Angel Capital Association

What Angel Capital Association does

The Angel Capital Association (ACA) is a nonprofit professional membership association headquartered in Overland Park, Kansas, that supports the success of angel investors. Founded in 2009, ACA represents more than 15,000 individual accredited investors who invest individually or through over 200 angel groups and platforms, with member activity resulting in more than $500 million in early-stage capital deployed annually across 30,000+ portfolio companies. Although ACA is not itself a funding source, it operates as the central professional and trade body for the angel investing asset class in North America.

ACA's core offerings include a structured investor education curriculum (Ann and Bill Payne ACA Angel University, delivered live, virtually, and on-demand, with core and advanced courses culminating in certificates), the AngelBox Basics Toolkit for group formation, the annual Angel Funders Report, peer-reviewed Angel Insights Publications, The Angel Next Door podcast, the flagship ACA Summit and the Innovation Funders Showcase, the Women's Investor Forum, standardized legal documents such as the Model Convertible Promissory Note, and named industry awards including the Luis Villalobos and Hans Severiens Awards. The organization also performs active public policy advocacy in Washington DC and at state level (e.g., endorsing the American Innovation Act, H.R. 1778).

Revenue is generated through a mix of individual and group membership dues, event registration, Angel University course and bundle sales, multi-year corporate partnerships with law firms (Fox Rothschild, K&L Gates, Morgan Lewis, Foley Hoag) and ecosystem service providers (Siemens, VentureWell, Dealum, ALto, NIH SEED, Startup Steroid, The Diligent Observer), and the $500/year Pathway Partnership entry tier for ecosystem builders. The Angel Investor Foundation operates as ACA's charitable arm. The organization is led by CEO Pat Gouhin and a volunteer board composed of representatives from member angel groups, with no parent company or external institutional investors.

Name

Angel Capital Association

Legal name

Angel Capital Association

Website

https://angelcapitalassociation.org

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

The Angel Capital Association (ACA) is a nonprofit professional membership association serving over 15,000 individual accredited investors and 200+ angel groups across North America through investor education, networking, deal syndication, data analytics, and public policy advocacy for the early-stage investment ecosystem.

Ownership category

akta.pro rank

Product category

Angel Investor Professional Association Services

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industry

Enterprise Architecture & IT Operating Model (BPAHAEAB)

Keywords

• Angel investor association
• Early-stage investment education
• Angel group formation
• Startup investment advocacy
• Investor education programs

Headquarters

HQ city

Overland Park

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership Dues: ACA generates revenue through membership fees from individual angel investors and angel groups. The organization represents over 15,000 individual accredited investors who invest individually or through more than 250 angel groups and platforms.
2. Event Registration Fees: Revenue from ACA Summit, Women's Investor Forum, webinars, and other educational events. The annual ACA Summit is a flagship gathering for angel investors offering professional development, best practices, and community-building.
3. Angel University Education: Revenue from educational courses including Angel University Live, on-demand courses, and course bundles (core curriculum of 6 courses or full advanced curriculum of 11 courses). Discounts available for multi-course bundles.
4. Pathway Partnership: Annual partnership program at $500/year providing visibility, connections, event discounts, and complimentary Angel University course. Designed as an affordable on-ramp to ACA's angel investing community for ecosystem builders.
5. Annual Partnership Sponsorships: Multi-year partnerships with corporate sponsors providing meaningful connection with ACA's membership base. Partnerships are customized and provide benefits including board introductions, thought leadership opportunities, and partner logo visibility.
6. Publications and Data Reports: Revenue from Angel Funders Report, white papers, and investor insights publications. The Angel Funders Report is published annually based on direct investment data from member groups.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

The Angel Capital Association is a professional membership and trade association that supports the success of angel investors through education, networking, deal syndication, data analytics, and public policy advocacy. It sells membership access, the Ann and Bill Payne ACA Angel University curriculum, the AngelBox Basics Toolkit, the Angel Funders Report, model legal documents, and flagship events including the annual ACA Summit and Women's Investor Forum, serving over 15,000 individual accredited investors and 250+ angel groups and platforms.

Product overview

The Angel Capital Association (ACA) offers a comprehensive suite of products and services for angel investors, consisting of educational programs (Angel University with core and advanced courses leading to certificates), practical tools (AngelBox Basics Toolkit for group formation and Angel Funders Report for data analytics), publications and thought leadership (Angel Insights Publications including white papers and The Angel Next Door Podcast), annual events (ACA Summit and Women's Investor Forum), model legal documents (Model Convertible Promissory Note), awards programs (Luis Villalobos Award and Hans Severiens Award), scholarship programs (Bill Payne Memorial Scholarship), and membership tiers including the Pathway Partnership entry-level option. These offerings work together to provide angel investors with professional development, data insights, deal flow access, and community building resources.

