Band of Angels (investors)
| Headquarters | 535 Middlefield Road Suite 190, Menlo Park, CA 94025 |
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Key people
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Glen McLaughlin, Ian Sobieski, J. C. Hans Severiens, Wayne Tamarelli,Matthew Le Merle |
| Website | www |
The Band of Angels is the oldest and most active angel investment group in the United States, with more than 120 members who provide counsel and capital to high tech startup companies. Band members have founded companies such as Cirrus Logic, Symantec, SunPower, National Semiconductor and Logitech, and have been senior executive officers at top Silicon Valley companies including Sun Microsystems, Hewlett Packard, Intel, 3Com and Intuit. Numerous articles have been written about the Band, appearing in periodicals such as The New York Times, The Washington Post, The Wall Street Journal, Upside, Red Herring,Der Spiegel, U.S. News & World Report, and Forbes. The Band has also been featured in two Harvard Business School Case studies.
Band members invest in deals directly; there is no pooling of resources or voting. Since 1994, Band members have invested over $186 million into over 200 startup companies. Nine deals that presented to the Band as seed investments became public companies; these alone returned $160M in cash to Band members and 47 other companies in the Band's portfolio have been acquired for a gain, including two in 2009 to date. Assuming an exit at lock-up expiration, this corresponds to a 53% annualized internal rate of return (IRR).
The Band of Angels is active, investing in 6 to 12 deals per year as well as another 10-15 follow-on investments. It consistently ranks among the top 10 most active VCs in the annual listing of the top 100 by Entrepreneur Magazine. The Band specializes in diverse, early-stage venture investing. The portfolio is distributed among biotech, semiconductor, networking, telecom, medical device, enterprise software, Internet, high-tech services, and even industrial, companies. Every investment receives active post-deal participation from a Band member, including joining the board of directors where possible.
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