Membership Process and Qualifications
1. Applicants for membership must be accredited investors, as defined by the SEC.
2. Applicants must be financially capable and willing to honor up to three (3) capital calls per year, one for each of three (3) deals closed, in the amount of not less than $10,000.00 per deal, for a total commitment of $30,000 (3 x $10,000) per year. A member may invest more than $10K per deal if desired. New members have a six month “grace period,” during which they may opt out of any capital call, while they become familiar with the group’s processes and culture. After this grace period, honoring capital calls becomes mandatory and is an understood part of “collaborative investing.” There are also opportunities to invest in follow-on rounds of portfolio companies (companies previously invested in), and such opportunities are wholly voluntary (not required as a condition of membership).
3. Applicants may signal their interest in being invited to apply for membership either by asking a current New World Angels member, or click here.
4. The Membership Committee Co-Chairs screen individuals who have asked to be considered for membership, and those approved are sent a basic set of membership forms and a pro-rated dues schedule. Dues are $1,500.00 annually, and cover both the costs of meals at the eleven (11) monthly dinner meetings, as well as the operating overhead for the group. Dues charged to incoming new members are pro-rated on a quarterly basis for the inaugural membership year.
5. Once your membership forms and dues check are received, membership applicants will meet personally with at least two (2) members of the Board of Directors to review all aspects of membership and to answer any questions.
6. Subsequently, the Board of Directors reviews and votes upon membership candidates at its monthly Board meetings. If an applicant is declined for any reason, the dues check is refunded immediately and in full.
7. Additional questions concerning membership may be emailed to email@example.com.