Welcome to the Next Wave US Impact Fund I
We are thrilled to have you as a member of the team as we work to increase diversity in angel investing and high growth entrepreneurship. We look forward to helping you build a diversified portfolio of impact investments in a learn-by-doing model. We are excited about this model and your participation – together we are creating the next wave of women angel investors with a focus on social impact and financial returns.
This page provides an overview of the roles and resources that are the mechanisms for the Next Wave Impact Fund. Please do not hesitate to reach out if you have questions or something is unclear – if you are wondering, others probably are as well!
Investor Roles & Responsibilities
|Limited Partners (LPs)||87 members||You choose your level of involvement – LPs can range from full participants to passive investors. We encourage as much participation as possible – our collective and diverse experience and thoughts will lead to better investment results. Here’s what you can do:
|Investment Committee (IC)||MD and “The Eleven” Lead Investors||Same as above plus:
|Managing Director (MD)||Alicia Robb||Same as the above plus:
Investor Roles & Responsibilities
Limited Partners (LPs)
90 members (we will provide a link after the first close)
You choose your level of involvement – LPs can range from full participants to passive investors. We encourage as much participation as possible – our collective and diverse experience and thoughts will lead to better investment results. Here’s what you can do:
- Identify companies that match the fund objectives and nominate them (especially ones in which you have invested)
- Participate in the monthly Company Screens (on the 2nd Thursday or via recording)
- Provide your feedback on the companies via Survey Monkey (by the 3rd Tuesday of the month)
- Volunteer to participate in a Due Diligence – especially useful if you have industry experience, but it is not a requirement – there is a lot of work to be done that does not require specific industry knowledge
- Learn more about Angel Investing – access the educational materials, participate in webinars and other learning opportunities
- Lean In!
Investment Committee (IC)
Same as above plus:
- Pre-Screen the nominated companies each month and choose two for the Monthly Company Screens
- Determine who moves into Due Diligence, moves to the “Watch List” or is removed from the screening process
- Lead 1-2 Due Diligence every year and participate on multiple Due Diligence teams
- Perform ongoing monitoring of portfolio companies
- Be a ‘Direct Connection’ for 9 LPs and provide mentoring and learning opportunities for all LPs
Managing Director (MD)
Same as the above plus:
- Provide ongoing management and administration of the overall fund, tools, processes and communications
Processes, Tools & Resources
Company Screening Process: The identification, screening, due diligence and investment decision for companies as outlined in the Next Wave US Impact Fund Company Screening Process. This document identifies the stages, actions, responsibilities and timing to move companies through the Next Wave pipeline in a structured, timely and thoughtful manner.
Proseeder: A cloud based platform that we use to manage the deal flow and communications with all members of the fund.
- As part of your participation in the Next Wave Impact Fund, you will be able to create an investor account on the Next Wave Impact Fund Proseeder Site
- After registering, go to “Help” at the top then “Training” on the left-hand side – familiarize yourself with Proseeder so you are comfortable working within it.
- We will use Proseeder to manage the deal flow pipeline:
- Once nominated, entrepreneurs upload their presentation and complete a submission form providing general information about the company
- All due diligence documents will be managed via this tool
- We will also use Proseeder for general information and communications regarding the Next Wave Impact Fund I (e.g. the Company Screening Process, Investment Criteria and other documents will be housed here in addition to Next Wave’s website)
Zoom: Next Wave Impact Fund investors will receive links to participate in the monthly calls from Alicia Robb via Zoom.
Survey Monkey: We will use this tool to capture feedback after the Company Screens
Angel Capital Association Membership (ACA): As part of your membership with the Next Wave Impact Fund I, you receive membership to the ACA for the investment period of the fund, which includes its education/training materials, resources and member prices for conferences.
Education, Mentoring, Networking & Communications
- Access all education and training materials via the Investor Education Page. These materials are available to you at any time and are a great resource to learn more about the angel investing process, tools, terminology, and due diligence considerations. We will provide a recommended ‘curriculum’ for the first two years, as well as tie in many of our discussions on the monthly calls to specific points on the companies we are reviewing.
- Based on your geography or background (or random assignment!), you will be linked with one of the members of the IC as a direct resource late summer/early fall. While all IC members are available to you, this is a specific link for questions and clarifications on the process.
- We will also hold local gatherings tied to demo days, conferences, etc., and for those outside urban areas, we will have conference calls for further discussions. More to come as we continue to onboard more Limited Partners.
- You will receive a weekly updates and a monthly newsletter from Alicia Robb with information on upcoming events, education opportunities, highlights on the companies and bios of our LPs
2nd Thursday of every month: Participate in Company Screens
3rd Tuesday of every month: Complete Company Evaluations via Survey Monkey