Our Startup Application Guidelines

In full transparency and visibility we will tell you everything you need to know about our requirements and approach.

Start your application

To ensure your opportunity receives serious consideration, please complete the online application via our Venture Management System. Before applying, we ask that you carefully review the following guidelines and instructions. If your company meets the qualifications and you are aligned with our process and timeline, we encourage you to proceed with your application.

Here are the basic requirements:

Company Stage & Structure:

Founded: Within 2 years or less.
Incorporated: Must be in the USA.
Legal Structure: C-Corporation, or an LLC actively converting to a C-Corp.
Team: At least one full-time founder is required; typically, we prefer at least two.

Funding & Valuation:

Funding Series: Pre-Seed to Seed (We do not participate in Series A rounds).
Round Size: $750K – $2M (Exceptions are rare for rounds exceeding $2M).
Pre-Money Valuation: $6M – $8M (A higher valuation is considered only with a high level of traction).
Our Ticket Size: $100K – $250K per deal; the vast majority of our investments are $100K to $150K. With our syndicate, our total participation can reach up to $500K.
Deal Structure: Equity Priced Round, Active Equity Round, or Convertible Note.
Note: We absolutely DO NOT invest using SAFE notes.

Geography:

Primary Focus: Michigan, the Midwest, and North America.
Secondary Focus (Case-by-Case): Startups from Israel and Western Europe.

Exit Potential & Valuation

We seek capital-efficient startups that are aiming for an exit within 3-5 years. Our investment strategy favors business models that can deliver strong investor returns even with exits under $100M, although we are certainly open to larger outcomes. Note that 90% of our investments are made at a $6M to $8M Pre-Money valuation.

Additional Information to Consider:

AUTOMATIC NO

Legal & Geographic Scope:

Incorporation: incorporated outside the USA.
Geographies: We DO NOT invest in companies based in Eastern Europe, Russia, the Middle East (excluding Israel), Africa, India, China, or Southeast Asia. This exclusion applies even if the corporate entity is domesticated in the US or plans to move operations.
Industry Focus: The product or service must be legally, morally, and ethically sound. We avoid industries related to legal gray areas such as marijuana and real-money gambling.

Founding Team & IP:

Founders: No full-time founder(s) (non-negotiable).
Intellectual Property (IP): Must have existing IP or a clear plan to own IP.

Investment Terms & Stage:

Instrument Type: We invest in Convertible Notes (Debt) and DO NOT use SAFE instruments.
Closing Timeline: The funding round must not be scheduled to close in less than 60 days.
Outside Commitment: We prefer at least 20% of the round to have outside capital commitment already spoken for. Hard commitment (signed, sealed and delivered) not soft circle, please.
Cryptocurrency: We DO NOT invest in coin/token offerings, SAFTs, or any cryptocurrency-related projects.

Size & Valuation (Soft Limits Apply):

Round Size: Our soft spot is $1.5M; rounds greater than $1.5M are less preferred.
Valuation/CAP: Our soft spot is $6M – $8M; a valuation/CAP above $8M is less preferred, yet not impossible.

PREFERED INDUSTRIES & MARKET VERTICALS

What are we looking for?

We have created a set of industry verticals and market sectors that we are committed to focus on to maximize our resources, we have created primary and secondary sectors of choice.

To expedite the review process and selection of companies for in-person presentations, please ensure that the Executive Summaries and accompanying PowerPoint presentations include the following required elements:

Presentation Outline: Key Components

Foundation

Why: The core purpose and driving force (Start with Why?).
What: The problem being addressed, the market need and size, and your proposed solution.
How: The approach and execution strategy.

The Offering

Product/Service Explanation: Detail the offering.
Technology: The underlying technical framework.
Intellectual Property: What is protected and how.

Market & Strategy

Competition Analysis.
Marketing & Sales Strategy.
Exit Strategy and Horizon.

The Business & Team

Management Team.

Financials & The Ask

Financial Overview and Assumptions (Reference example).
Revenue Projections ($000): Year 1 to Year 5.
The “ASK” & Terms: The capital needed and use of proceeds.
Deal Structure: Priced Round, Convertible Note (CN), etc.

