Contact may be made through several channels. Members of FAN are encouraged to refer any investment solicitations to FAN. Entrepreneurs can also contact FAN directly, by filling out an application on our ProSeeder platform.
FAN is pleased to discuss investment readiness and access to capital with any entrepreneur at no cost.
Below is a flow diagram of our funding process:
An entrepreneur that is interested to apply to the First Angel Network for investment must first apply thought the portal firstangelnetwork.proseeder.com. Click on “Company Sign Up” and follow the screen prompts. Ce prepared to provide your personal information, company information, business plan, projections, and pitch deck.
Upon receiving the application, FAN will review the business plan, projections and leadership team to determine if it has the potential to gain the investment support of our membership.
This stage involves a great deal of document collection, review, and confirmation of facts. Where applicable confirmation from a third party will be required, for example IP projection and company registration status. This stage we will also look at the market, competitive landscape and exit strategy.
Term Sheet/Deal Negotiations
We work with the company to negotiate a Term Sheer prepare the legal documents and provide coaching on presenting to the membership. A term sheet is a non-binding document that outlines the structure and conditions of an investment deal.
Present to Membership
FAN arranges for the entrepreneur to present to the membership. Only one company is presented at each meeting so the while focus is on you and your company. After the meeting and investment memo is sent to the whole membership.
Decision and Close
After the company has presented to the membership, it is up to each individual member to decide on investing. FAN will follow up with all members after the meeting to answer questions and collect subscription agreements. The entrepreneur then will then get all the closing documents together.