Funding Cycle Information

2024 Funding Cycle Calendar

Entrepreneurs, please check your calendars against our funding cycle schedule below before you apply to ensure there are no conflicts.

Cycle 1 - Info Session - January 5th
Application Deadline: Monday, January 8th at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, January 16th, 5:00 - 7:30 pm CT
Pitch Night: Thursday, January 25th, 5:00 - 8:00 pm CT

Cycle 2 - Info Session - March 12th
Application Deadline: Monday, March 18th at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, March 26th, 5:00 - 7:30 pm CT
Pitch Night: Thursday, April 4th, 5:00 - 8:00 pm CT
RSVP At Eventbrite Link Here

Cycle 3 - Info Session - April 15th
Application Deadline: Monday, April 22nd at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, April 30th, 5:00 - 7:30 pm CT
Pitch Night: Thursday, May 9th, 5:00 - 8:00 pm CT
RSVP At Eventbrite Link Here

Angel Speed Dating (Office Hours)
Friday, May 3 · 9:45 - 11:45 am
Capital Factory (EXACT LOCATION IN CF TO BE ANNOUNCED)
701 Brazos St Austin, TX 78701
Eventbrite Link

Cycle 4 - Info Session - July 22nd
Application Deadline: Monday, July 29th at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, August 6th, 5:00 - 7:30 pm CT
Pitch Night: Wednesday, August 14th, 5:00 - 8:00 pm CT
RSVP At Eventbrite Link Here

Angel Speed Dating (Office Hours)
Friday, August 23 · 9:45 - 11:45 am
Capital Factory (EXACT LOCATION IN CF TO BE ANNOUNCED)
701 Brazos St Austin, TX 78701
Eventbrite Link

Cycle 5 - Info Session - September 9th
Application Deadline: Monday, September 16th at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, September 24th, 5:00 - 7:30 pm CT
Pitch Night: Thursday, October 3rd, 5:00 - 8:00 pm CT
RSVP At Eventbrite Link Here

Cycle 6 - Info Session - October 14th
Application Deadline: Monday, October 21st at 5:00 pm CT
Virtual Pitch Event for Top 8 Companies: Tuesday, October 29th
RSVP At Eventbrite Link Here

Angel Speed Dating (Office Hours)
Friday, November 15 · 9:45 - 11:45 am
Capital Factory (EXACT LOCATION IN CF TO BE ANNOUNCED)
701 Brazos St Austin, TX 78701
Eventbrite Link

Funding Cycle

Each funding cycle is at least six weeks long. Please review the structure below before you apply.

Before applying to CTAN, please check the funding cycle calendar for the most accurate cycle information. Pitches cannot be rescheduled, so we encourage you to be sure you’re available for all events.

Pre-Cycle Screening
Prior to Week 1, companies apply to CTAN by creating an application on our new system, Dealum, an online deal-flow platform.

In addition to responding to written questions in the application, the CTAN Dealum application requires that entrepreneurs complete the following items:
- Submit a completed screening checklist
- Submit a 2-minute video (with specific info as instructed)
- Review our FAQ page.
In the application, entrepreneurs classify their business into one of five industry sectors: B2B Software, B2C Software, Hardware/Other, Life Sciences, or Consumer Products.

Note: The application in our system and additional steps are critical to a company’s potential success in member voting, so we encourage applicants to give it careful attention.

During pre-cycle screening, companies that do not meet our Investment Criteria are notified that their application will not be presented to our members for consideration during the funding cycle. Applicants who meet our Investment Criteria are invited to participate in Week 1.

(Note: This will count as one of your two go-throughs for the cycle, so we highly encourage you to review the criteria and carefully follow all application instructions.)
Week 1: Round 1 of Member Voting

CTAN members review entrepreneur applications and vote for companies in which they have the highest interest. The top 8 that garner the most member interest are invited to our Initial Screening Pitch Event.
Week 2: Initial Screening Pitch Event

The Initial Screening Pitch Event will be held on Tuesday evening of Week 2. After the top 8 companies participate in our condensed pitch style event, we will launch Round 2 of Member Voting. At that point, we will narrow down to 4-6 companies for our Pitch Night. If our Investment Committee does not identify any red flags pertaining to the deal, companies are invited to advance to Week 3.
Week 3: Pitch Night

Companies that make it through Week 2 are invited to present to the broader CTAN membership at Pitch Night, which includes a cocktail hour for networking with investor members. Remote presentations can be accommodated at this time. If enough CTAN members express continued interest, we’ll schedule due diligence meetings with the team and interested CTAN members.
Weeks 4–6: Due Diligence

Selected companies meet with an interested group of CTAN investors for full due diligence. From the interested investors, a Deal Team needs to be formed to continue moving a deal through our process. The Deal Team will work with the company to better understand the business model and value proposition. In due diligence, we conduct customer reference calls, competitive analysis, market sizing, team reference calls, etc. We prefer in-person due diligence meetings but can accommodate remote meetings as well.

Throughout the Due Diligence process, the Deal Team works with the company to arrive at mutually agreeable investment terms. Once a term sheet has been agreed upon, the due diligence findings are made available to members, and we soft-circle interest from the full membership. If we are able to soft-circle interest, we begin working with legal counsel to close the deal.

Notes:
1) Members cannot soft-circle interest prior to this point. They also must soft-circle interest only to the CTAN Deal Team and Program Director, not directly to the company, due to the group nature of our process.
2) CTAN does not accept SAFE / KISS notes as an investment vehicle. We prefer equity rounds but will consider convertible notes with a valuation cap.

If you have questions, first reference our FAQ page and then email us at director@ctan.com if you still have outstanding questions.

Everything You Need to Know About Our Funding Cycle

Thank you in advance for considering applying to Central Texas Angel Network (CTAN). CTAN is one of the largest and most active angel investing groups in the nation, with 100+ members and more than $129 million invested in 215 companies. We are a nonprofit organization of accredited investor members, and we run up to five funding cycles per year.

CTAN initially evaluates companies based on a set of Investment Criteria. Please review these criteria prior to submitting your application.

Fees

CTAN charges an application fee of $150, due prior to submitting your application. The $150 application covers two attempts at our funding cycle, so any company that does not receive investment their first time applying can apply to one more future cycle of their choosing without paying the fee again.

Important: CTAN does NOT offer refunds. We recommend that you clearly understand the funding cycle process, as well as the pros and cons of applying to an angel group before submitting an application.

If CTAN members invest $100,000 or more in your company, CTAN collects an Administrative Fee of $5,000 upon closing. If CTAN members invest $300,000 or more in your company, CTAN collects an Administrative Fee of $7,500 upon closing. If CTAN members invest $500,000 or more in your company, CTAN collects an Administrative Fee of $10,000 upon closing.

“It Only Takes 1…”

It really does only take one interested investor to make a huge difference. While a majority of CTAN portfolio companies have progressed through the entire funding cycle, we typically see some additional companies receive funding each cycle that didn’t make it through the entire process. Perhaps the company didn’t receive enough votes, but a handful of members remained intrigued. We do not prevent interested members from conducting due diligence and investing outside of the process; in fact, we encourage it — as long as the company is not moving forward in CTAN’s formal funding cycle. We seek to help as many companies get funded by our member investors as possible.

Apply for Funding

Related Investment Information

Learn More About

Central Texas Angel Network

Founded in 2006, CTAN is the longest-running Angel Network in Austin and serves the Texas area. CTAN specializes in angel investing and co-investment opportunities.

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