The investment process

The process

From the moment an entrepreneur is selected to present to the angels, it takes about 3 to 4 months to complete the investment process.

STEPS

   Requesting an investment

Submitting an investment request is quick and easy thanks to our online form. You only have to answer our preliminary questions and attach your pitch deck (a 10-15 slides presentation of your startup), your 5-year financial forecasts and any other document that you consider relevant for our selection team. You will receive a preliminary response from our team at most 2 weeks after submitting your request, whatever the answer may be.

Before submitting your request, we recommend that you read about our approach and our selection criteria.

   Selection

We have a selection team that filters, qualifies and responds to the investment requests received. In the event that your investment request meets our criteria, you will be invited to participate in a call, so that we learn more about you and your startup. If this meeting proves successful, you will be officially invited to present your startup to the angels, during our Monthly Meetings.

   Monthly Meetings

The Monthly Meetings are your first official point of contact with all our angels. They are your opportunity to shine: you have 8 minutes to make a convincing pitch. Your goal during the Monthly Meetings?  Peak their interest enough so they will come to the 2nd meeting (more below). Our Monthly Meetings take place every month from August to May, everytime in three different locations : Sherbrooke, Montréal and Québec. Our members come from all over the province, therefore we present the same meeting three times a month, in three different cities.

  2nd Meeting

Given that your 8-minute pitch generates enough interest among the angels (to allow you to reach your investment objective), you will be invited to a 2nd meeting. This 2nd meeting is not a pitch, but an informal, interactive and detailed presentation of the key elements of your business model and your team. This is an opportunity for you to get to know the angels who are interested in your startup, but also to answer their questions. By the end of the 2nd meeting, we ask the angels to confirm their investment interest : the amount they wish to invest and whether they would like to take on the role of lead angel. If therethe interest is sufficient after this 2nd meeting, our investment team will prepare a term sheet.

  Term sheet

When finalized, the term sheet, which summarizes the terms and conditions of the investment, will be presented to you by the lead angel(s) and a member of our investment team part of the Anges Québec permanent staff.  You will have the opportunity to discuss and negotiate this term sheet.  The proposed terms and conditions are always subject to a satisfactory due diligence.

   Due diligence

When the term sheet is accepted by all the parties involved, the angels will proceed to the due diligence, i.e. is the process by which the angels verify and validate the various aspects of the business: the financial situation of the business, the management of human resources, the business relationships with suppliers and customers, the legal aspects of intellectual property, if any, etc. The due diligence is a process which the entrepreneur can prepare for in advance, by keeping a data room up to date, in order to facilitate the process as much as possible.

   Closing

If the due diligence is satisfactory, an investment agreement will be prepared. When all parties have approved the conditions of the investment agreement, a disbursement will be made. From this moment, an active business relationship begins between the various stakeholders who, while maintaining their autonomy, agree to pool their efforts in order to achieve the growth and success of your startup.