ACA Angel University Basics is virtual! Take advantage of this unique opportunity to learn from experienced gurus.  See below for exact program dates from March 8 to 11, 2021.

Separate registration is required for each of these programs.  Certificates of completion with professional angel investing training hours will be awarded for each registrant completing the entire track. 

 

 

 

Should you include angel investments in startup companies in your asset portfolio?  Join ACA in a workshop 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, , 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 workshop 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.

 

Due Diligence Workshop 
 

 

Based on the Wiltbank* study, due diligence prior to investment has been demonstrated to be a critical success factor in angel investing.   This workshop covers the essentials of due diligence including forming an effective DD team, deal killers, the key components evaluating deals, how to dig into the deal and the process of completing task.  The class will include lectures with adequate time for Q&A plus exercises to reinforce the elements of due diligence. 

* Median returns from this 2007 study were 2.6X monies invested.  For deals for which less than a cumulative 20 hour of due diligence by angels was completed, returns were 1.1X.  For deals on which angels completed greater than 20 hours of due diligence, angels enjoyed returns of 5.9X.

 

 

You’ve met the founding team and really like the company.  Now it’s time to know if the deal is right for you.  As a new angel, you’ll need to understand the term sheet, the document that outlines the terms and conditions of the agreement between the investors and the startup.  This introductory workshop provides clear, practical information on early-stage term sheets, focused on helping newer angel investors understand deal terms.  The workshop includes lectures and interviews, using a publicly available term sheet template for seed and early stage preferred shares deals.  The course will build your understanding of sound term sheets aligned with the interests of both entrepreneurs and early-stage investors, and setting the stage for follow-on investors.   

Valuation Workshop 
 

 

Negotiating the current valuation of seed-stage startups at the time of investment is a critical component of angel term sheets.  Getting valuation right establishes a fair percentage of ownership for both investors and entrepreneurs and optimizes returns for investing angels.  This clinic introduces participants to valuation issues and demonstrates multiple valuation methodologies.  The lead instructor will provide some insights into the impact of COVID-19 on the valuation of startup enterprises, based on the financial downturns in 2001 and 2008.  The program leaves attendees with an exercise to help hone their newly acquired valuation skills by using these valuation methods in appraising a case study company.