VF SIG: Have the Angels Found Their Wings?



  • Raising Angel Funding in 2004

    Pre-registration is no longer available.
    Please register at the door.


    Presentation Overview

    The ride down from 2000 to 2003 has been a rough one for angel investors, washed out in many deals and using stock certificates for wallpaper and stripped of their investment wings. But, that was then and this is now – is that right? Seems that financings are happening more often, the IPO pipeline is starting to fillup again, and angels are undergoing a collective amnesia experience where cram-downs never existed, or are they? Come and listen to a group of seasoned angels and angel group representatives talk about what is going on in angel funding and on what terms.

    Join Tom Cervantez (bio) of the Golden Gate Angels, Sam Tagaya (bio) of the Angel Capital Network, Carol Sands (bio) of Angels Forum, Russell Hinds (bio) of the Keiretsu Forum and Ian Sobeiski (bio) of The Band of Angels as they talk about:


    • What is the status of angel investing and angel groups in 2004
    • What are the terms like now for angels
    • Where do you find them and how do you close them
    • What is hot and not in terms of investment sectors for angels
    • How do you analyze when to go angel, bootstrap or VC routes
    • What are the killer issues that will close the angel door to your startup


    About the Presenters

    Anchor Tom Cervantez, Angel Investor, Founder of Golden Gate Angels, Attorney

    Tom Cervantez is an angel investor, founder of the Golden Gate Angels and corporate attorney. Tom has over 15 years experience working in the securities and finance field, with a focus on helping emerging growth companies, venture funds, and software and hardware computer companies navigate issues concerning securities, capital structure planning, private placements, mergers and acquisitions, venture financing and licensing transactions. Tom has also participated at an operating level at several companies, including a venture fund, boutique investment bank and an ISP. Tom's most recent venture was the formation of Britton Silberman & Cervantez LLP, which was acquired by Thelen Reid & Priest LLP in June of 2000. Tom is also an active angel investor in the computer, communications and networking sectors. Tom holds a Bachelor's in Business Administration, magna cum laude, from Loyola Marymount University, a JD from Harvard Law School and a MBA from Harvard Business School.

    Anchor Russell Hinds, Angel Investor and Founder of Sponsorwise, Inc.

    Russell Hinds is an active angel investor in the Bay Area and a member of the Keiretsu Forum, an angel investor group. Russell is also a founder of Sponsorwise, a sponsorship database and connection company. Russell brings over 17 years of finance, business and technical experience to the Sponsorwise team. From April 1998 to May 2000, Mr. Hinds held several positions with Virage Logic Corp., a provider of embedded memory technologies that power the Internet and communications infrastructure. He served as Manager of Applications Engineering and Technical Marketing in 1998 and Manager of Business Development and Foundry Relations in 1999. From 1992 to 1998, Mr. Hinds was President of RSH Investments, an investment and management company focused on Real Estate and Technology. Mr. Hinds was responsible for all financial aspects of evaluating, acquiring and overseeing a $6 Million portfolio of properties. Mr. Hinds received his BS EECS/MSE from University of California Berkeley in 1984, and an MS EECS from UC Berkeley in 1985.

    Anchor Osamu Tagaya, Chief Executive Officer of Angel Capital Network

    "Sam" Tagaya brings extensive experience in the field of international finance to Angel Capital Network, having spent 20 years as an investment banker with the Wall Street firms of Salomon Brothers and Donaldson, Lufkin and Jenrette. During that time he worked in the fields of structured private placements, commercial real estate syndication, institutional equity and fixed income distribution, and foreign exchange sales. Osamu has applied his skills and experience across three continents, having been based in New York, Tokyo, San Francisco and London during his professional career. Prior to joining Salomon Brothers, Osamu spent four years as a corporate attorney in New York City with the law firms of Shearman & Sterling and Wender, Murase and White. Born and raised in Japan, "Sam" spent part of his childhood in Montreal, Canada and completed his higher education in the United States. He holds a JD degree from Cornell University Law School and a BA from Tufts University (Phi Beta Kappa, summa cum laude).

    Anchor Carol Sands - Managing Member and Founder, Angels Forum

    Carol Sands has thirty years of financial services, sales management and marketing experience. Carol's experience includes marketing and sales positions at Motorola, Xerox Computer Services and First Bank Systems, and executive positions at Arthur Young (now Ernst & Young) and Coopers & Lybrand (now PricewaterhouseCoopers). In 1986, Carol founded Sands MarketingPlus, a sales management and marketing consulting firm that she later expanded to include an advertising agency. Carol closed Sands MarketingPlus in 1997 with the intention of retiring, but quickly realized that she was not ready to retire. Carol incorporated The Angels' Forum Management Company in June 1997, and she and the other founding members of The Angels' Forum began to develop The Angels' Forum's initial processes. The Angels' Forum made its first investment in June of 1998. Carol received her B.A. in Business Administration from The University of Iowa. She is a Trustee of The San Jose Repertory Theatre and a member of the Advisory Board of Silicon Valley Association of Startup Entrepreneurs (SVASE). She is also a member of The Democratic Forum of Silicon Valley as well as an advisor to Facing History and Ourselves. She is a frequent lecturer at Stanford University's Graduate School of Business (which has authored a case study of The Angels' Forum) and also at its School of Engineering. She also successfully completed The National Venture Capital Association's Venture Capital Institute Graduate Program.

    Anchor Ian Sobeiski, Angel Investor

    Ian Sobeiski is an angel investor and member of the Band of Angels. The Band of Angels is a formal group of 100 former and current high tech executives and entrpreneurs who provide counsel and capital to startup companies. Band members have founded companies such as Cirrus Logic, Symantec, National SemiConductor and Logitech, and have been executive officers at Sun Microsystems, Hewlett Packard, Intel, 3Com and Intuit. Since 1994, Band members have placed more than $110 million into more than 140 startup companies. The Band of Angels invests across all high technology categories, representing the diverse interests and backgrounds of its membership. The vast majority of these investments are made in the seed or early round (Series A or B) and are accompanied by the active post-deal participation of at least one member. Six of the Band's companies have gone public and sixteen have been acquired. The Band of Angels continues to meet every month as it has since 1994. At these meetings the organization hears from 3 invited companies and occasional guest speakers. Prominent individuals who have addressed the band include Elizabeth Dole, Bill Frist, Eric Lauder, Jerry Brown, Willie Brown, Gordon Moore, and Art Rock.


    Event Logistics


    Microsoft Main Campus

    1065 La Avenida, Bldg. 1

    Mountain View, CA


    6:30 p.m. - 7:00 p.m. Registration / Networking / Refreshments

    7:00 p.m. - 9:00 p.m. Program (Starts Promptly at 7:00 p.m.)

    Please Note: Latecomers who arrive after 7:20 p.m. will NOT be admitted to avoid disruption of the session.


    $30 Non-SDForum members

    $20 SDForum members

    Please call 408.494.8378 for student memberships

    Pre-registration is no longer available.
    Please register at the door.

    More on the Venture Finance SIG...