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Raising Money From Angels in Difficult Times

  • 11 Nov 2008
  • 7:00 PM - 9:59 PM
  • Meeting at Emerging Enterprise Center at Foley Hoag, 1000 Winter Street, Suite 4000, Waltham, MA. PRE-MEETING DINNER at 5:15 PM (sharp) at Bertucci's, Waltham.

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Meeting Presentations:

Chris Sheehan , Managing Director of CommonAngels. Chris Sheehan, Managing Director of CommonAngels, Presentation

Andrew Hanson, Founder, The Connecticut Angel Guild, Presentation

Angel investing fills that gap between friends and family funding and venture capital. According to the UNH Center for venture research, total angel investment in 2007 was $26 billion, with more than 57,000 entrepreneurs receiving funding. Recent banking industry turmoil has led to rethinking of investment strategies. Our panel will comment on what has changed for those seeking capital from angels.

Our panel will describe how should the entrepreneur with limited funds raise money from angels; how does the angel select the investments; how should an entrepreneur approach an angel; what does the angel expect in return; what is the role of an angel network?

Our panel of angels will describe how they and/or their network identify, communicate, vet and make decisions on opportunities. They also describe the roles the angels take post investment. A question and answer session will follow with a round table discussion on the current state of angel investing.

Panelists Include:

Chris Sheehan , Managing Director of CommonAngels. Chris Sheehan, Managing Director of CommonAngels since 2005. Within CommonAngels, Chris manages deal flow, due diligence and the investment process. He also guides the group's strategic direction and works closely with portfolio companies. He is also a managing director of the group's two $10M venture funds and focuses on IT, internet and digital media. Chris represents CommonAngels as either a director or observer on the boards of Carbonite, Outside the Classroom, Owner IQ, Xconomy and GateRocket. Chris also serves on the board of the Center for Woman and Enterprise.

Previously, Chris founded Newburyport Partners, a consulting firm that works with investors and their portfolio companies. Chris also served as a venture partner at Industry Ventures where he was actively involved in the acquisition and management of venture portfolios.

Prior to starting Newburyport Partners, Chris was a Director of Corporate Development for BEA Systems, a leading enterprise software company with over $1B in sales. At BEA, he was a key member of the corporate team responsible for all venture capital investing and M&A activity. He was also part of the executive team for one of the company's product divisions. Prior to BEA, Chris led the private equity practice for the Cambridge based start-up, Stax Inc. Chris also spent six years with the top ranked investment bank in Australia. He started his career as an equity analyst focusing on the oil and gas sector. He holds a Bachelor of Commerce degree from the University of Queensland, Australia.

Andrew Hanson, Founder, The Connecticut Angel Guild. Andrew Hanson has been an angel investor since 2000. He founded the Connecticut Angel Guild on behalf of the Connecticut Venture Group. The Connecticut Angel Guild invests across the Northeast. Mr. Hanson is a member of the Board of Directors of the Connecticut Venture Group (CVG) and chairs the Judging Committee for the Crossroads Venture Fair. He invests in an average of two companies a year, and has invested in multiple rounds in the same company. His current interests are: sustainable energy, health care cost control, and the use of the internet to improve markets and lower distribution costs. He has taken an active role as an angel, and served, from time to time, as Chief Financial Officer. Prior to becoming an angel investor, he was a portfolio manager and investment analyst for a number of firms including a hedge fund, a family office, and a national brokerage firm. He received his MBA from Northwestern University.

Moderator:

Joseph Sabatini, President of the Innovation Network, LLC. The Innovation Network is a consulting group that specializes in assisting new and emerging companies in formation, strategy, commercialization, capital acquisition and cost management. Prior to founding the Innovation Network, he was a Partner and Director in Arthur D. Little's Technology and Innovation Management Practice. He was also the Vice President of Operations of TurboChef Technologies, a leading developer of commercial appliance technology, recently sold to Middleby Corporation. He was instrumental in licensing the company's products to Maytag Corporation. Earlier in his career, he was consultant to clients in the advanced materials, energy and chemical sectors. He began his career in the aerospace and defense industry. He is a member of the Board of Advisors of Reliable Laundry Products and Guild Data Services (Dubai).