Required Application Materials:

- Complete Capitalization Table: Include all investor names and the total amount invested.
- Current Debt Documentation: SAFE (Simple Agreement for Future Equity) or CN (Convertible Note) should be listed here, not on the Cap Table.
- Draft Legal Documents:
  - Term Sheet
  - Subscription Agreement
- Intellectual Property (IP) Documentation
- Industry Research Papers
- Supporting Business Information: Any other relevant materials to strengthen your application.

THE APPLICATION & INVESTMENT PROCESS

To ensure an efficient and straightforward application process, we have implemented a mandatory Two-Stage application. Please review this document in its entirety before submitting your application.

Phase I: Initial Screening and Qualification

This stage involves screening, qualifying, and matching your startup against our investment criteria.

Application Review & Qualification: X–X Days
First Introduction Pitch (Recorded): X–X Days
Management Review: X–X Days

Note: Our 60-day Due Diligence period officially begins upon the management team’s decision to proceed to the DD stage.

Stage Two: Due Diligence and Investor Presentation (60 Days)

Our team will conduct a comprehensive due diligence review of your company to prepare for presentation to our investors. The 60-day process is outlined below:

Duration	Activity
Days 0-15	Complete full Due Diligence and create a summary document.
Days 15-20	Management review of the Due Diligence Summary.
Days 20-40	Formal Investor Showcase Pitch. (A maximum of two follow-up Zoom sessions with interested investors will be scheduled after the presentation.)
Days 40-45	Final Investment Decision (YES / NO).
Days 45-55	If the decision is YES, issue a Capital Call to collect commitments from investors.
Days 55-60	Closing of the Transaction.

Notifications & Next Steps for Your Application

To manage the increased volume of applications, we have implemented a new notification system. This system will send you updates on your application’s current status and required next steps via both SMS and email.

Please follow the instructions and complete the actions required in these notifications to ensure your application process moves forward efficiently.

TERMS & CONDITIONS This is an agreement of understanding between the presenting startup (“Company”) and CitySide Ventures LLC. (“CSV”) Your Company was selected and accepted to present to CitySide Investors Network for the purpose of raising venture funding, The Company hereby agrees to the following terms and conditions:

In the event that the Company will receive $25K-$50K in funding from CitySide Investor Network (CIN) the Company agrees to pay CSV an administration & coordination fee of $1,400 per round of funding and if the Company will receive $50K or more in funding from CitySide Investor Network (CIN) the Company agrees to pay CSV an administration & coordination fee of $2,600 per round of funding It is a one time fee regardless of the final amount of funding.
If the Company elects for CSV to Syndicate the deal with investors outside our CitySide Investor Network including our venture partners and the Company receives funding from our partners in the amount that is greater than $50K, CSV will charge an additional administration & coordination fee of $1,800 post funding.
The administration fee will be billed to the Company upon receiving the funding and clear in the receiving company bank account. The Company will be required to pay the invoice within 7 business days.
It is understood by the Company that all verbal or nonverbal commitments that are made by the CitySide Investor Network for funding are based on the information provided by the Company. In the event that any or part of the information to be found to be inaccurate, misleading or misrepresented, all deals and financial commitments will be immediately void.
The Company agrees to honor the commitment for investment by CitySide Investors Network or by SPV created by CSV if completed within 30-days of the Showcase presentation. The Company founders and management team will make themselves available for up to 2 face-to-face and/or videos (call) conferences that will be scheduled in advance of closing.
The Company founders and the management team agree to receive private calls from individual investors and respond within 48 hours.
The Company hereby agrees and permits CSV to post the name of the Company on the CSV webpage with name and logo and publish a press release with a portfolio update after funding that will be approved by the Company.
The Company is hereby prohibited from disclosing any information pertaining to CitySide Investor Network including name and contact information, CSV business operations, and practices without the expressed permission of CSV.

This partnership also includes ongoing communication and collaboration between CSV and the participating company, ensuring that both parties are aligned in their goals and vision for the venture. This close relationship allows for timely decision making and problem solving, as well as access to resources and expertise from CSV’s network of investors, mentors, and advisors.

By accepting investment from CSV, Birmingham Angels Members, or any other investment entity affiliated with CSV, Global Angel Network, the participating company acknowledges that all investors, whether investing directly, through an SPV, or via the venture fund, appoint CSV as their official legal and investment representative and portfolio manager throughout the entire investment life cycle. This partnership ensures a collaborative and supportive environment for the growth and success of the venture.

