FAQ: Angel Fund Launchpad

All materials will be available for download within the course portal when the course launches.

You can request a full refund within 30 days after the course is released if it’s not what you expected.

Send an email to angels@coreangels.com for a full refund.

The full course will be available in early December. You’ll receive an email notification when it’s ready.

Due to the immediate access to course materials and content upon payment, we do not offer refunds. We encourage potential participants to carefully review the course outline and objectives before enrolling.

If you need extended access beyond the six months, you can request an extension. We understand that life circumstances can vary, and we strive to accommodate such needs.

Yes, upon successful completion of the course, you will receive a digital certificate from COREangels, which you can print or add to your LinkedIn profile to showcase your accomplishment.

The course is designed to be completed at your pace within approximately three weeks if dedicating about 5-10 hours per week. However, the actual time may vary depending on your pace of learning.

The course is priced at 500 Euros. Payment can be made online via credit card or PayPal. All transactions are secure and encrypted.

Participants will have access to the COREangels team for support via email and scheduled webinars. Additionally, there are interactive forums where you can ask questions and share insights with peers.

You will have unlimited access to the course materials for six months from the date of your enrollment. This allows you to revisit the content as often as needed to reinforce your learning.

The course is entirely online and self-paced. Once you enroll, in 48 hours, our team gives you access to video lectures, readings, case studies, and interactive exercises that you can complete on your own schedule.

No, there are no formal prerequisites. This course is suited for both beginners and those with some experience in the investment field who wish to formalize and expand their knowledge.

This course caters to a wide array of professionals interested in angel fund management, including aspiring fund managers, managers of incubators and accelerators, venture capitalists, angel investors, and family office professionals. It's ideally suited for anyone looking to enhance their understanding and skills in fund creation and management.

It includes defining your investment thesis, simulating your fund's economic outcomes, understanding how the COREangels model functions, comprehending fee structures, identifying the ideal angel persona for your fund, and outlining the roles and activities of fund leaders.

COREangels Interational will provide support to its groups in several areas, namely:

• Providing a common platform for angel, startup and investment management

• Administrative support

• Financial analysis support

• Reporting minutes

• Attracting investors Process

• Business flow

• Startups evaluation

• Legal Minutes, and, when necessary, specialized legal services

• Events organization, meetings and activities planning support

• COREangels Brand Support, marketing & Design and PR

COREangels supports the development of professional angel funds and offers individual investors a seamless experience, aiming to maximize outcomes and diversify investments. COREangels creates an environment where investors can get involved, contribute to fostering innovation, develop personally, network, and enjoy the investment journey. Each COREangels fund has the opportunity to present its best investment opportunities to the entire COREangels Community, allowing different funds to collaborate and invest in the most promising startups.

Members of COREangels benefit from various advantages, including:

• Angels Training: Access to specialized training programs to enhance their investment skills and knowledge.
• Global Events: Participation in events that bring together angel investors from around the world, facilitating networking and learning.
• Networking: Opportunities to socialize with other angel investors, share best practices, and build valuable connections within the investment community.‍
• Best Practices: Sharing and learning from the experiences and strategies of other investors within the community.

COREangels is “glocal”, meaning sharing a global brand through vertical and geographical funds of business angels and promoting involvement and long-term commitment with the local ecosystem in each geography. Each angel fund is an independent company. The fund leaders are responsible for managing this company.

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COREangels International has an important role in the development of each fund, preparing and training new fund leaders and defining and guaranteeing governance standards. COREangels supports the leaders in attracting investors, business flow, and startup evaluation, besides the benefits of being part of an international community. COREangels also provides branding, website, setup support, administrative support, documentation support, meetings and activities planning support, marketing support, and tools support (CRM, screening, reporting, financial analysis).

COREangels has developed its own group investment model. All business angels in each group invest together in a startup portfolio of 20-30 startups. Business angels invest in a group managed by group leaders. Each group has its own investment thesis and autonomy in investing decisions. Group leaders are responsible for screening startups and taking them to the Investment Committee. New investments are approved democratically with the vote of the majority of business angels. Each business angel has 1 vote, regardless of the amount invested.

COREangels is a private company dedicated to professionalizing and organizing angel investments through angel groups under the same COREangels brand, principles and processes. Our mission is to create a network of passionate individuals who support entrepreneurs in launching innovative businesses. By investing as a group, COREangels minimizes risk investment, providing structured, professional angel investment opportunities, enhancing the success rates of startups, and fostering a robust ecosystem for entrepreneurial growth.

