The Long Island Angel Network (LIAN) was incorporated as a New York non-stock not-for-profit corporation whose mission is to provide access to seed-stage funding for start-ups and early-stage – primarily pre-revenue – businesses having or willing to make a Long Island home by providing means for its members – who are accredited investors – to evaluate, exchange information about and participate in these investment opportunities.
In the past four years, the Long Island Angel Network has reviewed some 600+ applications for financing from start-up ventures and early-stage companies located on Long Island or potentially willing to relocate to the region with an investment commitment. Six investments have been closed by its investors – the “hit” rate that typifies this form of investing. The closed investments as well as those that have attracted interest are in Web-based and information technologies, medical diagnostics and cleantech, sectors that characterize the overwhelming majority of deals reviewed by LIAN. Some two dozen applications for financing are typically reviewed for every monthy meeting of the LIAN Board of Directors, which acts as the screening committee.
The Board of Directors recently decided that only members and their guests will be invited to participate in deal screening sessions or admitted to presentation meetings for investors. Please see “For Angels” section for information on becoming a member.