How we work
SA Angels is open to deals from all sources. Once a deal has been identified as being of interest to the group it follows a set procedure to investment. The basic steps are as follows:
- Entrepreneur enters deal documents onto Angelsoft (ideally, this step is already complete as this is how the entrepreneur has applied to SA Angels).
- Entrepreneur is contacted by SA Angels to organise a "scrub and screen" session. During this session, the entrepreneur pitches to 2 or 3 members of the group. Those members decide whether the deal is likely of interest to the group as a whole, and also provide feedback as to the quality and content of the presentation. The goal of this session is to ensure that no time (entrepreneur or angel) is wasted pitching to the group as whole.
- Entrepreneur pitches to the SA Angels group at a full meeting. The entrepreneur is allowed 20 minutes to pitch and 10 minutes for questions.
- SA Angels discuss the deal after the entrepreneur has left the room. If there is interest in investing a "deal lead" is appointed and they become the primary point of contact between the entrepreneur and the group. If there is no interest a member is appointed to provide feedback as to why the group decided the deal was not of interest.
- Due diligence is conducted by the deal lead (and other members as required).
- An investment vehicle is formed (if required). Angels either invest through the vehicle or directly with the company (this is open to negotiation with the entrepreneur).