Differentiator

Problem solved

Functional benefit

Brands

• Ann and Bill Payne ACA Angel University: ACA's premier education curriculum providing early-stage investor education including core courses (Fundamentals of Angel Investing, Risks in Angel Investing, Angel Returns and Portfolio Strategy, Due Diligence, Term Sheet Basics, Valuation) and advanced courses (Introduction to Boards, Angel Exit Strategies, Boards in Action, Angel Group Formation, Advanced Cap Tables).
• Angel Investor Foundation
• ACA Summit
• Innovation Funders Showcase
• Women's Investor Forum
• AngelBox Basics Toolkit
• Angel Insights Publications
• The Angel Next Door Podcast
• Luis Villalobos Award
• Hans Severiens Award
• Angel Funders Report

Products and services

• AngelBox Basics Toolkit A complimentary interactive toolkit for investors and ecosystem builders to plan and implement angel groups, organized into sections covering Pre-Formation, Organization Nuts and Bolts, Angel Fund Nuts and Bolts, and Deal and Investment Management.
• Ann and Bill Payne ACA Angel University A premier education curriculum providing investor education through virtual, face-to-face, and self-paced on-demand courses taught by experienced angel investors, with core courses (Fundamentals of Angel Investing, Risks in Angel Investing, Angel Returns and Portfolio Strategy, Due Diligence, Term Sheet Basics, Valuation) and advanced courses (Introduction to Boards, Angel Exit Strategies, Boards in Action, Angel Group Formation, Advanced Cap Tables).
• Angel Insights Publications A series of peer-reviewed resources from angel experts providing insights on market trends, deal strategies, and smart investing practices, including white papers on topics such as improving angel returns, revenue-based investing, and pre-revenue valuation.
• The Angel Next Door Podcast A podcast hosted by Marcia Dawood exploring stories of how people got started investing in startup companies, featuring interviews with investors and entrepreneurs about angel investing practices and experiences.
• Angel Funders Report An annual report published by ACA that provides comprehensive data on angel investor activity, investment trends, and the investing environment based on direct data from ACA member groups across North America.
• ACA Summit The flagship annual gathering for angel investors offering professional development, best practices sharing, deal flow access, awards, and community-building for the early-stage investing ecosystem.
• Women's Investor Forum A dedicated forum focused on women's participation in angel investing, providing networking, education, and investment opportunities for women investors.
• ACA Model Convertible Promissory Note An enhanced model convertible promissory note document developed by ACA to streamline early-stage venture financing, balancing rights of founders and investors with best practice provisions including expanded representations and warranties, participation rights, information rights, MFN provisions, board observer seats, and protective provisions.
• Bill Payne Memorial Scholarship An annual scholarship program honoring Bill Payne, the 'grandfather of angel investing,' providing one recipient with access to the full Ann and Bill Payne ACA Angel University course suite culminating in the Advanced Angel Investing Certificate.
• ACA Awards Program Annual awards recognizing excellence in angel investing, including the Luis Villalobos Award for innovative companies funded by ACA members (Technology and Life Sciences categories) and the Hans Severiens Award for individuals advancing the field.
• Pathway Partnership A simple, affordable on-ramp membership tier at $500/year providing visibility, connections to ACA's national community of angels and investors, event discounts, and one free Angel University On-Demand course to ecosystem builders and innovation leaders.

