What is the name of the organization?
We’ve chosen Gwinnett Angels to reflect our mission of investing in early-stage companies and to emphasize our general geographic focus.
What is the purpose of the organization?
Essentially, there are two purposes. First, to provide accredited investors the opportunity to consider investing in start-up companies across a variety of industries; and second, to provide support and assistance to entrepreneurs in the greater-Gwinnett and metro Atlanta areas who need both capital and advice to assist in the successful start-up of their business ventures.
What is an “accredited investor”?
Under the Securities Act of 1933, a company that offers or sells its securities must register the securities with the SEC or find an exemption from the registration requirements. The Act provides companies with a number of exemptions. For some of the exemptions, such as rules 505 and 506 of Regulation D, a company may sell its securities to what are known as “accredited investors.”
The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:
- a bank, insurance company, registered investment company, business development company, or small business investment company;
- an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
- a charitable organization, corporation, or partnership with assets exceeding $5 million;
- a director, executive officer, or general partner of the company selling the securities;
- a business in which all the equity owners are accredited investors;
- a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;
- a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
- a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.
How do I join?
An application is available on the Atlanta Technology Angels website. Please indicate your interest in the Gwinnett Angels.
What are the annual dues?
Annual dues are $2,500 and are prorated based on the time of year you join the organization. The Chapter is holding an enrollment period now through the end of the year, during which time, the $2,500 dues covers the remainder of the current year and all of the next calendar year.
If you are an active investor in the course of any given year, by making investments of $25,000 in companies who present to the Gwinnett Angels or the Atlanta Technology Angels (“ATA”), your next year’s annual fees are reduced to $1,000.00.