Yes. First, select a Group of Angels that the thesis fits your profile. The group leader will contact you to provide more information and invite you to the next meeting of the angels' group.

Each Angel Group has its own investment policy. The initial investment indicated is between 20.000 to 50.000 Euros.

Yes. All Business Angels can mentor invested startups. Each startup has an Archangel. The archangel is a business angel who has a close relationship with a particular startup of the portfolio and helps them with their challenges.

There are groups with geographical or vertical investment theses. You can select the geographic thesis that adapts to your location or the vertical thesis that adapts to your skills and interests. Go to the Angels Groups page and get to know the investment theses.

Angel investment is a long-term investment. The return on a startup investment can come in a few months or several years. The average return on investment in a startup is 7 years. A group's life cycle should take place over 10 years.

By a majority of comfort. One person, one vote. There are three types of votes: YES, NO, and MAYBE. For a startup investment to be approved, it needs to have 50% YES votes from the members and less than 33% NO votes. The total number of voting members needs to be more than 50% of the shareholders.

Each angel group has its own deal-flow process, and people dedicated to the task. The investment committee composed by all the angels, decides which startups will be invested. The group leader manages the applicant startups and selects the best for the investment committee.

No, COREangels is inclusive, allowing members to join without needing to be accredited investors. Typically, around 50% of the angels in COREangels are first-time angel investors. Each group within COREangels combines experienced and accredited angels with those who are inexperienced, fostering a robust and dynamic learning process. This approach not only supports the growth of new investors but also ensures that entrepreneurial ventures benefit from a diverse range of insights and expertise.

To be a COREangels investor you need to join a COREangels Group. In COREangels, you can find groups with different investment theses. You can contact the group leader. The group leader will contact you to find out if there is a fit. If it happens, it will be nice to welcome you!

A business angel is an individual who provides financial and knowledge backing for small startups and entrepreneurs, typically in exchange for ownership equity in the company. Business angels could be known as angel investors.

Business angel investors are widely recognized as the main contributors to innovation financing as they give fuel to entrepreneurial startups, providing “smart money” to fulfill their potential. Startups are the primary job-creating engine of the economy, provoking strong local impact, fixing and promoting new talent, improving people’s lives, and adding strong value to society.

Although other types of investors exist, business angel investors have assumed a special role in entrepreneurship since they invest in very early-stage startups where high-risk investment profiles are required. Angels distinguish themselves from other investors as they invest their own money, not the money of others, like venture capital funds.

They are involved with the startups they invest in to add value, and share their expertise and entrepreneurial empathy. Angels usually see themselves as co-creators and co-founders of the startups. In their essence, the purpose of angel investing is value co-creation.

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COREangels Lisbon operates with a well-defined cost structure and fee distribution to ensure professional management and alignment of interests between investors and group leaders. Here is a detailed breakdown:

Cost Structure and Fees

1. Operational Costs:
   • Amount: Up to 1.25% yearly, or a maximum of 12.5% over 10 years.
   • Purpose: Covers necessary expenses to maintain an active company, such as accounting, legal fees, auditing, and some communication and marketing expenses.
2. Management Fees:
   • Amount: 1.25% yearly, or a maximum of 12.5% over 10 years.
   • Purpose: Ensures leaders’ commitment and professionalism. These fees are paid from the investment ticket and are not charged annually or additionally to the angels, unlike typical venture capital funds.
3. Carry (Carried Interest):
   • Amount: 20% of investment profits (from startup exits).
   • Purpose: This is distributed to COREangels International and the group leaders after the investors receive their profits, aligning the interests of the leaders with those of the investors.

Global Cost Structure Distribution at COREangels Lisbon

• COREangels International: 2.5%
• Management: 10%
• Operational Costs: Maximum of 12.5%

Minimum Investment in Startups: 75%

COREangels Lisbon operates with a structure of five boards including the Investment Commiitee. Here’s how the participation works for each board:

• Advisory Board:
  • Participation: Voluntary.
  • Responsibilities: Advises on strategy, governance, rules, organization, representativity, ethics, and new angel attraction.
• Startup Selection Board:
  • Participation: Voluntary.
  • Responsibilities: Identifies and selects startups that will pitch at each Investment Committee meeting.
• Investment Committee:
  • Participation: Mandatory for all shareholders.
  • Responsibilities: Solely responsible for making investment decisions.
• Involvement Board
  • Participation: Voluntary.
  • Responsibilities: Nominates archangels for each startup, ensures angel involvement, monitors startup performance, provides mentoring, and contributes to reporting.
• Exits and Valuation Board:
  • Participation: Voluntary.
  • Responsibilities: Prepares and identifies opportunities for exits, organizes internal shareholder/secondary market transactions, maintains fair valuations for each startup, and supports startups during new funding rounds.