In addition to financial support, CSV also offers strategic guidance and operational support to help the participating company scale and achieve its full potential. Through regular check-ins

By accepting the application T&C the company agrees to the following requirement:

All members and syndication investors, whether investing directly or via an SPV, appoint CSV as their official representative and portfolio manager for the entire investment lifecycle.
Our investors select CSV as their portfolio manager and consent to the sharing of all investment-related information with CSV and authorize CSV to manage all such information. All communications must be directed exclusively to CSV. Direct communication with business partners should only occur with CitySide. If investor communication is necessary, contact CSV to handle accordingly.
We appreciate your monthly updates. Please ensure you complete the CSV’s Quarterly Online Update Form, which will be sent via Sidepitch by our portfolio management team. This form is due within 10 days after the quarter’s end. Timely submission is essential for tracking key performance data of our portfolio. Lezlie Foreman (Portfolio Manager) at lforeman@citysidevc.com is the contact for all updates should you have any questions.
The founder(s) have committed to conducting concise Quarterly “Check-Point” calls for updates, lasting 10 to 15 minutes, with our portfolio manager or another CSV representative per request in advance.
Must Complete the CSV Online Annual Portfolio Audit for the previous year by February 1st.
Please respond to any and all Non-Urgent communication from CSV within 72 hours and all Urgent communication within 24 hours.
In the event of legal issues that could impact the company and its investors, maintaining transparency and timely communication is crucial. Our company is committed to promptly providing all necessary documentation to CSV for immediate distribution to investors. This proactive approach underscores our dedication to open dialogue and accountability, helping to strengthen stakeholder relationships during challenging times.
All TAX filing and any other TAX documents that are related to the investment should be sent to the investors and CSV at the same time to maintain complete and accurate records.
CSV is committed to maintaining the confidentiality and privacy of our investors. The company is strictly prohibited from disclosing the identities of our investors to any external parties without first obtaining consent from both CSV and the investors themselves. Please refrain from sharing any CSV agreements, contracts, investment processes, or any information considered confidential without obtaining prior permission from CSV. It is crucial to uphold the confidentiality of such sensitive data to maintain the trust and integrity of our operations.
Keep your Sidepitch profile accurate and current. If you have a new Round of Funding open, please update your profile and add a new founding round to your profile with current deal info.
We believe in the power of open communication and are here to support you. Whether it’s a success, a challenge, or a concern, we rely on you to share everything with us. Our extensive network of experienced professionals is ready and willing to assist you. Remember, there’s no such thing as over-communicating. Your insights are invaluable, so please keep us informed. We’re here to listen and help.

FINAL MESSAGE FROM OUR TEAM

We understand that this application requires a significant amount of information. However, our experience shows that the more prepared a startup is, the faster we can reach an investment decision. Since both time and capital are critical in investment, we need your full cooperation to move quickly.

Our Power Tips for a Fast Decision:

Prioritize Speed and Completeness:
- Complete the application quickly (1-2 hours) to potentially save a month of work in the long run.
- Submit a complete application; do not skip any sections.
- The more detail you provide, the fewer follow-up questions we will need to ask.
Leverage the Process:
- Use the application process itself as a tool to identify areas where your startup needs development.
- Practice your pitch thoroughly before the scheduled investor showcase.
Ensure Technical Readiness:
- Test your technology and internet connection.
- Make sure your computer is fully charged.
- Confirm your slide deck is uploaded and ready to share.
Master Your Financials:
- The most crucial tip: Know your numbers backward and forwards. Investors are highly sensitive to founders or CEOs who do not have a strong grasp of their company’s financial data.

Birmingham Angels LLC (“BA”) is a service firm providing venture management services exclusively to qualified venture capital funds, private equity funds, and family offices under a contractual agreement. CSV operates under the exemption of Section 203(I) of the Investment Advisers Act of 1940 (the “Advisors Act”), as defined by the final rules promulgated by the SEC.

