Northern Michigan Angels members are primarily former business founders, business executives, and community leaders who have built successful organizations. Members mentor and coach the entrepreneurs they invest in, serve as board and advisory board members, provide contacts, and assist the entrepreneur with strategic planning and follow-on fundraising.
Northern Michigan Angels is not a traditional “managed” venture fund where a professional manager or investment board determines if an investment will be made. While members collaborate on screening potential investment opportunities and due diligence, each member makes an individual investment decision. Northern Michigan Angels is a Michigan Limited Liability Company governed by a Board of Directors.
Northern Michigan Angel members receive many benefits including:
- Access to pre-screened investment opportunities
- Participation with a larger group of sophisticated investors to evaluate investment opportunities
- Opportunity to possibly co-invest with other angel group members in Michigan
- Access to best practices in angel investing, educational opportunities and membership in Angel Capital Association (http://www.angelcapitalassociation.org) with discounts to ACA events
- Opportunities to participate in the due diligence process for those companies you are interested in investing
- Contact list for all NMA members
Membership in the Northern Michigan Angels is by invitation only and is extended to individuals who share the organization’s vision.
Northern Michigan Angels membership criteria are:
- They are accredited investors as defined within SEC rules;
- They have track records managing and building successful companies either as entrepreneurs or operating executives;
- The level of involvement by individual members is left to each member’s discretion. Typically angel investment groups see one-third of the members actively involved in all aspects of the group, including screening, due diligence, and investment meetings, identifying new investment opportunities, post-investment support with the remaining members either occasionally or rarely involved and relying on the opinions of the more active members when making investment decisions;
Members are expected to invest a minimum of $5,000 for each deal you invest in and set a target of $25,000 to invest annually. There is no mandatory minimum annual investment