This structure allows for a flexible and engaged community of investors, where individuals can contribute their expertise and time voluntarily, except when it comes to making crucial investment decisions, which is a responsibility shared by all shareholders.

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COREangels Lisbon is a legal identity, a private company registered in Portugal, officially named C-Angels Lisbon SA  NIF 516990560, and owned by all the business angels according to their investment amounts. The new angels enter the company through increments of Capital.

The average investment made by COREangels Lisbon is around €100,000, typically over a period of 3-5 years. However, this amount varies depending on each investor's risk exposure profile and financial capacity. Some individuals may choose to invest significantly more, with amounts reaching €300,000, €500,000, or even over €1 million. This flexible investment approach allows each member to tailor their involvement based on their personal financial situation and investment strategy.

COREangels Lisbon invests between €50,000 to €200,000 per startup that is approved by the Investment Committee. The fund can make follow-on investments in certain startups, but these follow-on investments require additional approval from the Investment Committee.

COREangels Lisbon is a rolling angel fund with a capital of €5 million, aiming to assemble a group of 30-50 business angels. The fund's objective is to invest in a portfolio of 25-30 startups, providing them with the necessary support and resources to grow and achieve successful exits within 5-8 years. This structure allows for continuous investment opportunities and a diversified approach, enhancing the potential for positive returns and fostering innovation within the entrepreneurial ecosystem in Lisbon.

COREangels Lisbon is a geographically focused angel group, focused on the Lisbon region. It operates within the broader COREangels Community, adhering to its mission of organizing and professionalizing angel investment. COREangels Lisbon brings together individuals passionate about supporting entrepreneurs and innovative businesses in the Lisbon area. By combining experienced investors with newcomers, COREangels Lisbon aims to create a dynamic investment environment that promotes learning, collaboration, and successful entrepreneurial ventures. This local group leverages the collective knowledge and resources of its members to provide strategic support and funding to startups in the region.

A diverse group of angels can bring various skills, experiences, and industry knowledge, which enhances the support and guidance available to the startup. This diversity increases the chances of identifying and leveraging opportunities across different sectors.

For more insights and resources on angel investing, join our webinars and workshops at COREangels. Explore our upcoming events at COREangels Events.

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Higher returns are often associated with:

• Angels having expertise in the startup’s industry.
• Angels with entrepreneurial experience.
• Active and ongoing participation in the startup’s development.

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One common pitfall is making follow-on investments to avoid losses rather than to support growth. Additionally, excessive involvement by angels in the startup’s operations can lead to lower returns.

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The relationship should be based on mutual respect and clear expectations. Angels should act as mentors and advisors rather than supervisors, and founders should feel comfortable seeking advice and support from their investors.

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Active participation, such as being on the board or having frequent interactions with the startup, is linked to higher returns. Startups with active angel involvement tend to perform better than those with passive investors.

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Due diligence is crucial as it helps investors understand the startup better. Studies indicate that startups that receive at least 20 hours of due diligence have higher returns, as investors can identify potential red flags and establish a stronger relationship with the founders.

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Angel investors provide “smart money,” which includes:

• Strategic advice and mentorship.
• Access to valuable networks and contacts.
• Expertise in specific industries.
• Assistance with market validation and growth strategies.

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Studies show that startups funded by angel investors are:

• 25% more likely to survive after four years.
• 11% more likely to achieve an exit.
• 19% more likely to reach 75 employees.

Angel investors contribute more than just financial support. They offer mentorship, industry expertise, networking opportunities, and strategic guidance, which can significantly impact a startup’s growth and success.

Various educational resources, online platforms, and angel investor associations offer valuable insights into angel investing. Consider joining local or online groups, attending workshops, or seeking out books and articles on the subject to enhance your knowledge and skills as an angel investor.

To begin angel investing, consider conducting research on startup opportunities, attending networking events, or exploring online angel investment platforms and syndicates. It's essential to learn more about the specific processes and requirements in your area or through the platform you choose to use.

Angel investors often play a supportive role in the startups they invest in. They can provide mentorship, guidance, and valuable connections to help the founders grow their businesses and achieve milestones.

