How many groups can I apply to?
When using the Investor Search Engine to apply to groups, you can have up to 3 submitted applications at any time. We refer to this as an “active submission.”

What happens if I apply to more than 3 groups?
If you apply to more than 3 groups, your application will be tagged with “BULK” in the 4th group’s Angelsoft account. The 4th group will still receive your application, but we do let them know that you have more than 3 active submissions.

How do I apply to more than 3 groups?
If you have 3 active submissions and would like to apply to additional group without incurring the BULK tag, you must first withdraw 1 application by clicking the “withdraw” button. You have 3 open submission slots that you can fill with any application you choose. By withdrawing one of your 3 submissions, you open up a slot that can be used to submit another. If you desire broader exposure, we suggest taking advantage of our “Promote” tool.

How do I know when I can withdraw?
You can sort by “response time” on the Investor Search Engine to get a sense of how many hours or days it takes for a new submission to be viewed. If you have not heard back from a group within 30 days, use the “Deal E-mail Address” listed under each application on your Application Manager. This can be used to contact the General Manager of the investment group and any individual investors who have expressed interest. Ask them if they are intersted in moving forward with the deal, and if not, to let you know so you can seek opportunities elsewhere.

Why is there a 3-submission limit?
The 3-submission limit had to be implemented because some entrepreneurs were abusing our system by indiscriminately sending their application to investment groups. It was not a sustainable situation for groups who spent valuable time processing applications. If our investors become overwhelmed by applications, they will stop using Angelsoft and then entrepreneurs lose this resource. We realize that this isn’t a perfect solution for everyone, but thus far it has mostly met the needs of everyone involved.

I need broad exposure and I need it now!
We built the Promote tool for entrepreneurs seeking for broad exposure over our investor base of 15,000.  If you need reach beyond your 3 allotted application submissions, we recommend signing up for a subscription.

If I start more than 3 applications, will it count against my submission limit?
You can have as many un-submitted applications in your Application Monitor as you want. The 3-submission limit only counts towards applications you actually submit to a group.

Jason D. Schwartz :: Mar.08.2009 :: Entrepreneur, FAQ ::