Becoming an Investor

Membership Benefits
A member of the BlueWater Angels (BWA), you will have access to vetted investment opportunities, leveraged talent and wisdom of your peer investors, and relationships with other sophisticated investment networks and funds. All BWA members are encouraged to participate at whatever level they are comfortable with, including screening of potential deals, due diligence teams, deal leads, or as board members.

Ample Networking Opportunities

Pre-Screened Investment Opportunities

Leverage the Collective Wisdom of Peer Investors

Co-Investment Opportunities with Other Angel Groups

Are you an Accredited Investor?An Accredited Investor is defined in Rule 501(a) of Regulation D under Rule 144 of the Securities Act 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 exceed $1 Million at the time of the purchase, excluding the value of the primary residence of such a 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 securities offered, who purchases a sophisticated person makes.

What is Angel Investing?

Angel investors have proven themselves to be an integral part of the capital market, particularly for funding start-up companies and providing the seed-stage financing of businesses. The term “angel” refers to high-net worth individuals, or “accredited investors,” who typically invest in and support start-up companies in their early stages of growth.

How is BlueWater Angels structured?

BlueWater Angels is a For‐Profit Limited Liability Corporation (LLC), a group of managing members comprised of the original board are now the LLC members.

Investor-members of the BWA network members (investors) are responsible for making their own decision to invest or not. BlueWater Angels is NOT a “fund” where an investment board determines if an investment will be made on behalf of other investors.

How is BlueWater Angels administered?

The BlueWater Angels engage contractors and service providers to support the operations and to perform the administrative functions for BlueWater Angels, including recruitment and management of members, marketing and public relations, event management, initial screening of members, etc.

How will investment opportunities be evaluated?

BlueWater Angel members have adopted best practices from the Angel Capital Association and other angel groups to make deal evaluation as simple and efficient as possible. Members have access to a confidential and secure website customized by Venture360, this web-based tool allows members to review documentation associated with potential deals, evaluate, score and rank each deal, and communicate with other members.

How are companies screened and invited to present to our membership?

Ultimately it is the decision of the screening committee, comprised of active BWA members, that screens and invites a company to present to the full membership at a pitch night and/or dinner deal review. After presenting, a company will be evaluated among the full membership to further coordinate negotiation of investment terms, due diligence, communications, and closing the deal.

As a member of BlueWater Angels, what is my expected level of participation?
The level of involvement by individual members is left to each member’s discretion.Typical angel investment groups see:

1/3 Actively Involved

1/3 Occasionally Involved

1/3 Rarely Involved

Actively involved members typically attend all meetings, help screen potential deals, are involved in due diligence, post-investment support, etc.

Occasionally involved members typically attend some meetings, help screen some potential deals, are involved in some due diligence, some post-investment support, etc.

Rarely involved members typically do not attend meetings and therefore, rely heavily on the opinions of more active members when making investment decisions

What is the minimum annual investment commitment required of members?

Members are required to pay $2,500 annual dues and are expected to invest $25,000 annually, contingent upon high‐quality investment opportunities being made available to the group. Members are responsible for their personal individual investment decisions and will not be required to make an investment by the BlueWater Angels.

What will my annual membership dues be used for?

BlueWater Angels’ membership dues will be used to offset administrative expenses for operating the organization. Such expenses include administration time to manage deal flow, educational seminars with a professional moderator, holding screening committee meetings, communications, other related administrative expenses, legal fees, etc.

Who are some of the BlueWater Angels members?

Current members include successful entrepreneurs, corporate executives, finance and investment professionals, and influential business and community leaders. These individuals strive to pass on knowledge, experience, and wisdom onto entrepreneurs in their local community. Individual members’ names are not made public.

How do I become a member of BlueWater Angels?

Qualified individuals can apply here or attend one of our events to fill out a printed application. Membership is given at the discretion of BlueWater Angels’ Membership Committee and is subject to annual renewal, non-renewal, evocation or termination.

The Membership Committee will review all applications for membership and endeavor to provide applicants with a written response within thirty (30) days of completed application submission (Your payment, whether by check or credit card, will be held for processing until after your membership has been approved). A member will be notified in writing by the Membership Committee of the intent to terminate or revoke membership, and the on-notice member shall have thirty (30) days in which to submit a written response to the Membership Committee, should the member deem his/her actions or inactions do not warrant or qualify for termination or revocation of membership. The Membership Committee shall consider, in good faith, such on-notice member written response within sixty (60) days. The decision of the Membership Committee is final.