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Part 2 on how I started angel investing. How did I secure a spot in good deals? 
Now, I'm not the world's greatest expert. For that, please read:
https://nav.al/angel-1
https://nav.al/angel-2
But, I got a solid return multiple & raised a fund off of those returns.
Now, I'm not the world's greatest expert. For that, please read:
https://nav.al/angel-1
https://nav.al/angel-2
But, I got a solid return multiple & raised a fund off of those returns.
1. Develop expertise & share it with startups you like (e.g. content, research memos).
2. Be helpful: Make intros, do some work on your own time for them, send good hires along. Better to do this before a round, so that it's an easier ask to participate at the time of a round.
2. Be helpful: Make intros, do some work on your own time for them, send good hires along. Better to do this before a round, so that it's an easier ask to participate at the time of a round.
3. Stay in touch. A round may come & go. You may not know unless you maintain contact. Make sure you're on their regular updates list.
4. For cold reach-out, I state clearly why I love what the co does & the exact value I can add. I request a meeting to chat. Enthusiasm is key.
4. For cold reach-out, I state clearly why I love what the co does & the exact value I can add. I request a meeting to chat. Enthusiasm is key.
5. Be aggressive & move quickly to secure your allocation.
6. Don't delay & close with the group. Get docs & wires done on time. Get set up in advance (are you investing via trust? get your docs done; do you have bank account open with funds in there? Can you wire online?)
6. Don't delay & close with the group. Get docs & wires done on time. Get set up in advance (are you investing via trust? get your docs done; do you have bank account open with funds in there? Can you wire online?)
7. If you don't have much dry powder but you have expertise, offer to be an advisor in exchange for common stock.
Don'ts:
1. Don't negotiate terms unless you're the lead. Don't be high maintenance.
2. Don't feel pressured to do deal just because it's hot. I mostly say no, rarely yes.
1. Don't negotiate terms unless you're the lead. Don't be high maintenance.
2. Don't feel pressured to do deal just because it's hot. I mostly say no, rarely yes.
3. Don't feel that just because you're not leading, you should be treated poorly. Ex: You should get access to the same share room as the lead investor.
4. Don't enter into uncapped notes for the love of God.
4. Don't enter into uncapped notes for the love of God.
5. Initially, I didn't put all eggs in one basket. I diversified (spray and pray) & as I started to see good returns, I further concentrated & made bigger bets.
6. Don't make empty promises that you can't deliver on post-closing. Don't ghost the startup once the deal closes.
6. Don't make empty promises that you can't deliver on post-closing. Don't ghost the startup once the deal closes.
