Frequently Asked Questions

  • Q: What is Dooley's Angels?

    A: Dooley’s Angels is an angel investment network designed to connect successful alumni 
    investors — especially from the Emory community — with early-stage, Emory-affiliated 
    companies (founded by Emory students, faculty, staff, or alumni). The goal is to support 
    entrepreneurship within the Emory ecosystem, foster innovation, and generate both social 
    and financial returns while strengthening community bonds.

    Q: Why was Dooley's Angels founded? 

    A: We believe in the high potential of innovation arising from the Emory community. By pooling capital and expertise, Dooley’s Angels helps bridge the gap between promising early-stage ideas and the resources needed to accelerate growth — providing founders with funding, mentorship, and support, and offering investors access to curated, high potential opportunities.

  • Q: Who is eligible to join Dooley’s Angels? 

    A: We welcome:

    • Accredited investors who are interested in actively investing.

    • Aspiring angel investors (especially Emory alumni) who want to learn, network, and prepare for accreditation. Whether you are part of the Emory community or beyond, if you’re passionate about supporting Emory-affiliated startups — we encourage you to apply.

     

    Q: What membership tiers are available?

    • Investor Member - Accredited investors with full participation rights in deals. Full rights to invest in SPVs and participate in selection/diligence. Annual dues: $1,250

    • Apprentice Member - Aspiring angel investors (must be Emory alumni). Can observe, learn, and network — but cannot participate financially in deals. Annual dues: $250

     

    Q: What’s the difference between an Investor Member and an Apprentice Member? 

    A: 

    • Investor Members can invest in startups, vote on deals, join committees, and access all network resources.

    • Apprentice Members get access to educational workshops, networking events, and insight into the due diligence and deal-flow process — but do not contribute capital or invest. It’s designed for those preparing to become accredited or building their investing experience.

  • Q: What kinds of startups does Dooley’s Angels target?

     A: We focus on pre-seed and seed-stage companies that satisfy certain criteria: 

    • Founders’ team is ideally 2–3 people.

    • At least one founder (i.e. at least one-third of founding team) is affiliated with Emory (student, faculty, staff, or alumni). Active involvement of the Emory-affiliated founder is required (evaluated case-by-case).

    • The company has developed a Minimum Viable Product (MVP).

    • There is evidence of traction or validation — e.g., an active or completed pilot program (whether paid or unpaid).

     

    Q: What types of investment instruments do you use? 

    A: We primarily use early-stage finance instruments, such as: 

    • Convertible preferred stock

    • SAFE (Simple Agreement for Future Equity) notes

    • Convertible notes

    This flexibility helps support early-stage companies at a stage when valuations may be low or uncertain.

  • Q: How do we source investment opportunities? 

    A: Opportunities are sourced from within the Emory ecosystem — including student founders, faculty spin-outs, staff-initiated ventures, and alumni-led startups.

     

    Q: What does the screening and due diligence process look like? 

    A: 

    1. Initial Screening - Carried out by students from the Goizueta Business School under supervision of Business School staff.

    2. Review by Investor Members - Network members review due diligence, financials, business model, team, traction, and Emory affiliation.

    3. Pitch Event - Qualified companies pitch at our quarterly network meeting.

    4. Member Voting & Commitment - Investor Members signal interest; if sufficient interest, we move to pooled investment.

     

    Q: How are investments made? 

    A: When a deal is approved: 

    • We form a single-purpose vehicle (SPV) dedicated to that startup.

    • Members who commit capital pool resources into that SPV.

    • One Investor Member acts as Managing Member, which means:

      • They handle SPV administration and legal paperwork.

      • In return, they receive a 10% profits interest (carry) in addition to their prorata investment return.

     

    Q: What is the typical investment size? 

    A: Each startup deal targets approximately $100,000 total, pooled from interested Investor Members. Individual member investments can vary, depending on how many investors participate.

     

    Q: Are there fees or profit-sharing beyond the SPV structure? 

    A: Yes. The SPV pays a success fee to the Goizueta Center for Entrepreneurship & 4 Dooley’s Angels FAQs – 2025 December Innovation (CEI) to support hands-on experiential learning for students working on due diligence and deal support. That fee is typically 10% of the profits generated by the SPV (after return of capital).

  • Q: What are the benefits of being an Investor Member? 

    A: Investor Members enjoy: 

    • Access to carefully vetted, high-potential Emory-affiliated startups.

