What is an angel investor?
An angel investor is an individual who makes direct investments of personal funds into a venture, typically early stage businesses. Because the capital is being invested at a risky time in a business venture, the angel must be capable of taking a loss of the entire investment, and, as such, most angel investors are high-net-worth individuals. These individuals are nearly always "accredited investors" as defined under the Securities Act of 1933.

What is an angel group?
An angel group is a formal or informal assemblage of active angel investors who cooperate in some part of the investment process. Key characteristics of an angel group are: control by member angels (who manage the entity or have control over the entity's managers), and collaboration by member angels in the investment process.

Is membership in BAN restricted?
Yes. Please see the description of membership requirements above, and review the entire content of the Membership Agreement.

How do I learn more about angel investing?
BAN conducts periodic training programs for new members as an intensive introduction to angel investing. Periodically, BAN has speakers on relevant topics as part of the membership meetings. Members also learn from other experienced angel investor group members.

Must I make a minimum number (or amount) of investments each year in order to remain a member?
No, the decision to invest or not and in what amounts is left entirely up to each individual member. However, members are encouraged to be active in the group activities and to treat seriously their role in the group.

How will investment decisions be made?
Once a candidate company has been selected and presented at a BAN membership meeting the group membership will have an opportunity to nominate the company for continuing into due diligence and volunteer for participation in the due diligence process. Once a company is nominated for due diligence members will begin conducting a standardized due diligence process and will prepare a report based on that process. Upon the completion of the report the due diligence committee will vote to go forward with a presentation of the report and an opening of the subscription period, if the offering is oversubscribed each member agrees to accept a prorata portion of the offering equal to the other members seeking to invest.

How will presenting companies be selected?
Candidate companies will submit their business plans to the group office or by the group website. Business plans will be reviewed by the selection committee made up of the board and volunteer members. The selection committee will notify the selected candidates and alternates of their selection and inform them of presentation requirements. Candidate plans not selected by the committee will be forwarded to the group for individual review and members will be free to contact those candidates directly.

How is BAN run? (Administration, board, etc.)
BAN is managed by the board of advisors, which is composed of the annual sponsors and volunteer members.

How is BAN funded?
BAN is funded by the dues of the annual sponsors, meeting sponsors and members.