you are an individual and an Ohio resident, you can receive
a 25% tax credit (up to $62,500) for investing in an Ohio
technology company. For more details,
C-Cap has assembled a
group of individual investors who are actively seeking investments
in growth companies. The group has grown to over 25 individuals,
up from 7 members when C-Cap began in Spring 2001. C-Cap is open
to additional members. Many of the current members are former chief
executive officers and founders of successful companies, and a number
of them are knowledgeable in information technology and other technologies.
Typical investments by
individuals have been $25,000 to $100,000 or more per deal. Many
of the C-Cap angel members are interested in actively mentoring
the companies in which they invest, and this is encouraged.
C-Cap angels have invested
in a variety of industries, including information technology, biotechnology,
and nanotechnology. The members are also interested in financing
other types of businesses, including spin-offs and industry consolidation
ventures. The typical angel member is seeking a return on investment
comparable to that obtained by venture capital firms.
Investors must be "accredited"
investors (under securities laws) in order to become members of
C-Cap and invest in the companies that C-Cap presents to them. Generally,
individuals are "accredited" only if a) they have an annual
income of $200,000 or more individually, or $300,000 or more with
their spouse, for the past two years and expect to have such an
income during the current year, or b) they have a net worth of at
least $1,000,000 (with spouse). There are separate rules governing
whether trusts and other entities are accredited. Each potential
C-Cap angel member should consult legal counsel on this important
issue. C-Cap does not give legal advice.
Individuals can join C-Cap as members for an annual fee of just
$500, thanks to the funding provided by Ohio's IT Alliance and C-Cap's
sponsors. Angel members are not legally obligated to invest in any
opportunities presented by C-Cap, but C-Cap reserves the right to
terminate angel members who do not make any investments over a substantial
period of time, in order to limit the distribution of business plan
summaries to interested investors.
Each Angel member will receive a copy of each business plan summary
that C-Cap distributes to any member Angels, and will be invited
to attend any meetings C-Cap holds among interested investors to
discuss individual businesses. Generally, interested investors then
contact the company directly, and proceed without C-Cap's further
involvement. Angel members will make their own investment decision
concerning each company. C-Cap does not advise angel member on the
merits of companies, or assist in negotiating deals. Each Angel
member will be invited to attend C-Cap's annual evening event for
angels, entrepreneurs and sponsors, and all similar C-Cap events.
Each Angel member will also be eligible to attend the Angel Investing
events and other educational events held for angels. There may be
an admission charge for some of these events.
C-Cap organizes programs that are of interest to its Angel members,
and ideas for topics are welcomed. Queen City Angels has assembled
an Angel Toolkit and distributes it to its members. The Toolkit
includes sample forms of common documents like subscription agreements
and investment documents, financial analysis tools, and educational
materials provided by C-Cap sponsors and other experts.
C-Cap conducts educational events for investors.
See the Events
page of this web site for more information.
To become a
C-Cap angel member, please contact Jim Cunningham, Executive Director
of C-Cap, at (513) 618-6440 or email firstname.lastname@example.org.
Most of C-Cap's Angel
members are also members of Queen City Angels, an existing "club"
of active Angel investors. The Queen City Angels intend to focus
on businesses that have submitted their executive summaries to C-Cap.
Queen City Angels have funded several startups in the past year,
and meet at least monthly to review opportunities. The Queen City
Angels group is currently open to new members on a selective basis.
For more information about Queen City Angels, email your request
and your request will be forwarded to Queen City Angels.