Joining Plains Angels entails the following steps:
- Review SEC-governed investor accreditation requirements below
- Review membership guidelines below
- Download, sign and return accredited investor accreditation statement to Tej Dhawan
- Receive approval to join
- Submit membership dues ($149 annually) online; invoiced upon approval
INVESTOR ACCREDITATION GUIDELINES
Regulation requires that at each member attest to at least one of the following categories:
- Individual income exceeding $200,000 in the two most recent years or a joint income with spouse exceeding $300,000 in the two most recent years and have a reasonable expectation of reaching the same income level in the current year. “Income” means adjusted gross income reported for federal income tax purposes.
- Individual net worth either individually or with my spouse exceeding $1,000,000 (with exclusions for primary residence listed in declaration document.).
- Represent a partnership, limited liability company or corporation with total assets exceeding $5,000,000 which was not formed for the specific purpose of investing in any particular company.
- Represent a partnership, limited liability company or corporation where all of its equity owners are accredited investors.
PLAINS ANGELS MEMBERSHIP GUIDELINES
- Plains Angels is a private organization of accredited investors organized for the purpose of investing in early-stage companies and which includes one or more members who have previously invested under an SEC Rule 506 exemption.
- Membership in Plains Angels is subject to approval by current members and governed by the organization’s managing director
- Each applicant certifies, at least on an annual basis, that they are an accredited investor.
- Plains Angels makes no recommendation in regard to any individual member’s investment in any offering under consideration.
- Neither Plains Angels, nor any of its members receives any transaction-based compensation in connection with any of the offerings considered by Plains Angels.
- Plains Angels is a member of the Angel Capital Association (the “ACA”) and has established investment processes which are consistent with those recommended by the ACA for member groups.
- Plains Angels’ members have agreed to adhere to a code of conduct set forth by the ACA