HBS ANGEL ADVANCED INVESTING BOOTCAMP
FALL 2024
Wednesday & Thursday, October 23rd & 24th, 2024
12:00 - 5:00pm ET | 9:00am - 2:00pm PT
HBS ANGEL ADVANCED INVESTING BOOTCAMP AGENDA
DAY 1
12:00pm ET Opening Remarks
ANGEL INVESTING ECOSYSTEM & CURRENT BUSINESS CLIMATE
12:10pm ET Current Economic Climate
12:40pm ET Angel Investing in the Current Business Climate
1:00pm ET FAST BLAST - Sources of Deal Flow
IT’S ALL ABOUT THE DEAL TERMS: GETTING THE TERMS RIGHT
1:10pm ET Term Sheet Walk-Through: Equity
2:25pm ET Speed Networking/Break
2:40pm ET Term Sheet Walk-Through: SAFE
3:20pm ET FAST BLAST
3:30pm ET Speed Networking/Break
3:45pm ET Term Sheet Walk-Through: Convertible Notes
4:45pm ET Exercise for Next Day
5:00pm ET Cocktail Networking
5:30pm ET END DAY 1
DAY 2
12:00pm ET Opening Remarks
IT’S ALL ABOUT THE DEAL TERMS: HOW TERMS IMPACT THE CAP TABLE
12:10pm ET Cap Table Discussion
1:15pm ET Speed Networking/Break
POST-INVESTMENT RIGHTS, OBLIGATIONS & LIABILITIES
1:30pm ET Hot Spots, Red Flags, and Warning Signs
2:30pm ET Advisors, Boards, Liabilities
3:00pm ET Speed Networking/Break
FOLLOW-ON INVESTMENT AND EXITS
3:15pm ET Conversion and Dilution
4:15pm ET Exits
5:00pm ET Wrap-up and Cocktail Networking
5:30pm ET END DAY 2
Learn from experienced Angel investors across the US! The Advanced Bootcamp dives deeper into topics that angel investors must understand to build a portfolio with high-profit potential. This fast-paced program will equip you with the tools and insights you need to feel confident as an angel investor. It will also help you understand that you have a wide network of fellow angels to learn from, and with whom you can share your insights and experiences — and that it is awesome being a part of the HBS Angel community.
The HBS Angel Advanced Investing Bootcamp will cover:
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Angel Investing in Current Business Climate
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Deal Flow, Screening & Initial Company Assessment
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Due Diligence, Deal Terms & Structure
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Post-Investment Rights, Obligations & Liabilities
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Follow-on Investments and Exits
We will start the Bootcamp with an up-to-date brief on how the current business climate is impacting angel investing. Then over the course of two days, you will learn how to source and screen companies as an individual and as part of a screening committee. You will learn about cap tables and how various forms of investment appear on the cap table, along with impact and implication of dilution arising from conversions and follow-on investments. We will walk-through investment terms and look at example term sheets for equity, convertible notes, and SAFEs. We will also discuss SPVs and RUVs. We will consider what information may be available to you after you have invested in a company and how to tell if a company is meeting its milestones, using funds raised effectively, and if they are on the right trajectory for a subsequent fundraising round. We will also consider what the red flags and warning signs are if a company starts to go off track, if there is any action you can take, and your possible tax implications if a company fails. We will also address exiting an investment, whether you should cash out ahead of time, and whether you should allow a founder to cash out early. As with all of our HBS Angel Bootcamps, there will be opportunities to network with fellow angel investors during speed networking breaks and end-of-day cocktail networking.
2024 BOOTCAMP PRESENTERS
CONFIRMED SPEAKERS INCLUDE:
David Bailin is the CEO of CIO Capital Partners, a provider of investment advisory services to family offices and high net worth individuals.
Prior to forming CIO Capital Partners, David was the Chief Investment Officer (CIO) for Citi Global Wealth (CGW). As CIO, David was responsible for the formulation of CGW's investment strategy and delivery of key insights on global markets, economics and asset classes.
David joined Citi as its Global Head of Managed Investments in 2009 and led Citi's Global Investments Organization from 2017 to 2023. He became Citi's CIO in 2019. David established Citi's unique investment philosophy and designed the architecture for its investments platform, providing the industry's most comprehensive client advisory services. Under David’s tenure, Citi’s investment platform, CIO advice, lab and technology capabilities received numerous industry awards including 2024 recognition as "World's Best Chief Investment Office" at the Euromoney Global Private Bank Awards.