No, angel investing opportunities exist in various regions and cities worldwide. Innovation hubs are emerging globally, and successful startups can be found in many different locations.

Building an angel portfolio, which involves investing in multiple startups to spread risk, is often recommended. Diversifying your investments across different companies can help mitigate risk and increase the likelihood of a higher return on investment.

There are a few ways to get started with angel investing. You can choose to invest directly in startups you believe in, performing your own due diligence and negotiation. Alternatively, you can join crowd-investing platforms or angel investor groups, where experts evaluate opportunities for you. Lastly, you can participate in angel syndicates or clubs, investing with a group of like-minded individuals.

Yes, there are numerous examples of startups that started with minimal funding and became highly successful. For instance, Airbnb initially raised only $20,000 and went on to have an IPO with a valuation of $47 billion. Factorial, a Spanish HR solutions company, took six years to reach a valuation of over $1 billion.

Angel investing is high-risk and often comes with low liquidity. These investments are typically private, making it challenging to sell shares to other investors. Therefore, investors should be prepared for a longer-term commitment and have a clear understanding of the risks involved.

A SAFE contract stands for "Security Agreement for Future Equity." It is a type of contract used in angel investing where an investor provides funds in exchange for the promise of receiving equity in the company at a later date, typically when certain milestones are reached.

Angel investors make money by investing in startups in exchange for equity. When the value of the startup increases, they can later sell their shares or equity for a profit. This return on investment is realized when the startup succeeds and potentially goes public (IPO) or is acquired.

Angel investors typically invest in very early-stage companies, which are usually less than three years old. These startups are still in the process of testing the market to determine if their product or service has a market fit and are often focused on creating innovative solutions that can be scaled.

Angel investing is a type of early-stage investment where individuals provide small amounts of their own money to startups in exchange for equity or a share in the company. Angel investors play a crucial role in fostering innovation by supporting new businesses with the potential to change the world.

You can choose to invest in that startup individually, if the founders accept your investment. Most of our pre-selected startups choose COREangels because of our global community and the smart money provided by a group of angel investors and the diversity of expertise in the group.

You and your fellow group members.

You vote: Yes, No or Maybe for each startup that comes to the investment committee. We have a 1-investor, 1-vote policy so regardless of your investment ticket size in the group, you will always have equal voting rights. The leaders count the votes and if the startup gets a majority Yes, the group invests in that startup.

A demo day is a day where usually more than 10 startups are invited. On big Demo days, you might have 60 founders pitching their ideas.

In an Investment Committee, you are going to see pitches of no more than 3 startups that have already passed a screening process and primary due diligence. Your fund leaders have already done the valuations and the deal is negotiated ahead of time.

Once you join a COREangels fund, there are going to be recurring demo days or pitch sessions of each angel fund where investors of the group listen to 2 or 3 startups that are pre-selected by the fund leaders. You get to ask questions during and after each Investment Committee and vote.

Pick a COREangels Fund in your country or one that is closest to your mission in life. Here is a list of our funds around the world: https://coreangels.com/our-angel-groups.

Make sure the minimum investment ticket and language requirements to join the fund of your choice are met. For instance, If you are based in a European country, speak English, and have a background in Artificial Intelligence, COREangels Big Data & AI might be a good match for you.

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Connect with the leaders and angel investors of the fund that attracts you the most on LinkedIn and get an understanding of the group dynamics.

Once you have chosen an angel fund, apply via their webpage and a leader of the fund will followup with you to set up a call or meeting.

No. COREangels is a community of angels funds that provide capital and create relationships among angel investors and founders.

We invest in your company and support your business to achieve the next level. Each group has its investment thesis and a way to support the evolution of startups consistent with the industry and company stage. The main supports are in management, fundraising, mentoring, hiring, and sales. You will be part of a global community of angel investors and entrepreneurs.

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We usually invest in startups with two or three founders. We understand that only one founder or more than four founders can bring some extra risks. You can apply as a solo founder, but it’s essential to have a clear plan on what areas, who, and how you will bring more talent to the startup. To achieve success is vital to have an excellent team.

In general, COREangels funds invest between €25,000 and €250,000. However, it is necessary to see the investment tickets for each fund. Tickets are adjusted according to the investment phase and according to the characteristics of the local ecosystem of each COREangels fund.

You can see the ticket sizes of each angel fund here: https://coreangels.com/fundraise

Usually, you can start your round with COREangels. If approved, COREangels also supports the process of finding new co-investors. However, the fact of already having inventors committed in the round is a well received. Some of our groups will pay great attention to having committed investors for the round.

