ACA offers four “Pre-Summit” seminars as additional education for Summit attendees and local investors, entrepreneurs and ecosystem players interested in a deeper understanding of important investment topics.  Separate registration is required for each of these Pre-Summit programs on May 16 and 17, before the ACA Summit starts. 
 
Angel Investing Basics:
 

Angel Investing Deeper Dive:

Monday, May 16

1:00pm - 4:00pm (Registration and coffee available at 12:30pm)
$225 members, $275 non-members, $25 discount for those attending the Summit
 
Should you include angel investments in startup companies in your asset portfolio?  Join ACA in a half-day seminar introducing accredited investors to the fundamentals of angel investing, led by seasoned pros.  This is a great chance to get information and insights to determine if angel investing is right for you, to meet other angels to connect to as you consider investment opportunities, and to learn the key points of making good investments.  Many experienced angels tell us they wish they would have had education like this when they first started – it might have saved them some money. The seminar will provide insights into angel investing as an asset class, with a focus on anticipated returns, portfolio strategy, valuation of early-stage companies, conducting due diligence, understanding term sheets and angel involvement in portfolio companies after the investment. Attendees receive a detailed workbook, as well as a copy of the book The Fundamentals of Angel Investing by Hambleton Lord and Christopher Mirabile (a $25 value), as part of their registration.
 

Monday, May 16

1:00p - 4:00p (Registration and coffee available at 12:30pm)
$225 members, $275 non-members, $25 discount for those attending the Summit
 

Angels face many challenges when investing in startup ventures. One crucial, but sometimes overlooked, detail is the impact of new funding on the company’s capital structure. Whether funding comes as equity or debt, the savvy investor needs to understand how this round of funding will impact the ultimate outcome for all shareholders. So early stage investors need to be fluent in the structure of cap tables to understand the impact on their potential returns from current and future rounds of funding.

ACA in cooperation with VentureSouth offers entrepreneurs and investors alike a practical education in understanding the details of cap tables through the lifecycle of a startup venture.   This workshop will include a combination of presentations, exercises and a case study to illustrate common cap table mathematics a startup and its investors must consider. Among the important topics to be illuminated are the impacts of: valuation, liquidation preferences, anti-dilution terms, convertible notes, and option pools and vesting.

This workshop assumes some familiarity with basic cap tables, typical deal terms and Excel spreadsheets. (Basics of cap tables can be gained through the ACA webinar on the topic available here). Participants are urged to bring a laptop or tablet computer to the workshop to enable participation in the exercises.  While this workshop has been presented previously by VentureSouth, this is the initial offering to other members of ACA.  Matt Dunbar, Managing Director of Venture South and a Board member of the Angel Capital Association will serve as lead instructor for this workshop.

**ACA highly recommends bringing your laptop/tablet to this program to fully participate in this interactive program.

Tuesday, May 17

Risks in Angel Investing

9:00a - 12:00p (Registration and coffee available at 8:30am)
$225 members, $275 non-members, $25 discount for those attending the Summit
 

Startup companies fail at an alarming rate, so it is not a surprise that angel investing is a high risk asset class.  This workshop explores both the risks and rewards of investing in early stage companies.  Learn the specifics of major risk categories and gain insights into the due diligence that is necessary to mitigate these risks.  A case study exercise gives participants hand-on exposure to uncovering and addressing risks in this asset class.

Tuesday, May 17

Angel Exit Strategies
9:00a - 12:00p (Registration and coffee available at 8:30am)
$225 members, $275 non-members, $25 discount for those attending the Summit
 

Exit strategies may be one of the most misunderstood aspects of angel investing and this workshop serves to shed a light on how angels and their portfolio companies can work together to achieve the most successful exits.  Value creation for angel backed companies is different than for lifestyle companies and the primary difference lies in how we craft the exit strategy.  This workshop covers the kinds of exits and how to prepare for each.  We talk about what the drivers are for high multiples and how companies can build in value from the very beginning of their companies.   The workshop finishes with the “Exit Strategy Canvas” that walks participants through the six key elements of exit strategy.  The exit strategy canvas helps boards to create a variety of exit scenarios and work towards optimal outcomes for all.