Prior to joining Citi, David was Managing Director and Head of Alternative Investment Asset Management at Bank of America, where he was responsible for all alternative investments across private equity, real estate, venture capital and hedge funds. He began his investments career in 1992 as Managing Director of Global Asset Management, now a division of Bank Julius Baer. David regularly provides commentary on TV and in print for CNBC and Bloomberg TV aas well as in Barron's The Wall Street Journal, Financial Times and the New York Times.
David holds a BA with honors from Amherst College and an MBA with honors from Harvard Business School. He is married with three daughters and lives in Charleston, SC and New York.
Sameera Bazaz leads the Harvard Business School Alumni Angels Association’s Washington DC Chapter. She is currently Chief Operating Officer of the Hot Mommas Project, an award-winning women’s leadership venture that created and houses the world’s largest database of business case studies featuring women protagonists, role models and mentors. Sameera co-teaches Women’s Entrepreneurial Leadership at the George Washington University School of Business and is a judge for the School’s New Venture Competition. Earlier, Sameera was Vice President and Senior Consultant at Vision Forward LLC, an early entrant into the flex work and independent consulting model, where she led process and operations consulting. Prior to VisionForward Sameera was Senior Account Manager and Vertical Lead at FreeMarkets Inc (acquired by Ariba and then SAP), the first online business to business strategic sourcing auction tool. Sameera began her career in corporate taxation and litigation support at Price Waterhouse in Sydney, Australia. Sameera earned a B.Econ. (Economics and Accounting) and LLB (JD) from the University of Sydney and an MBA from Harvard.
Mark Belinsky (HBS MBA 1982) serves as Board Member and Treasurer of the Harvard Business School Alumni Angels Association, is a member of the Selection Committee of the Harvard Angels of Northern California, and is also an active member of the Band of Angels. He has over 30 years of experience as an entrepreneur and operating executive. He’s founded, co-founded, or had C-level roles at companies including as SVP and GM at video encryption and software e-commerce company Macrovision (Nasdaq: TIVO) and at haptics leader Immersion Corporation (Nasdaq: IMMR). He’s been an active angel investor for the past 10 years, including investments in several HBS Angels funded companies. Mark holds a B.A. in Accounting and Finance from Wayne State University and an MBA from Harvard Business School.
Tom Cervantez (Harvard JD/MBA 92) is one of the Co-Founders of the HBS Alumni Angels Association together with Sean Jacobsohn MBA ’98, Maurice Gopikian MBA ’96 and Sajjad Masud MBA ’98. Tom is an active angel and real estate investor and also a Venture Partner at Accelerator Ventures and sits on the Boards of Sleepquest and PillDrill. Tom brings a strong deal background to his investments and portfolio companies from the legal perspective, having practiced law as a venture capital lawyer in Silicon Valley since 1992, as well as being a founder of BIZLAW.COM – lawyers for founders, startups and investors - based in San Francisco. Tom’s representative investments include Friendster (Acquired), OpenTable (IPO), Specialty’s Café & Bakery (Acquired) and On24 (IPO 2021). Tom also started/sold two companies GeoNet ISP (acquired by Level3 Communications) and Britton Silberman & Cervantez (Acquired by Thelen Priest). On the non-profit side, Tom sits on the boards of the HBS Latino Alumni Association and the HBS Alumni Angels Association.
Michael Costa is a senior level finance professional with deep experience in media, digital transformations, M&A/strategy and governance.
Michael recently served for nearly 10 years as a member of the Board of Directors of publicly traded media company Scripps Networks Interactive. There, working with the CEO and other board members, he directed the company from the spin off from its legacy newspaper parent to the acquisition by Discovery creating >$6B in value. As a member of both the Audit and Compensation Committees, he successfully advanced major international acquisitions, played a critical role in the CEO succession process, accelerated the transition from control by a family trust thru dual class stock to dispersed ownership and resolved a shareholder activist campaign.
Michael holds a J. D. degree from Harvard Law School and a bachelor's degree from Colgate University. He is a Certified Financial Expert under SEC Rules.
