This is a group expected to have membership of between 100 and 150 committed individuals seeking to invest pooled resources in early stage small businesses located in Penyi, in the Volta Region of Ghana. The union will benefit all members (angels) by providing them an increased knowledge base and the ability to execute larger deals than an individual angel may wish to fund. It also simplifies the
process of due diligence by saving each investor from doing it on his own. The main goal of this union is to catalyze the development of our community, Penyi. We will support budding entrepreneurs who live in Penyi to be successful and also make good returns on the monies invested for members. Any entrepreneur supported must either be a member or becomes one immediately there is a decision for him/her to be supported.. To attract angel investment, an entrepreneur needs the ability to explain clearly how the startup solves a problem and how the business will be profitable. Though it will vary, we will be seeking a return of about 25% per year on our investments. An entrepreneur must show how the startup can feasibly accomplish this. If the business will not grow at that rate, the angel may know others with somewhat lower financial motivation that would be willing to fund the company. Due diligence should be done by the union in order to ensure a good fit and an excellent relationship after the funding occurs. Angels are expected to mentor and coach the supported entrepreneurs anytime they visit Penyi. The Angels will meet every quarter to discuss business investment opportunities at Penyi and review progress reports on investments made.
