Table of contents

Duke Angel Network
Advisory Board

  • Mrs. Lisa Jacobs Blau, T’97, Founder, VitalJuice
  • Mr. Dave Brown, P’12, P’14, Oak Hill Venture Partners
  • Mr. David Cummings, T’02, Founder, Hannon Hill Corporation
  • Mr. Josh Felser, T’86, B’90, Co-Founder, Freestyle Capital
  • Mr. James Goetz, P’18, Partner, Sequoia Capital
  • Mr. Winston Henderson, E’90, L’96, Vice President and General Counsel, Nano Terra Inc.
  • Mr. Geoffrey Kanter, T’89, Managing Director, Kanter Ventures
  • Dr. Garheng Kong, G’00, B’03, M’01, Founder and Managing Partner, HealthQuest Capital
  • Mr. Dan Levitan, T’79 Founder and Managing Partner, Maveron
  • Mr. Shami Patel, P’18, B’95, L’97, Co-Head, Venture Capital Team, Pacific View Asset Management
  • Mrs. Joanna Rees, T’83 Managing Director, Soda Rock Partners
  • Dr. Carmichael Roberts Jr., TR T’90, G’95, General Partner, North Bridge Venture Partners
  • Mr. David M. Rubenstein, P’15, TR T’70, Co-Founder and Managing Director, The Carlyle Group and Chairman of the Board, Duke University
  • Mr. Donald C. Stanners, P’15, T’79, Co-Founder, President, and CEO, RedHawk Food Group
  • Mr. Harry Weller, T’92, General Partner, New Enterprise Associates
  • Mr. John C. Yates, T’78, L’81, Partner-in-Charge, Technology Practice, Morris, Manning & Martin, LLC

Duke Angel Network
Steering Committee

  • Eric Toone, Vice Provost and Director, Duke Innovation and Entrepreneurship Initiative
  • Kip Frey, Professor of the Practice of Law and Public Policy and Senior Strategist for Translation Services at Duke I&E
  • Managing Director, Duke Angel Network, TBD

Duke Angel Network
Executive Summary

Mission and Overview

The mission of the Duke Angel Network is to support the global Duke entrepreneurial community with an angel investing platform and co-investment fund that engages and leverages the power of the Duke alumni network. Members are accredited angel investors from the Duke alumni network. The Duke Angel Network operational team and investment platform exists within the Duke Innovation and Entrepreneurship Initiative at Duke University.

The Duke Angel Network team partners with Duke alumni angel investors to source and curate investment opportunities in Duke affiliated companies. An online investment platform allows angel members to easily share deal opportunities, collaborate, complete diligence and close transactions. Investments are made directly between angel investors and portfolio companies.

The team also operates the Duke Innovation Fund. Capital from the fund is used to match investments from the angel network and scale the capital available for portfolio companies. The Duke Innovation Fund contains capital from alumni donations and from Duke University. All capital gains from fund investments are returned to the fund and reinvested alongside angel investors.
The most important aspect of the Duke Angel Network is the active engagement and matching of Duke alumni network expertise with portfolio companies to support growth and success. The global Duke community offers a uniquely powerful opportunity for networking and guidance from industry experts and successful entrepreneurial leaders. Duke Angel Network members work actively to connect portfolio companies with the Duke network.

Investment Strategy

The Duke Angel Network is focused on helping private companies grow by facilitating the flow capital and support from Duke alumni angel investors. The network seeks to partner with companies that meet the following criteria:

  • Have a founder, executive or board member who is a Duke alumnus, faculty, staff, student or parent
  • Raising seed or Series A equity capital of $300,000 to $3 million

or

  • Syndicating later stage equity financings with an existing institutional lead investor.
  • Located in the United States

Deals are sourced through member referrals and active networking by the operating team throughout the global Duke entrepreneurial community. Diligence is performed by deal teams consisting of angel members and members of the operating team. Investments are made in each deal on a subscription basis and facilitated directly into companies or grouped through single purpose investment vehicles. Post investment support is a particular focus for the network with proactive outreach to Duke alumni throughout the world to help portfolio companies grow.

Member Benefits and Requirements

The Duke Angel Network and investment platform offers the following membership benefits:

  • A credible source of curated investment opportunities around the United States
  • An opportunity to collaborate and network with other like-minded investors
  • An easy process for finding, evaluating and making angel investments
  • An opportunity to help fellow Duke alumni grow companies with capital and support
  • An opportunity to engage with Duke University and the expanding entrepreneurial activities across the school

Members must be a Duke alumnus, faculty, staff, student or parent, or donor to Duke University, and an accredited investor as defined under Rule 501 of the U.S. Securities and Exchange Commission. Members are expected to be active in the network, which includes the following:

  • Actively source investment opportunities for the group
  • Collaborate and contribute to diligence processes and investment decisions
  • Participate in the investment process on a regular basis
  • Provide support and guidance for portfolio companies based on experience and expertise

The annual membership fee will initially be $1,000 per year to help cover the cost of operations.

Organization and Process

An Advisory Board consisting of world class experts from the Duke entrepreneurial community provides guidance and feedback. A Steering Committee of entrepreneurial leaders at Duke guides strategy and operations. A Managing Director with extensive experience in fund management, diligence and investor relations runs the operations of the network. A team of Student Fellows provide resources for networking, diligence, transactions and portfolio company support.

 

DIF-Exec-Summ

 

DAN uses ProSeeder, a technology platform, to manage deal flow and collaboration. ProSeeder gives members the ability to easily collaborate and manage deal flow through an application that can be accessed on any device.

Duke Innovation Fund

The Duke Innovation Fund consists of philanthropic contributions from individuals to support innovation and entrepreneurship across the global Duke community. The Fund will match the angel member investments in each deal, with matching amounts at the discretion of the Steering Committee. All capital gains are returned to the Fund and reinvested in companies. Duke University has committed $2 million to the fund. The initial target size is $20 million in committed capital.

Make A Gift to the Duke Innovation Fund

Contact

For additional information on the Duke Angel Network and the Duke Innovation Fund, please contact dukeangelnetwork@duke.edu

 Press Release

‘Duke Angel Network’ To Connect Alumni Investors With Duke-Affiliated Startups

DURHAM, NC – Duke University is establishing a network of alumni experts to provide investment capital and other support to help entrepreneurs start companies and create jobs based on research, technology and business ideas that come out of the university community, school officials announced Wednesday.

Read the full press release on Duke Today

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