Chris Hagenbuch is a Venture Technology and Emerging Growth Companies partner in Dentons Meatpacking NY office. Chris is a trusted business advisor to companies of all sizes and to private equity and venture capital funds. He guides them through their complex domestic and cross-border mergers and acquisitions and is a go-to resource for day-to-day corporate matters.
In addition to his practice in New York, Chris spends significant time in Silicon Valley representing emerging growth technology companies in a diverse range of industries including technology, life sciences, energy, and entertainment. He also represents private equity, venture capital and other institutional investors in strategic transactions. Among his notable transactions, Chris has advised one of the world’s leading private equity firms in the technology sector in connection with four concurrent acquisitions of technology companies based in the United States, the United Kingdom, France and the Netherlands, as well as in its acquisition of a hospital pharmacy automation unit from one of the world’s largest public health care companies. Chris also represented one of the world’s largest public chip manufacturers in a US$16.7 billion acquisition of another public chip manufacturer, which was one of the largest technology transactions in 2015.
Clients trust Chris to structure, negotiate, document and execute their financings, early liquidity transactions, spin-offs and buyouts, recapitalizations, public equity offerings and private debt transactions. His work spans his clients’ life cycle - from formation, founder-related matters, seed investments, and venture capital financings - to later-stage financings, M&A and corporate governance matters.
Tom Hirschfeld is an investor in private companies, some of which he also serves as advisor or board member. His work experience includes positions as Chief Operating Officer of Halcyon Asset Management, a New York investment firm which he helped grow from $2 to $14 billion under management; Managing Director at J. & W. Seligman, where he managed a $1 billion venture capital portfolio and served as Chief Operating Officer for Investments; Partner at Patricof & Co. Ventures, where he led early investments in companies including Audible and Intralinks; Assistant to the Mayor of New York City; and Vice President in Corporate Finance at Salomon Brothers. Also a New York Times bestselling author, he has written nonfiction books with over 1.5 million copies in print. Tom graduated magna cum laude in Classics from Harvard College and received a graduate degree in Economics and Politics from Balliol College, Oxford University, on a Marshall Scholarship.
Jason E. Klein is an experienced media CEO and builder of digital and traditional businesses who has led two successful turnarounds. He is founder and CEO of On Grid Ventures, an investment and advisory firm with a portfolio of 20+ early stage companies. Mr Klein is co-President of the HBS Angels Alumni Association. Mr. Klein was previously CEO of Newspaper National Network LP; and CEO of Times Mirror Magazines/Time4 Media, publisher of Golf Magazine, Field & Stream, and Popular Science. Mr. Klein is one of Alleywatch's “25 Angels Investors in NY You Need to Know,” a member of New York Angels, and a mentor at several NYC-area incubators. Jason has an MBA from Harvard University and a BA from Dartmouth.
Jean Kovacs, Co-Chair of the Global Board of HBS Alumni Angels, is a partner at Hillsven Capital, a venture capital firm focusing on early-stage enterprise SaaS companies, and sits on several company and non-profit boards. Previously, Ms. Kovacs was CEO and co-founder of Comergent Technologies, an e-business enterprise that was purchased by Sterling Commerce, a division of AT&T. Earlier, she co-founded Qualix Group, a developer of reliability software in distributed computing environments, and was closely involved in their IPO. She has also held positions in sales, marketing, and support at Frame Technology, Sun Microsystems, and Compugraphic Corporation. Jean has been named to the Silicon Valley/San Francisco Business Journal’s list of Most Influential Women in Business. In 2014, she and other alumni were honored by the dean of Harvard Business School for making an impact through leadership roles. She has been profiled in Fortune Magazine, The Financial Times, Computerworld, Internet World and InfoWorld. She has a BS in finance from Northeastern University and an MBA from Harvard.
Stephanie Lane, Gunderson Dettmer, Corporate & Securities Partner, San Francisco
Stephanie’s practice focuses on representing emerging growth companies throughout their lifecycles and venture capital firms in their investment activities. She advises entrepreneurs on formation and corporate structuring matters and has significant experience advising technology companies on a wide range of corporate transactions, including venture capital financings and mergers and acquisitions. She also represents many leading angel investors and venture capital firms in connection with their investments in technology companies.
