Q. What are the requirements for membership?

A. There are two main requirements for becoming an Aurora Angel Network member: (1) You must be an accredited investor as defined by Rule 501 of Regulation D of the US Securities and Exchange Commission. This means that you must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income of at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year. (2) You must be sponsored by a current Aurora Angel Network member.

Q. How does the AAN process work and how many investments can I make?

A. Aurora's goal is to present 3-4 investment opportunities per year to its membership. All investment decisions are made on an individual basis.

Q. What do I receive in exchange for my investment?

A. Aurora typically provides funding support in the form of equity, although certain types of debt instruments may be considered in certain situations. Members receive equity in the form of common or preferred stock as negotiated with the company.

Q. What is the annual commitment?

A. Members commit to conducting at least one $10,000 investment per year.

Q. Are there any membership fees?

A. Yes. Members living in Puerto Rico must pay a $1,000 annual membership fee, while those based outside of Puerto Rico must pay a $500 annual membership fee.

Q. Why are there different fees for out-of-Puerto-Rico members?

A. We do not want to be membership fees to deter potential members. Since non-Puerto-Rico residents have to cover their expenses when traveling to Puerto Rico for membership meetings, we have adjusted their annual fee.

Q. What does my membership cover?

A. As a member of the Aurora Angel Network, you gain access to exclusive networking events, educational opportunities, and pre-screened investment opportunities.

Q. Does AAN take an administration fee from my investment?

A. No. AAN does not charge a management fee or administration fee on investment funds. AAN does charge each company a fee based on the capital raised.

Q. I don’t know anything about investing in startup companies- Is AAN right for me?

A. One of the main benefits of joining an organized angel group is the exposure you have to a wide pool of knowledge and expertise. You can learn from others who have more experience in the startup investment space, discuss each deal with other members, and AAN manages the heavy lifting on your behalf (deal sourcing, due diligence, deal structure).

Q. How involved do I have to be with my portfolio companies?

A. It is up to each individual member to decide how active or passive they would like to be with their angel investing. Many angels prefer to mentor their portfolio companies in a formal board capacity or on an informal basis. Others prefer a more “hands-off” approach, only receiving post-investment communication via the quarterly portfolio updates provided by AAN.

Q. Why should I become a member?

A. As a member of the Aurora Angel Network, you gain access to a growing community of Puerto Rican investors who are interested in giving back to the Island’s entrepreneurial community. Through Aurora, you will have access to exclusive networking events and educational workshops. Furthermore, you will have the opportunity to join fellow investors in pre-negotiated deals, thereby streamlining the deal-sourcing process for you as an investor.

Q. Can I bring my spouse?

A. Yes! Aurora firmly believes that members’ families are an essential part of our community.

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