Quantifiable outcome

• Only 2% of startups applying to angel groups reach an investor's portfolio, highlighting the value of ACA's vetted deal flow and screening processes
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• DealumcoreTechnology or Integration · 1 July 2024Dealum provides investment data platform services to ACA, supporting the organization's data analytics initiatives and Angel Funders Report. Dealum-logo appears on ACA's partnerships page indicating ongoing collaborative relationship.
• Fox Rothschild LLPminorImplementation/ SI/ Consulting PartnerLegal partnership providing model convertible promissory note and term sheet documents. Fox Rothschild attorney Elizabeth D. Sigety chaired the task force that created ACA's enhanced model convertible promissory note.
• K&L Gates LLPminorImplementation/ SI/ Consulting PartnerLegal partnership providing thought leadership and educational content on legal issues affecting angel investors. K&L Gates logo appears on ACA's partnerships page.
• Morgan Lewis & Bockius LLPminorImplementation/ SI/ Consulting PartnerLegal partnership providing expertise on early-stage financing and securities law. Morgan Lewis attorney Benjamin David Novak served on the ACA Model Convertible Note Task Force.
• Foley Hoag LLPminorImplementation/ SI/ Consulting PartnerLegal partnership providing securities law and early-stage investment expertise. Foley Hoag logo appears on ACA's partnerships page.
• SiemensminorOthersCorporate partner with Siemens logo displayed on ACA's partnerships page. Nature of partnership involves Siemens' interest in early-stage innovation and startup ecosystem support.
• VentureWellcoreStrategic or Co-development PartnerVentureWell provided funding support for the development of AngelBox Basics Toolkit, created to assist communities with planning and launching new angel groups. Partnership reflects shared mission of supporting early-stage entrepreneurship.
• NIH SEEDminorStrategic or Co-development PartnerNIH Seed (Small Business Education and Entrepreneur) partnership supporting early-stage health and life science innovation. NIH SEED logo appears on ACA's partnerships page.
• ALtominorOthersALto IRA provides retirement fund investment solutions enabling angel investors to use retirement funds for startup investments. Partnership provides educational content on alternative retirement investing.
• Startup SteroidminorOthersStartup ecosystem platform partner with logo displayed on ACA's partnerships page.
• The Diligent ObserverminorOthersDue diligence and research partner providing services to ACA's investor community. Partnership announced in late 2025.
• Keiretsu Forum-MSTcoreChannel Partner/ Reseller/ DistributorKeiretsu Forum-MST is a premier sponsor of the Innovation Funders Showcase at the ACA Summit, marking 13 consecutive years of participation. They select and sponsor vetted early-stage companies for the showcase, representing curated deal flow shaped through structured screening.
• InBIAcoreStrategic or Co-development PartnerInBIA (International Business Innovation Association) announced collaboration with ACA for April 2027 to combine annual convenings into a collaborative event bringing together entrepreneur support organizations and early-stage investors. Will include joint keynotes, networking, and curated company showcases.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• European Business Angels Network (EBAN): EBAN is the pan-European trade association for angel and early-stage investors, mirroring ACA's role as a membership association, educator, and public-policy advocate — but for the European market rather than North America.
• AngelList: AngelList is the dominant online platform connecting angel investors with startups, syndicating deals, and forming SPVs. It serves the same end-investor audience as ACA's member groups but through software rather than association-based intermediation.
• Gust: Gust provides deal-flow management, group administration, and investor syndication software to angel networks globally. It overlaps directly with ACA's member group use cases (deal sharing, screening, portfolio tracking) but as a SaaS infrastructure provider.
• Keiretsu Forum: Keiretsu Forum is one of the world's largest angel networks with chapters across multiple countries, investing across technology, life sciences, and consumer. As an ACA member and Innovation Funders Showcase sponsor, it is comparable in scale and member-driven model.
• Golden Seeds: Golden Seeds is a national angel network focused on investing in women-led companies. Like ACA's member groups, it pools accredited investor capital, screens deals, and supports portfolio companies through an education and community model.
• Band of Angels: Band of Angels is one of the oldest Silicon Valley angel groups. It is a member of ACA (with board representation) and offers a directly comparable model of organized, dues-paying angel membership with deal screening and education.
• Tech Coast Angels: Tech Coast Angels is one of the largest and most active angel networks in the US, with multiple chapters across Southern California. As an ACA member and represented on ACA's board, it operates a directly comparable organized angel model.
• Pipeline Angels: Pipeline Angels is a network changing the face of angel investing by training and mobilizing women and non-binary investors. Its education-and-syndication model overlaps directly with ACA's Angel University and women's investor programming.
• Alliance of Angels: Alliance of Angels is a Seattle-based angel network that screens and funds early-stage companies, providing similar deal flow, education, and community resources to its members as ACA's member groups do nationally.

Broad incumbents

• National Venture Capital Association (NVCA): NVCA is the broader trade association for the venture capital industry. It shares ACA's advocacy, policy, and member-service role but covers institutional VCs rather than individual angel investors and angel groups — making it a larger, adjacent incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ACAAngelCapital
• YouTubeyoutube.com/channel/UCYUIIGZppe37GpG7b51MPow/videos
• Facebookfacebook.com/ACAAngelCapital
• LinkedInlinkedin.com/company/angel-capital-association

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Angel Capital Association