A Chapter of the Atlanta Technology Angels

The Gwinnett Angels Charter

BECAUSE there is a group of interested, qualified investors in the greater-Gwinnett community who are looking for opportunities to invest in start-up companies; and

BECAUSE there are entrepreneurs in the greater-Gwinnett community who are seeking both investment from qualified investors and management assistance and direction from such investors; and

BECAUSE the Atlanta Technology Angels (“ATA”) is the largest existing angel investing group in metro-Atlanta, with available resources to assist the Gwinnett Angels to organize and operate, including providing access to the organized nationwide angel community, investor education, a pipeline of prospective investment opportunities, established methods for screening potential investment opportunities and systems for conducting due diligence and legal structuring of potential investments;

IT IS AGREED:

  1. The Gwinnett Angels will organize as an affiliated satellite organization of ATA, a 501(c)6 not-for-profit organization.
  2. Gwinnett Angel members will become full-fledged ATA members, with all the benefits of ATA membership plus all the benefits of Gwinnett Angel membership. Gwinnett Angel members will be welcomed to attend any ATA meetings and participate in all ATA activities.
  3. Membership is available to any individual who meets the SEC definition of being an “accredited investor” and who completes the application process and pays the appropriate membership fee. “Accredited investors” are those who currently have financial assets of at least $1 million, excluding the value of any personal residence, or annual income of $200,000 individually or $300,000 jointly. Annual fees for Gwinnett Angel and ATA membership are $2,000 per calendar year, prorated by quarter.
  4. ATA will support, as requested and appropriate, the activities of the Gwinnett Angels, especially with respect to investor education, the entrepreneur screening process, due diligence and investment structure.
  5. The Gwinnett Angels will pursue investment opportunities across all industries, especially start-ups in our communities, as well as reviewing the best investment opportunities screened by ATA.
  6. There is no annual minimum investment amount required of Gwinnett Angel members. Individual members invest only if interested and inclined through due diligence.
  7. The Gwinnett Angels will meet every other month to pursue investor education and review investment opportunities, including presentations by selected entrepreneurs.
  8. The Gwinnett Angels will be managed by a group of interested Gwinnett Angel members, with participation by a representative of Partnership Gwinnett and one non-Gwinnett member of ATA.
  9. The Gwinnett Angels will select a member to serve on the board of ATA.
  10. The Gwinnett Angels will pursue collaborations with appropriate educational institutions to support Gwinnett Angel activities as well as to provide opportunities for qualified local students. In addition, Gwinnett Angels will pursue collaborations with entrepreneur support organizations in order to assist entrepreneur growth and development.