Posts Tagged 'angel groups'

Models of Angel Groups

May 30 2011 No Commented

Here is my June 2011 column published today in the Flathead Beacon on models for angel organizations.

Are Angels Really Stifling Innovation?

November 3 2010 2 Commented

Last week, Tom Foremski  suggested that the angel strategy of commercializing innovations and then rather quickly selling the startups was stifling innovation.  In doing so, Tom referenced Max Levchin’s recent blog in which he suggested that while this strategy makes money for the angels, it tends to discourage building breakthrough companies.  The implication is that […]

Valuation of Pre-revenue Angel Deals

September 23 2010 one Commented

I spent my summer developing a new ½ day workshop on the valuation of pre-revenue start-up companies for angel investors and entrepreneurs.  It is now complete and will be delivered in Tucson, Grand Forks, ND and Philadelphia in the next six weeks.  This was a volunteer project I completed for the Angel Capital Education Foundation. […]

Solo Angel Investing Versus Joining a Group

June 30 2010 No Commented

Solo Angel Investing Versus Joining a Group I was a solo angel investor from 1980 until 2000 and made a significant fraction of my 52 angel investments during that period.  Solo angel investing is just plain hard work.  I found that, as a solo angel, it was difficult to complete adequate due diligence and very […]

Don’t Take Angel Investments from VCs – a dissenting opinion

April 19 2010 No Commented

Don’t Take Angel Investments from VCs – a dissenting opinion In his recent blog Don’t Take Angel Investments From VCs, Bill Burnham cautions entrepreneurs not to include venture capitalists among investors in an angel round.  His premise is that these same VCs may choose to offer the entrepreneurs an onerous term sheet (low valuation, etc.) […]

Australian Angels Meet in Adelaide

March 3 2010 No Commented

Australian Angels Meet in Adelaide The Australian Association of Angel Investors (AAAI) held their 3rd annual meeting in Adelaide last week.  Attendance was over 125, showing a steady increase over the past three years.  The messages of interest were consistent with what we are learning around the world.  Not many VCs are raising new funds.  […]

Angel Group Deal Flow Statistics

February 22 2010 2 Commented

Angel Group Deal Flow Statistics To provide members with a broad selection of opportunities to invest in quality start-up ventures, angel groups encourage and are prepared to manage rather high deal flow.  Here are typical deal flow statistics for angel groups: Most groups encourage entrepreneurs to submit an executive summary or application via the group’s […]

National Organizations of Angels and Angel Groups

February 2 2010 No Commented

National Organizations of Angels and Angel Groups In my last post, I confessed that a decade ago I was skeptical about the value of national organizations of angels and angel groups, but I was wrong.   Despite my doubts, I participated as a member of the organization committee of the Angel Capital Association in the US.  […]

Syndication among Angel Groups to Close Larger Rounds

January 25 2010 No Commented

Syndication among Angel Groups to Close Larger Rounds In recent posts, I have described the growing US capital gap between typical angel and VCs round size.  US angels generally invest in rounds of $200K and $1 million, while VCs have moved from rounds of $2-3 million in the ‘90s to rounds of $7-8 million today.  […]

US VC Trends are Driving Angel Groups Towards more Angel-only Deals

January 19 2010 No Commented

US VC Trends are Driving Angel Groups Towards more Angel-only Deals In an earlier post, I reported that angels in some US groups are investing in more angel-only deals, that is, startups for which less than $1 million in funding will provide sufficient runway to achieve positive cash flow.  Angels are electing to seek out […]