Sand Hill Angels (SHA) is one of the largest and most active angel investor networks in the U.S., composed of 140+ Silicon Valley-based accredited investors focused on supporting seed-stage and early-stage technology companies with capital, mentorship, and strategic connections. Members invest their own capital collectively or individually, and SHA aggregates member interest into single cap-table entries to simplify founder engagement.

Pre-Seed / Seed: Core focus on seed-stage companies, typically with a developed product, early customer wins, or alpha/beta traction.
Early Institutional: May participate in early Series A or bridge rounds alongside other angel groups and VCs.

Typical Investment Size: Collective SHA participation in a round often aggregates to approximately $250,000–$1,000,000 (sometimes as low as ~$50K or exceeding $2M depending on member commitments and syndication).
Equity Position: Sand Hill Angels does not publish a fixed ownership percentage it takes on every deal (angel networks generally negotiate terms per round). Founders should expect minority equity stakes consistent with early-stage angel investing norms:
• Seed/angel rounds typically see collective dilution of ~10–25% across all angel and early investors, depending on valuation and round size (industry norm).
• Individual SHA participation contributes to that collective share; final ownership from SHA’s slice will depend on valuation, total capital raised, and member commitments — e.g., a $500K total angel slice on a $5M valuation suggests ~10% total angel equity, with SHA’s portion proportional to its contribution. (Angels often negotiate equity rather than take control.)
Preferred Instruments: SHA invests via priced equity rounds, SAFEs, or convertible notes depending on founder preference and round structure.
Board/Governance: SHA may negotiate for board observer or board seats through its member participation when its capital role is substantial; governance terms are negotiated with founders on a case-by-case basis.

Submission Method: Founders apply via SHA’s deal management platform (Deelum) or through warm introductions; pitch meetings are coordinated with member review. 
Member Pitch Process: Startups present to SHA members at regular pitch events where interested investors evaluate and vote on opportunities. 

Sector Focus: Broad tech emphasis (software, SaaS, life sciences, cleantech, semiconductors, diagnostics, etc.).
 Geography: Primarily U.S. companies (especially Northern California), though exceptions are possible for standout opportunities. 
Stage: Early growth with demonstrable traction (alpha/beta product or initial revenue). 
Team: Founders with strong execution capability and domain expertise.

Initial Intake: Submission review for product, team, and growth potential.
 Pre-Screening: Shortlisting for pitch events.
 Member Pitch & Discussion: Live pitches with Q&A.
 Due Diligence: Interested members conduct deeper market, product, and financial diligence.
 Term Negotiation & Close: Terms agreed with founders and investors; SHA’s multi-member participation is consolidated on the cap table.

Strategic Capital: Early institutional/angel capital in the ~$250K–$1M+ range backed by experienced Silicon Valley investors.
Mentorship & Network: Access to deep operational expertise, entrepreneurial mentorship, and connections to key ecosystem partners and VCs.
Follow-On Support: Ability to participate in bridge and early Series A rounds alongside co-investors and venture capital partners.