Currently based in Atlanta Georgia (originally founded in Santa Fe, New Mexico) Gathering of Angels brings together venture capital companies, angel investors and investment bankers and allows entrepreneurs to make presentations that could lead to funding. The process significantly different than presenting a simple business plan to a potential investor. The Gathering of Angels process works like this:
Meet the Entrepreneur
The potential business owner pays a fee of $2,500 to Gathering of Angels and in return is awarded an opportunity to promote their business. The promotion is limited to six presenters per event. The presentation must be no more than 20 minutes and is followed by question and answer session that typically lasts approximately 5 minutes. In return, the entrepreneur does receive some services including coaching, mentoring and assistance with the presentation. Making a presentation does not guarantee that a business will obtain funding.
Meet the investors
Investors are invited to the Gathering of Angels forums after they have been fully vetted. In some cases, these investors are small business owners who have reached levels of success in their own business. Other investors include companies who provide venture capital and investment bankers. These investors are prepared to invest in any venture that falls within acceptable guidelines. Investors are not obligated to accept any proposal.
Understanding the guidelines
Generally, capital that is provided by Gathering of Angels ranges between $150,000 and $1.5 million. These investors are looking for high rates of return on their investments which may pose certain challenges for entrepreneurs.
Company background
Gathering of Angels was founded in 1996 by Tarby Bryant with the goal of providing start up capital to small business owners. Since that time, they have provided more than 350 loans to start up businesses. The company enforces the notion that entrepreneurs must have a solid business plan, have extensive knowledge of their industry and have “skin-in-the-game” by putting their own capital into the business.
Entrepreneurs face many challenges when seeking funding for their start-up business. Gathering of Angels may be an option if all other methods of obtaining financing have been exhausted. However, it is important that before a potential business owner shells out $2,500 to secure financing that they are absolutely certain that they have a solid business plan, great industry knowledge and are prepared to make a sacrifice in the form of equity in their business.
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