BA’s comprehensive range of services includes, but is not limited to:

Angels & Early Stage Fund & Investment Management
Venture Capital Fund Management
Syndication Management
Tech Incubation

BA AS AN ENTITY DOES NOT MAKE ANY DIRECT INVESTMENT INTO ANY COMPANY. CSV IS NOT A REGISTERED “INVESTMENT ADVISOR” UNDER STATE AND FEDERAL REGULATION. BA IS NOT A REGISTERED BROKER-DEALER AND IS NOT IN THE BUSINESS OF OFFERING INVESTMENT ADVICE TO THE PUBLIC, INDIVIDUAL INVESTORS NOR IN THE BUSINESS OF OFFERING, ENGAGED IN ANY ACTIVITIES OF SELLING OR TRADING SECURITIES OF ANY KIND TO THE PUBLIC.

While our current closing ratio is above average, participation in the complete application process does not guarantee funding. Our team will fully commit their efforts, but BA provides no warranties, guarantees, or promises of any kind that your startup will receive funding.

By submitting this application, you agree to allow BA a 60-day window from the date of publication to finalize the closing of your funding round. If your company requires the round to be closed, or has a mandate for it to be closed, in less than 60 days, please do not proceed with this application. We are dedicated to our “Pitch-To-Funding in 60-Days or less” process. Now that this commitment is clear, please continue with the online application below. We look forward to reviewing your submission and aiming for a prompt “YES.”

.If you have read our application guidelines and are ready to apply, please click on the link that is on the right side of the screen.

Now, after completing reading our application guidelines and would like to apply, please use the following link.

Start Your Funding Application

Pitch-To-Funding
In 60-Days or Less!

Application Sponsored By:

Jeffery M. Brogley

Principle | CPA
Regional Director – Advisory & Tax Service
Southeast Michigan Region
D 248.579.1105| C 248.421.6418 | rehmann.com

Book time with Michael Jeffery

What Startup DNA - Distinct Narrative Attribute we are looking for?

01. Scalable Tech

Technology based startups with innovative technology that passed the Proof of Concept stage that has the potential to scale globally. This should be confirmed with data or by objective experts. A comprehensive business plan has been developed to commercialize the technology.

02. Capital Efficient

Demonstrate their ability to be nimble and capital efficient in deploying and managing capital. A financially responsible founder(s) and management team that is resourceful and strategic with their Capital spending, treat and guards the investors money as their own capital.

03. Profitable Revenue

A scalable business model that can demonstrate how high gross margins and consistent cash flow growth will be achieved. Developed reasonable financial projections – including an income statement, cash flow and balance sheet and supporting spreadsheets – based on logical and realistic assumptions.

04. Capital Needs

In Tech based startups that are raising their Pre-Seed to Seed stage funding with a round size of $1M-$2M with valuation range of $6-$8M preferably (in rare occasions we will go higher) . Investment on an Equity (Priced) Round or Convertible Note preferably, No SAFE not please.

05. Management Team

At least one full time founder. We look for founders(s) and teams that are passionate, driven, professional and coachable. Past business experience an be an advantage in our selection process. Teams must be ready and open to work with advisors and/or a Board of Directors in a collaborative environment.

06. Protected IP

A clear and well defined and outlined Intellectual Property strategy in place and that the current company intellectual property is protected or in filing stage. IP based on exhaustive search has been performed to ensure no patents or trademarks, held by others, are infringed upon.

07. Market Scope & Size

A Market Ready startup. A proven best market fit, the projected spending in the product category is a fast growing. Your market segment is identified and proven there is a noticeable demand for the proposed solution. Preferable potential customers in the pipeline or pilot programs in play.

08. Competition

The competitive landscape is clear. Potential competitors are identified, and the company demonstrates a clear unfair competitive advantage and understanding of the company’s differentiation points. The barriers to entry are identified and there is a well defined strategy to execute

09. Exit Strategy

As part of the overall strategy, the company developed and defined a clear 3-5 years exit strategy and identify the potential buyers. Looking for startups that are well positioned to enable the early-stage Angel investors to generate a return of at least 10X their initial investment sooner then later.

Start your application process!

Pitch to Funding in 60 Days or Less!

Apply Online Now!

Our Startup Application Guidelines

In full transparency and visibility we will tell you everything you need to know about our requirements and approach.

Here are the basic requirements:

Company Stage & Structure:

Founded: Within 2 years or less.

Incorporated: Must be in the USA.

Legal Structure: C-Corporation, or an LLC actively converting to a C-Corp.

Team: At least one full-time founder is required; typically, we prefer at least two.

