investors in the simplest, most nimble manner possible. As a sense of community begins to emerge, the program will evolve organically to meet the needs of its constituents. Following the first call, the GEA will evaluate the results of the pilot with all relevant parties and determine next steps, with an eye toward organizing 2-3 additional calls over a 6 month period. The volunteers who organize the calls will seek investment opportunities, screen them, and lead outreach to investors. During the pilot, participation in the network will be limited to alumni investors and entrepreneurs.
The GEA will execute the pilot in coordination with university staff. Volunteers will coordinate their outreach and communication with the Office of Advancement, ensuring that the program operates smoothly with other GUAA and University initiatives.
Georgetown Angel Network
Neither the Georgetown University Alumni Association, Inc. ("GUAA") nor the Georgetown Angel Network, a project of GUAA ("GAN"), is an investment advisor, venture fund, investment bank, broker, dealer or investment clearing‐house. The GAN is a forum of GUAA in which select members of the Georgetown alumni community ("Members") may be educated on aspects of investing in emerging companies and introduced to companies for possible investment. Neither GUAA nor GAN is registered as an investment advisor, broker/dealer or in any other capacity with the Securities Exchange Commission or any state securities commission, and neither GUAA nor GAN recommends or otherwise provides advice with respect to investments in any company, security or industry. Each Member is responsible for his or her own investigation and investment decisions. All investments in startup companies involve a high degree of risk, and investors should be able to bear the risk of complete financial loss of their investment. The choice to use, manner of utilization of, and information and knowledge gained through, GAN is each Member's individual choice. No guidance shall be given by GUAA or GAN, nor shall any person affiliated with GUAA or GAN (or GUAA or GAN themselves) be responsible for a Member's use of the information, investment decision or the results of any investment. Neither GUAA nor GAN conducts any investigation to verify the information submitted to potential investors by entrepreneurs and makes no representation or warranty of any kind regarding the investment opportunities presented or the materials provided through this network. Neither GUAA nor GAN provides any tax, compliance, reporting, legal or other advice, and Members should seek appropriate professional assistance in connection with their consideration of each investment opportunity.
GUAA AND GAN EXPRESSLY DISCLAIM ANY AND ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND OR NATURE, EXPRESS OR IMPLIED, AS TO THE INFORMATION AND MATERIALS RELATING TO ANY INVESTMENT OPPORTUNITY PROVIDED THROUGH GAN. AS A CONDITION TO YOUR PARTICIPATION IN GAN, TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, YOU HEREBY WAIVE AND RELEASE ANY AND ALL CLAIMS, CAUSES OF ACTION OR OTHER RIGHTS THAT YOU MIGHT HAVE AGAINST GUAA, GAN AND EACH OF THEIR OFFICERS, DIRECTORS, EMPLOYEES AND OTHER MEMBERS ("GAN PARTIES") ARISING OUT OF OR RELATING TO ANY INVESTMENT OR ANY MATERIALS MADE AVAILABLE TO YOU THROUGH GAN. IN NO EVENT SHALL THE GAN PARTIES BE LIABLE (JOINTLY OR SEVERALLY) TO YOU FOR ANY LOSS OF INVESTMENT, LOSS OF PROFIT, LOST DATA, BUSINESS INTERRUPTION OR ANY OTHER DAMAGES, INCLUDING SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH GUAA, GAN, ANY INVESTMENT PRESENTED THROUGH GAN AND ANY INFORMATION OR MATERIALS OBTAINED THROUGH GAN, ON ANY THEORY OF LIABILITY, AND WHETHER OR NOT A GAN PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.