Alexa McCulloch co-chairs HBS Angels of Southern California. She has invested across 5 continents for Communications Venture Partners, Partners in Life Science, and Goldman Sachs. McCulloch began her career as a rocket scientist and was awarded the Jefferson Goblet Award by the American Institute of Aeronautics and Astronautics. An innovator in security and aerospace, she was CEO of NetCloak Inc., a B2B2C cybersecurity company; CEO of Grandeye Ltd., global manufacturer of 360° IoT security cameras sold to Creative Labs (SGX: C76); led team at Hughes that fully automated spacecraft testing (delivered 18 months ahead of schedule), created a software app that optimizes spacecraft power, and successfully launched satellite on repurposed Soviet ICBM from Russian Cosmodrome, Kazakhstan. In healthcare, McCulloch was a Founding Partner at Circle Health (LON: CIRC), Europe's largest healthcare partnership; held public appointment as Independent Director of Central London Community Healthcare NHS Trust; and served as Non-Executive Director of Pacific Heart, Lung, and Blood Institute. She is a Techstars All-Star Mentor. McCulloch holds three engineering degrees from the University of Michigan and an MBA from Harvard.
Greg Pilarowski is Founder of Pillar Legal, a boutique international law firm with offices in the San Francisco Bay Area and in Shanghai. He established Pillar Legal in 2008 and has extensive experience representing technology companies, venture capital firms, and startups on a wide range of domestic and cross-border transactions, including mergers and acquisitions, equity and debt financings, intellectual property and software development transactions, and general corporate matters. Greg has lived and worked in or with China since 1994, is a fluent Mandarin speaker, and is adept at navigating China’s legal environment. Prior to founding Pillar Legal, he served as the general counsel for Shanda, the leading online game company in China at the time. He also practiced in the New York, Hong Kong, and Beijing offices of Sullivan & Cromwell, a leading Wall Street law firm. Greg holds a B.A. from Ohio State University and a J.D. from Harvard Law School.
Alysse Soll is CEO, underdog advisory, helping sports tech startups navigate and network the sports landscape and driving capital fundraising and acquisition. Alysse is an Angel investor (Series 7 and 63) and Board Member of the Harvard Business School Alumni Angels, where she is Deal Co-Chair and Sports Sector Lead. She is also the Vice Chair of WiST (Women in Sports Tech), a nonprofit designed to drive awareness and inclusion for women and the BIPOC community across the sports tech landscape. Alysse spent 17 years in the NHL growing the North American footprint and global fanbase. She spent the second half of her career in digital media, advertising technology and tech startups. She is a graduate of Cornell University where she earned Varsity letters for Women’s Ice Hockey (left defense) and Harvard Business School. She is the proud mother of a college freshman daughter who keeps her on her toes.
Dr. Ronald Weissman, Venture Capitalist, Neva, Angel Capital Association, Band of Angels
Dr. Weissman is a venture capitalist and an angel investor with more than 35 years of experience in high technology. He advises companies and regional and national governments on private capital trends, including fundraising, angel group formation, valuation and public policy. He is Senior Advisor to Neva, Chair of the Angel Capital Association, North America’s principal organization for professional angel investors, Chair of the Software Interest Group at the Band of Angels, Silicon Valley’s oldest angel group. He invests in AI, analytics, health IT, and enterprise software as applied to a variety of deep tech industries.
Dr Weissman received his BA, MA and Ph.D. degrees from the University of California, Berkeley, is a former Fulbright Scholar (Italy), and received Keiretsu Forum (NW)’s Lifetime Achievement Award (2022) for his work advancing angel investing best practices.
THANK YOU TO OUR SPONSORS
HBS Angels Advanced Investing Bootcamp Pricing
HBS Alumni
please ensure you have added HBS Alumni Angels as one of the communities in your HBS profile before registration.
HBS Angels Members
contact your local chapter leader for member codes.
The Zoom Meeting information will be in your registration confirmation email.
The Harvard Business School Alumni Angels Association, based in San Rafael, California, is a global nonprofit alumni club of the Harvard Business School. With 16 regional chapters and over 1000 members, it is the largest alumni-based angel organization in the world. For more information: www.HBSAngels.com