Westchester Angels Core Values and Expectations
• Represent The Westchester Angels and the companies our members consider investing in with dignity and respect.
• Accept the inherent high-risk nature of angel investing .
• Maintain the utmost confidentiality of the information presented from startups and investors.
• Remain transparent and proactively monitor oneself for potential conflicts of interest at all times.
• Understand the challenges that all startups face and try to add value wherever possible.
Investors are encouraged to create a portfolio of angel investments as research shows substantially better returns as the number of investments increases.
• To be active participants in our investment process which includes attending investor meetings, joining DD teams and writing out a check to invest every so often.
• We prefer to grow our membership organically thru our member’s referrals. Accredited Investors are welcome to attend a Westchester Angels Investor meeting as our guest.
• Members are expected make at least 2 referrals per year.
THREE SIMPLE STEPS FOR MEMBERSHIP
While we prefer new members to be referred by existing members, we are open to having conversations with any accredited investor that will agree to embrace our Core Values and Expectations.
Sign a membership form confirming you are an Accredited Investor and agree to our Core Values and Expectations
$1,250 per individual, $1,875 for married couples and $2,500 for investment funds
Pass The Westchester Angels “PLT Test” (Pizza Lunch Test)
We get together at your favorite pizza place to inform potential members about the angel investing space, The Westchester Angels’ approach and to confirm your expectations and objectives are a strong match for the group.
(Bad pizza may endanger your chances of becoming a member!)
BENEFITS OF MEMBERSHIP
Westchester Angels provides a range of benefits to its members
THE BEST DEAL FLOW Sandy Wollman’s initiative, The New York Area Angel Alliance, brings together the leaders of angel groups in the NYC/Tri-State area for monthly calls to share information about startups in each other’s world. Most of the startups that go through our process and pitch to our members, are already in DD with or are being funded by other angel groups.
INVEST IN EXCITING STARTUPS AND WATCHING THEM GROW Angels invest in really young companies; most with less than a handful of employees and little or no revenue. While we do extensive DD, the risks and the unknowns are limitless. However, there is no greater investment thrill than to watch seedling companies grow into big companies.
We profit, by not only watching our investments grow, but also by helping people and businesses grow!
INVESTOR MEETINGS AT VERY KOOL LOCATIONS! Most angel groups have their meetings at attorney’s offices or shared workspaces. The Westchester Angels are changing that model by having our investor meetings at kool locations in Westchester. Art Galleries, Music Halls, Country Clubs, Breweries, Historic Buildings and more!
All of our investor meetings end with food and drink so we can have fun. In addition, investors and startups get to chat in a chill atmosphere. Our due diligence efforts start over a beer and nachos.
INCREDIBLE ACCESS AND NETWORKING Westchester Angels members have direct access to more than 17 Investor Meetings each year providing access to the most compelling start-ups in the Tri-State region. The Westchester Angels recently partnered with the Jumpstart Angel Network of New Jersey, greatly expanding our Deal Flow. The Westchester Angels provides its members the opportunity to create meaningful relationships; both socially and professionally.
SIGNATURE EVENTS Our members have access to prestigious angel events in NYC provided by other angel groups; locations have included The Yale Club, Penthouse overlooking Central Park, The H&M Building overlooking Times Square, and more.
KNOWLEDGE AND INSIGHTS Through the Angel Capital Association — the professional association of active accredited investors — you’ll gain unparalleled insight into trending ideas and public policies, plus access to extensive workshops and webinars tailored for early-stage investors.
CUTTING EDGE TOOLS Members have access to GUST, the premier website connecting start-ups with angel groups. Within GUST, members enjoy access to start-up information both from the Westchester Angels and from other Angel Groups our members may belong to.
LEADERSHIP OPPORTUNITIES Members can help steer the Westchester Angels by serving on the Screening, Event, Membership or Special Event committees.
MENTORING OPPORTUNITIES Members have the option to participate in a range of volunteer activities, made possible by our relationships with Westchester County Executive George Latimer and Deb Novick and Bridget Gibbons of Westchester County Government Economic Development. Element 46 is just one sample of volunteer opportunities provided.
FUN We are serious about investing but insist on having fun along the way.
Why do I have to be an accredited investor to join the Westchester Angels?
It matters to our startups. If they pitch non-accredited investors, this changes their fundraising status, changes their legal framework, and opens them up to lawsuits. To protect the startups, we follow the SEC rules.
How do you verify that I am an accredited investor?
Do guests have to sign accredited investor forms as well?
Am I required to invest?
How do I join the Westchester Angels?
• We will give you a call to answer any questions.
• Sign our Simple Membership Form and agree to our code of Conduct and Expectations.
• Pass the PLT Test – We get together at your favorite pizza place for lunch. This gives us a chance to meet you in person, answer questions, review the angel investing space and our approach (bad pizza may hurt your changes for membership). Most importantly, we see if we are a good fit for eachother
• Submit your membership fee.
Now you’re all set; Welcome To The Westchester Angels!
Come to meetings, meet your fellow Westchester Angels, get involved to support startups with your contacts, knowledge and investment dollars-all while having fun along the way! Meet your fellow Westchester Angels and the most compelling startups to consider. Reap the financial and personal rewards of helping very small companies grow into very large companies!
How often do you meet?
* 6 Westchester Angels Investor Meetings; at kool locations throughout Westchester County; art galleries, historic buildings, music halls and more!
* 11 Jumpstart Angel Investor Meetings
* The opportunity to be attend investor meetings from collaborating angel groups.
Why invest as a group if I make my own decisions?
What is the investment process?
Startups apply to the Westchester Angels for funding on GUST.
We screen abt 6 to 8 startups either from our review of GUST applications
or from warm referrals from our collaborating angel groups
Our selection committee selects 3 or 4 startups to pitch to our investor
If we have enough interest from at least 4 or 5 investors, we then form a DD team. Each DD effort takes on a life of its own and may take weeks or longer depending on logistics and the complexity of the business.
Over 65% of all angel investments will fail across the USA. We compensate for this risk by performing extensive DD in a timely and respectful manor and adding as much value as we can.