With the aim of becoming patrons of the startup industry in Saudi Arabia and the GCC, we decided to aim our investments at the late-seed/early growth stage startups which is not only a stage that is most neglected by Angel groups and VCs but is a stage which startups are normally preparing to slingshot themselves on their trajectory of growth therefore open to offering favourable share prices while being in a position to be properly vetted by investors who have a little sense and a lot of faith.

We also wanted to simplify the application and negotiation process on the startup's side, which is why we set a predetermined valuation and term sheet knowing that that's the average valuation for startups at that stage in the market, as well as the fairest terms by which a startup would abide by at that stage of investment. 

We also decided to limit the club to a few Angels because we want to keep the club tightknit which will make the investment process easier and smoother.

There are traditionally two ways of angel investment, to be part of a fund which relinquishes the angel's ability to decide on the direction of their investment, or a request based investment process which allows the angels to decide on whether they want to invest in a particular round or not. Both scenarios have their advantage and disadvantages on both sides, but in order to make sure every ticket is full we've decided to adopt a democratic voting system which allows the angels to vote on any particular round but the majority votes always decide whether the investment is made or not. This is done through online vetting and then pitch events which allow the angels to get first-hand knowledge of the investment and time to lobby other angels on investing in their favourite startup.