Sand Hill Angels

No. Sand Hill Angels is a member-driven organization, not a pooled investment fund. Members pay annual fees and make independent investment decisions on a deal-by-deal basis. The group does not share in the profits of member investments and does not charge presenting companies any fees.

Sand Hill Angels writes checks ranging from $50,000 to more than $2 million, primarily into seed through Series B rounds. The group prefers priced equity but will use convertible notes or SAFEs when appropriate. It targets companies with a developed product in alpha or beta, or those already generating revenue.

Sand Hill Angels frequently co-invests alongside Gaingels and Alumni Ventures in various startup rounds. The group also maintains relationships with Bay Area venture capital firms, helping portfolio companies secure later-stage financing. Its members’ networks, which often include accelerators like StartX, supplement these institutional co-investor relationships.

RAW is a pitch-practice forum where founders present to Sand Hill Angels investors and receive direct feedback before entering formal fundraising. It is designed to be low-pressure and educational, giving entrepreneurs a chance to refine their pitch and understand what investors look for. The program also serves as a networking and scouting venue for members.