New York Angels www'newyorkangels'com

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New York Angelswww.newyorkangels.com

• Presentation to the Angel Capital Association
  Summit
• April 27, 2006

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Who We Are

• Structure
• Formed as non-profit corporation from NYNMA group
  in 2004
• Member led group
• 7 member board of directors sets policy
• Full time executive director
• Individual investments no LLCs or sidecar fund
• 3 sponsors provide cash, in-kind services and
  space
• Statistics
• 64 active members (includes 4 VCs and 1 family
  office)
• 15.3 Million invested in 21 companies since 2002
• 84 of members of more than 9 months have invested

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Financial Model

• Sources of Funds
• Membership Fees
• 3,500 for individuals
• 7,000 for VCs, etc.
• Sponsors
• 150 per company application

• Uses of Funds
• Staff (83 of budget)
• Full time executive director
• Full time financial analyst (to come)
• Part time MBA Interns
• Part time AV expert
• GA (17 of budget)

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Crisis and transition

• Founded as a program of a trade association
• No structure or self-leadership
• They spoke trade association, not investor
• Conflict of financial interests
• Trade association folds December 2003
• Risk of dissolution
• But also opportunity to reinvent
• We had been coming to ACA meetings!

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Principals of New Group

• Raise the bar!
• In group management
• In what we expect of our members
• Get rid of hangers on
• Go slow
• Demonstrate financial viability first
• Then build membership
• Then add deal process

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The Results
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The Results