A Gift from Congress to Angels

The picture here was taken by Joe Wallin, who was on a panel with me, Gary Kocher of K&L Gates, Tom Alberg of Madrona Ventures, and Dan Rosen of the Alliance of Angels, talking to the Angel Capital Association's NW Regional Meeting about all the new laws and regulations and SEC guidance recently hatched or in the works that impact angel investing. Really great spirit and energy among the angels who assembled.

CdOv0FCW4AAJ1lgOne thing we talked about was a new law that should make it easier for angels to sell private company stock, provided they find an(other) accredited investor interested in buying, and provided that the company cooperates and provides certain information.

You can read about this more in a TechCrunch article that Joe, Josh Maher and John Myer wrote which ran yesterday. Go here to see a model pair of covenants that Joe, Gary and I prepared to share with the attendees of the ACA NW Regional Meeting. When negotiating with a company on including such covenants in your angel investment, no doubt the company is going to have its own thoughts and priorities, and in every case you will need to customize any model covenants to fit your own circumstances (in other words, the models are not legal advice; consult your lawyer).


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