    • Participation in pooled early-stage investments.

    • Collaborative due diligence with fellow members.

    • Invitation to quarterly pitch events.

    • Opportunities to serve as Managing Member (carry potential).

    • Networking with other alumni investors and Emory community leaders.

    • Educational workshops, seminars, and mentorship opportunities.

     

    Q: What about Apprentice Members — what do they get? 

    A: Apprentice Members receive:

    • Access to educational workshops and seminars on angel investing, startup evaluation, deal structuring, etc.

    • Invitation to networking events with Investor Members and founders.

    • The chance to observe due diligence and deal processes, building knowledge before becoming investors.

     

    Q: Do members get access to detailed investment documents and pipeline info? 

    A: Yes — members (Investor and Apprentice) will receive access to a private member portal that includes: 

    • A member directory

    • Deal pipeline and investment flow

    • Due diligence materials (for approved deals)

    • Event calendar and announcements

  • Q: How can I join Dooley’s Angels?

    A: Interested candidates should complete our online membership application form — whether you’re applying as an Investor Member or Apprentice Member. Once reviewed, we’ll follow up with next steps. 

     

    Q: Is there a code of conduct or governing principles? 

    A: Yes. All members are expected to adhere to our Code of Conduct and community standards. This helps ensure integrity, professionalism, and respect within our network. 

     

    Q: What about legal documents and disclosures? 

    A: Upon acceptance, Investor Members will receive governing documents for SPVs, investor agreements, and disclosure materials. We encourage review (and legal or financial advice if desired) prior to committing capital. 

     

    Q: How often does the network deploy capital / make investments? 

    A: We host quarterly pitch events. Investment activity depends on the number and quality of approved startups. Some quarters may feature multiple deals; others may yield none. Our goal is quality over quantity — ensuring each SPV has high potential and strong due diligence.

  • Item descrQ: Who runs Dooley’s Angels and ensures compliance? 

    A: The network is member-governed. Due diligence is led by students of Goizueta Business School under faculty supervision, and final investment decisions rest with the Investor Members. The Managing Member of each SPV administers the investment. The structure helps maintain transparency and member oversight.

     

    Q: What fees or profit-sharing should I expect? 

    A: In addition to the annual membership dues:

    • Each SPV awards a 10% profits interest (carry) to its Managing Member.

    • A success fee — typically 10% of profits — is payable to the Goizueta CEI to support ongoing student engagement and program expenses.

    • These terms are disclosed (and agreed) upfront, before any investment is made.

     

    Q: What is the level of risk? 

    A: As with all early-stage investments, there is significant risk, including loss of capital, dilution, long time horizons, and uncertainty. Investors should be prepared for a high-risk / high-reward profile and should only invest amounts they can afford to loseiption

  • Q: Who can I contact if I have additional questions? 

    A: Please reach out to our team at entrepreneurship@emory.edu.

     

    Q: Where can I find the membership application and relevant documents? 

    A:

    (Note: Links and portal access are provided upon acceptance as a member.)

  • Q: Can non-Emory alumni join as Investor Members? 

    A: Yes. We welcome accredited investors beyond the Emory alumni base, especially those passionate about supporting the Emory community and its entrepreneurs. However, Apprentice Membership is limited to Emory alumni.

     

    Q: If I’m an aspiring investor but not yet accredited, can I still participate in deals through a mentor or syndicate? 

    A: Not through Dooley’s Angels directly. As an Apprentice Member, you are not eligible to participate financially. If you become accredited, you may apply to convert to Investor Member status.

     

    Q: Does Dooley’s Angels invest in non-Emory-affiliated companies?

    A: No. Our mandate is to support companies — at pre-seed or seed stage — that are founded by individuals with a direct Emory affiliation (students, faculty, staff, or alumni). This ensures that our capital and support stay within the Emory ecosystem.

     

    Q: What happens if a startup fails or doesn’t generate returns? 

    A: As with all early-stage investing, downside risk is real. If a portfolio company fails, the SPV may lose part or all of the invested capital. Investors share in that downside according to their pro-rata share. There is no guarantee of returns.

     

    Q: Does Dooley’s Angels offer tax advice or guarantee any tax benefits? 

    A: No. We are not tax advisors. Investors should consult their own financial or tax advisors regarding any potential tax treatment (e.g., for SPV investment, long-term capital gains, etc.).