To apply is only mandatory the pitch deck. After receiving your application, the COREangels fund will ask for complementary documentation before the individual meeting. The complementary documentation can be the captable, financial information, business plan, and CVs.

No. It’s mandatory to have a pitch deck to apply for COREangels funds.

The pitch deck is a short and efficient way to present your business. While the specific content may vary depending on your industry and business model, here are the typical sections you should consider including:

• Problem Statement; 
• Solution; 
• Market Opportunity;
• Business Model;
• Go-to-Market Strategy;
• Traction and Milestones; 
• Team;
• Financial Projections;
• Funding Requirements;
• Use of Funds;
• Appendix

The investment committee is the moment when you present your startup to all the angel investors of the selected fund. After the presentation they will decide if approve or not the investment deal. 

Typically, there are between 10 and 15 minutes of presentation, for between 20 and 30 minutes of questions and answers.

The central role of the Investment Committee for investors is to review and evaluate investment opportunities. The angel investors review pitch decks, financial information, business plans, and other relevant materials provided by startups seeking investment prior to presentation.

Angel investors evaluate opportunity potential based on a variety of criteria, including business model, market opportunity, team, product or service differentiation, competitive landscape, financial projections, and growth potential. It's essential to show off your secret sauce. The synergy between the startup and the COREangels Fund must be presented to the Investment Committee.

After the investment committee, the angel fund will respond whether or not to invest within a period of up to 10 days.

We invest in the pre-seed and seed stages. If you are raising a round or need a co-investor for your round, you can apply for COREangels Funds.

Not too early, not too late. We finance startups from the pre-seed to Seed stages. We don’t invest in later stages than series A. We invest in the validation and go-to-market phases.

We invest as Angel Fund, so if you receive an investment from a COREangels Fund, it will appear as only one entity in your captable. If a second fund invests in you, then you will have more than one entity in your captable.

No, you don’t need to pay to receive the investment from a COREangels Group. In some Angel Funds, you can have some contracting expenses, for example, a lawyer, due diligence, or notary, but not addressed, for a COREangels Fund.

Once invested by one fund, you will be exposed to be invested by other funds in COREangels. But yes, if you see fit between your moment and other COREangels Funds, you can apply for a second investment. We have many startups co-invested by multiple COREangels funds. Our invested startups use the power of our global community to expand to different geographies and markets.

We have angel funds for different industries and areas, but we are great at supporting the Pre-seed and Seed phases. Here, you will be invested by a group of people who want to give you the up to achieve your milestones. We are investing and supporting you in the very early stage and will make it possible with you to achieve the next level.

Yes, you can apply for more than one fund, but we highly recommend that you select the best two COREangel Funds for you. Great founders deserve the best investors.

We invest as an entity in your startup. The investment can happen in form of equity, convertible note, or SAFE. We can propose a term sheet or we can analyze the term sheet from committed co-investors.

The investment is made within 60 days.

• Application by website
• Feedback from the COREangels Fund by e-mail
• Individual Meeting with Fund Leader.
• Investment Committee
• Contracting & Due diligence
• Onboard in COREangels Community

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The first step is to select the angel fund that fits your startup. You should take into consideration your area, industry, stage, and investment ticket.

Select your fund on https://coreangels.com/fundraise

On this page, you will find the form to apply for funding. Each COREangels fund will have a different form. Usually, the forms are about basic information, verification questions, and a place to include the pitch deck URL.

We are a glocal community. We have different angel funds acting local but sharing a global network.

We look for startups that want to be global or the market leader in their region. We expect an amazing, balanced, and promising founders team.

We invest in startups from pre-seed to seed.

Each of our Angel Funds has specific expertise and focus. For some groups, the Go-to-market is essential, for others can be the validation phase or the internationalization preparation phase. Check them out here: https://coreangels.com/fundraise

COREangels funds are created by hands-on angel investors. First, our angel groups invest capital in your business, but we support way more. Each angel group has its investment thesis and a way to support the evolution of startups consistent with the industry and company stage.

Once one of our angel groups invest in oyur startup, you become part of a global community of angels and entrepreneurs. We are connecting entrepreneurs and investors from different parts of the world. We have an exclusive event agenda for founders of startups.

All startups have one or two Archangels. The archangel is an angel investor with a closer relationship with a particular startup, supporting its challenges. The archangel is a co-creator of value for the startup.

You can learn more about our angel funds and angel investors here: https://coreangels.com/our-angel-groups