Funding & Valuation:

Funding Series: Pre-Seed to Seed (We do not participate in Series A rounds).

Round Size: $750K – $2M (Exceptions are rare for rounds exceeding $2M).

Pre-Money Valuation: $6M – $8M (A higher valuation is considered only with a high level of traction).

Our Ticket Size: $100K – $250K per deal; the vast majority of our investments are $100K to $150K. With our syndicate, our total participation can reach up to $500K.

Deal Structure: Equity Priced Round, Active Equity Round, or Convertible Note.

Note: We absolutely DO NOT invest using SAFE notes.

Geography:

Primary Focus: Michigan, the Midwest, and North America.

Secondary Focus (Case-by-Case): Startups from Israel and Western Europe.

Exit Potential & Valuation

Additional Information to Consider:

Legal & Geographic Scope:

Incorporation: incorporated outside the USA.

Geographies: We DO NOT invest in companies based in Eastern Europe, Russia, the Middle East (excluding Israel), Africa, India, China, or Southeast Asia. This exclusion applies even if the corporate entity is domesticated in the US or plans to move operations.

Industry Focus: The product or service must be legally, morally, and ethically sound. We avoid industries related to legal gray areas such as marijuana and real-money gambling.

Founding Team & IP:

Founders: No full-time founder(s) (non-negotiable).

Intellectual Property (IP): Must have existing IP or a clear plan to own IP.

Investment Terms & Stage:

Instrument Type: We invest in Convertible Notes (Debt) and DO NOT use SAFE instruments.

Closing Timeline: The funding round must not be scheduled to close in less than 60 days.

Outside Commitment: We prefer at least 20% of the round to have outside capital commitment already spoken for. Hard commitment (signed, sealed and delivered) not soft circle, please.

Cryptocurrency: We DO NOT invest in coin/token offerings, SAFTs, or any cryptocurrency-related projects.

Size & Valuation (Soft Limits Apply):

Round Size: Our soft spot is $1.5M; rounds greater than $1.5M are less preferred.

Valuation/CAP: Our soft spot is $6M – $8M; a valuation/CAP above $8M is less preferred, yet not impossible.

What are we looking for?

We have created a set of industry verticals and market sectors that we are committed to focus on to maximize our resources, we have created primary and secondary sectors of choice.

To expedite the review process and selection of companies for in-person presentations, please ensure that the Executive Summaries and accompanying PowerPoint presentations include the following required elements:

Presentation Outline: Key Components

Foundation

Why: The core purpose and driving force (Start with Why?).

What: The problem being addressed, the market need and size, and your proposed solution.

How: The approach and execution strategy.

The Offering

Product/Service Explanation: Detail the offering.

Technology: The underlying technical framework.

Intellectual Property: What is protected and how.

Market & Strategy

Competition Analysis.

Marketing & Sales Strategy.

Exit Strategy and Horizon.

The Business & Team

Management Team.

Financials & The Ask

Financial Overview and Assumptions (Reference example).

Revenue Projections ($000): Year 1 to Year 5.

The “ASK” & Terms: The capital needed and use of proceeds.

Deal Structure: Priced Round, Convertible Note (CN), etc.

Required Application Materials:

Complete Capitalization Table: Include all investor names and the total amount invested.

Current Debt Documentation: SAFE (Simple Agreement for Future Equity) or CN (Convertible Note) should be listed here, not on the Cap Table.

Draft Legal Documents:

Term Sheet

Subscription Agreement

Intellectual Property (IP) Documentation

Industry Research Papers

Supporting Business Information: Any other relevant materials to strengthen your application.

To ensure an efficient and straightforward application process, we have implemented a mandatory Two-Stage application. Please review this document in its entirety before submitting your application.

Phase I: Initial Screening and Qualification

This stage involves screening, qualifying, and matching your startup against our investment criteria.

Application Review & Qualification: X–X Days

First Introduction Pitch (Recorded): X–X Days

Management Review: X–X Days

Note: Our 60-day Due Diligence period officially begins upon the management team’s decision to proceed to the DD stage.

Stage Two: Due Diligence and Investor Presentation (60 Days)

Our team will conduct a comprehensive due diligence review of your company to prepare for presentation to our investors. The 60-day process is outlined below:

Duration

Activity

Days 0-15

Complete full Due Diligence and create a summary document.