1. Application for funding
2. Screening by WA Angel Investors deal screening Committee
3. Deal flow process
4. The pitch
5. Unsuccessful applications
6. Due diligence
7. Term sheets
Entrepreneurs requesting funding support need to submit and complete all relevant sections on the funding application form using Gust. Additional documents should be attached including an executive summary of the business plan, financial documents, description of market opportunities and how commercialisation will be achieved. All documents submitted to WA Angel Investors should be non-confidential information.
Each funding request will be screened by the Perth Angels deal-screening committee for evaluation.
The Executive Officer or a WA Angel Investors member will contact the entrepreneur and coordinate a meeting to further discuss the deal. Having been briefed by the entrepreneur, the deal will be presented informally by the lead member to all WA Angel Investors members at the next meeting. If interest in the deal is indicated by the members, the deal will be posted to a secure and private “deal room” on Gust and will now be visible to all Perth Angels members. The deal room is the collaboration centre between the entrepreneur and Perth Angels members. The entrepreneur will be able to store deal-related documents, exchange messages and receive information from Perth Angels members.
If the deal has generated sufficient interest, the entrepreneur will be invited to pitch their deal to the WA Angel Investors members at the next members meeting. The entrepreneur will be guided and mentored in the preparation of their presentation (10 minutes plus 5 minutes Q&A). Meetings are held quarterly from February to December. The presentation must be provided to the Executive Officer no less than one week prior to the meeting to confirm that all required information is included, the entrepreneur should only provide non-confidential material.
A proposals that is not selected for presentation may still be described briefly at the same Perth Angels applications Investors meeting; if it attracts any interest from members it may be considered for a full presentation by the entrepreneur at a subsequent meeting or interested members may make contact directly with the entrepreneur.
Each Perth Angels member will consider whether the investment proposal suits his or her investment goals, and if so, a single confidentiality agreement (CDA) will be put in place between the investee and Perth Angels. The potential investors will carry out any due diligence under the CDA arrangements.
Assuming at least one member decides to invest and term sheet discussions are satisfactory, a “deal” will be agreed, including a charge to cover due diligence services and administrative fee that is a calculated as a percentage of the investments made by the Perth Angels members. The term sheets also mentoring arrangements, reporting requirements and typically, representation of one investor member on the investee’s Board of Directors. The investor members, acting together, will assist with any co-investments that may be needed by the investees.