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Best Practices for Angel |
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Investor Confirmations
Every investor should receive a confirmation of their investment promptly after sending in their cheque. This e-mail should also welcome them as shareholders.
Investor's expectations on documentation vary considerably when dealing with early stage companies.
A well worded cover e-mail with the four documents below attached, will make almost every investor happy.
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It is important to be precise in naming the PDF files, following the examples above. These PDF files will be part of your company's minute book. The filenames must be conform exactly to the format described above to be properly filed and presented in your minute book folder.
The Receipt for Funds is one document that could be omitted, but some investors will still request it. So it's probably better to take the extra 30 seconds to send it to every investor.
The Share Register excerpt is redundant information, but sending to every investor is a good check on the share register entries and to confirm the investors e-mail address.
The total size of the Investor Confirmation package is under 2 MBytes. This is important because some e-mail systems still have a maximum attachemnt size limit of 2 MBytes.
The signed subscription agreement was scanned in color at 300dpi with Adobe set to high quality. Scanning in black and white results in a file size that is about 20% smaller.
