Welcome to New Mexico Angels
The forerunner to the New Mexico Angels, Inc. (“NMA”) was the New Mexico Private Investors, Inc. (“NMPI”). NMPI was originally started in April 1999 by George Richmond, and consisted of a few members who occasionally got together to hear of a new potentially exciting investment opportunity, and then perhaps to make an investment into the company. Under George’s direction, NMPI grew to become much more organized, become a 501(c)(6) non-profit organization with established by-laws and Articles of Incorporation, and a Board of Directors. In addition, it became a member of the Angel Capital Association, and began putting on seminars and workshops on investing that were prepared by the Kauffman Foundation.
Through 2004, NMPI made several investments in different technology companies totaling about $2.5 million. The organization was growing in stature and in membership, but it was still a very loosely woven organization that had no staff, no funds, no membership applications nor member fees, no organized mechanism of a selection process for presenting companies and no calendar of events for the corporate presentations. The workload was increasing daily with the need of record-keeping, corporation reports, selection process, seminars and workshops, due diligence and follow-up. It was decided that NMPI needed an Executive Director.
In January 2005, Dr. Jerry Mattingly became the organization’s President. Jerry had recently moved to New Mexico from the Bay Area, where he had been very involved with angel investing, venture capital, screening and due diligence. It was also decided that there would be application forms for members, there would be membership annual dues, there would be a revolving Chairmanship of the Board, there would be a good accounting system in place, there would be an organized sponsorship program, there would be committees made up of volunteer members (screening, marketing, sponsorship, due diligence, etc.), there would be monthly newsletters from the Executive Director to all members, and there would be quarterly presentations made to the membership by presenting companies over an informal dinner setting. At the end of 2005, NMPI had 52 dues-paying members, all accredited investors. George Richmond was granted the only “emeritus member” status, which is a life-long free membership for his tireless work in organizing and maintaining NMPI.
In January 2006, it was decided that the organization needed a “face-lift”. The Board voted to change the name of the organization to New Mexico Angels, to create a new logo, new stationery, new corporate colors, etc. It was also decided to upgrade our website to make it much more interactive and informative to members. The NMA website now has a password-protected “Members Only” section, where the members can readily communicate with each other regarding potential investments, easily learn the backgrounds of other members, and post memos. It also has a section for the Screening Committees where the company business plans can be posted for screening and dialog, and it has a Board Member section for the timely posting of Minutes, potential Agenda items, sponsorship and membership data, financial statements and other items of interest. Of course, members and non-members alike can still visit the website, locate our sponsors, learn about the presenting companies, view the published agenda of the meetings, seminars and workshops, and companies can still use the Entrepreneur section to submit their applications.
The Board also voted to increase yearly dues for members. This was for a couple of reasons: (1) we had a grant of $200,000 to launch a successful angel investing organization within New Mexico, and (2) we had many members who were not really interested in angel investing. We were about 75% of the way through the grant, and it was time for our members to pay their fair share, and to allow the “bystanders” to leave. This was done, as of January 2007. We lost members, we gained members, and the organization is now flourishing. We are having dinner meetings, breakfast meetings, more companies are being reviewed for investments, more members are investing more dollars, and more startup companies are being launched. More members are involved with screening and with due diligence, there are more and better sponsors, and very active Board members. Every organization should be so lucky!
After serving as President for three years, Jerry decided it was time for new blood in the position. In February 2008, the Board of Directors named John J. Chavez as Jerry’s successor. John Chavez is the President of Tafoya and Brainerd Partners LLC, a nationwide business development consulting firm. Mr. Chavez is also the Director of State Government Solutions at Financial Management Systems, a Chicago based financial services firm. In addition, John has been an active angel investor since 2003. John is a Member of the Board of Directors for One Connect Internet Telephone Company, a New Mexico Angels member portfolio company. Prior to creating Tafoya and Brainerd Partners LLC, Mr. Chavez was appointed by New Mexico Governor Gary Johnson as the Cabinet Secretary of the Taxation and Revenue Department. Mr. Chavez served as Cabinet Secretary for six years and as the President of the Federation of Taxation Administrators for one year. John is also a Member of the Board of Directors of the Squash Blossom Classic - an organization that organizes a yearly adventure sport event in McKinley County.
John received the following degrees from New Mexico State University.
Master of Business Administration
Bachelor of Art in Economics
Bachelor of Business Administration in Finance