37 Angels

37 Angels is a network of more than 100 women angel investors, built around closing the gender gap in angel investing through education rather than exhortation. Its distinguishing feature is that new members go through a structured bootcamp before investing.

Who joins

Members must be accredited investors under the US standard: net worth above US$1 million excluding a primary residence, or income above US$200,000 individually or US$300,000 with a spouse for the past two years.

The network is built for women, though men may apply, since the stated aim is broadening who invests rather than excluding anyone.

How membership works

The financial terms are published and there are two of them, which matters because the second is larger.

Membership costs US$5,000 in the first year, including bootcamp tuition, and US$3,000 a year thereafter. Separately, members commit to investing a minimum of US$25,000 a year and to joining at least one diligence team annually.

Read those together before applying. The real annual commitment is closer to US$28,000 in year one than to the headline fee, and a member who does not intend to deploy capital will not fit.

What members get

The bootcamp is the reason to choose this network over a cheaper one. It is taught in part by a founder who teaches venture capital at Columbia Business School, and it is experiential rather than theoretical: participants run diligence on real companies under supervision, then apply it immediately in live pitch sessions.

That structure addresses the actual problem with angel investing. The mechanics are easy to describe and hard to do, and most new angels learn by losing money on their first few cheques. Learning on real deals with mentors watching is a considerably cheaper education.

Beyond the bootcamp, members get a network of more than 100 women investors, invitation-only events and workshops, mentoring, and professional development.

The network advertises portfolio performance above 20% internal rate of return. That is a self-reported figure with no independent audit behind it, as is normal for private investment groups, so weigh it accordingly rather than as a verified return.

For a family office, the clearest use is developmental: a structured, well-supervised way for a family member to learn direct investing, with published costs and a stated minimum so there are no surprises.