Managing Member. Joe has 25+ years experience as a money manager and philanthropy consultant.
Prior to AngelSpan/The Legacy Funds/The Texas Legacy Fund, Joe founded and managed Legacy Capital Management, Inc., a fee-based RIA. Legacy was originally headquartered at 3000 Sand Hill Road in Menlo Park. He has been published multiple times in Institutional Investors Journal of Private Equity, Journal of Portfolio Management, and Practical Applications Journal and is a recognized expert in the optimal venture fund model.
Texas Trivia: Texans are proud of their history. The Daughters of the Republic of Texas (DRT) recognizes Ben Milam as the first hero and first martyr of the Texas Revolution. It was his military leadership that led to the victory in the Battle of San Antonio. The DRT proclaims Ben Milam caused the Battle at The Alamo.
Joe Milam is a cousin of Ben Milam, 7 generations removed. In fact, Joe’s first name is Ben, and he was born on the same day Ben Milam was killed – December 7th.
Co-General Partner. Adam has 15+ years experience in the investment management industry. Startup founder.
Adam began his career in the investment management industry advising high net worth families in areas of investments, philanthropy, estate planning and taxes. Adam has been with AngelSpan since 2016 as an Advisor, Chief Operations/Product Office, Board Member and significant shareholder. He is also one of the founders of The Legacy Funds and architect of its Venture-as-a-Service platform. Currently, he consults as a product and operations strategist. Adam is a graduate of Union College with both an Undergraduate degree and an MBA.
Co-General Partner. Alec provides portfolio analysis for the Texas Legacy Fund and Performance Analyst for AngelSpan’s startup clients.
Prior to joining AngelSpan, Alec used his early time out of college developing skills in consultative sales and marketing. He joined a digital marketing agency, where he established himself as a valuable campaign creator and manager. Additionally, he wore a second hat in driving new client acquisition, further honing his abilities in business development.
Alec obtained his degree from the University of Texas, where he majored in Economics, with a focus and curiosity towards behavioral economics and finance.
Venture Advisor. Mr. Carter focuses on private equity fund investments, and is responsible for deal sourcing and investment underwriting activities. He also heads the venture, growth, and regionally-targeted investment verticals. Mr. Carter built and took public the world’s largest engineered fiberglass-reinforced products company as Co-Founder and Vice President of business development of Denali Incorporated. While at Baker Hughes he participated in over $1.4 billion in completed acquisitions and divestitures. Mr. Carter received his Bachelor of Science with honors in Mechanical Engineering and his MBA with honors from The University of Texas at Austin.
Venture Advisor. Tim has been an active investor in the public markets for over 30 years and in the private markets for over 25. Most recently he was a Managing Director at Credit Suisse, managing the HOLT division following the sale to Credit Suisse in 2002.
HOLT became recognized as a state-of-the-art framework to do fundamental analysis on public securities and is now taught as part of the CFA curriculum.
At HOLT he rose from a Sales position to eventually the Presidency, negotiating the sale of HOLT personally to Credit Suisse.
86 of the nation’s largest 100 metros have either seen their share of the national (digital service jobs) sector go sideways or actually shrink since 2010.
– Brookings Institute
Texas startup CEOs now have a defined, transparent path to funding and no longer have to pitch. Instead, they’ll complete an online application.
With a clear path to funding, entrepreneurs can dedicate more time to building their business and fostering relationships with those that care about their success rather than spend an exorbitant amount of time trying to entice investors.
Entrepreneurs should be visible to investors that care about the breakthrough technology they are creating. The Fund and its advisors can provide companies with best-in-class tools and hands-on mentoring so long as the companies maintain a commitment to transparency.
Company specific and portfolio analytics to monitor execution and identify holdings that merit follow-on funding.
An early-stage venture fund that genuinely manages portfolio risk using institutionally rigorous diversification and security selection strategies.
Optimize on existing tax laws that can lower the after-tax risks and render profits potentially tax-free.
Inefficient analysis and monitoring
Inconsistent, if any
Lack any rigor or systematized method
Inefficient, deal by deal, followers
Few concerned with after-tax returns
Scattered focus, followers
Company and portfolio level analysis
Monthly updates and quarterly reports
Multi-factor filter to de-risk seed portfolio
Diversified and disciplined
QSB §1244 and §1202 optimized
Texas’s bright future of innovation