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I recently posted this story, “Is there an angel in your startup future?” which in turn triggered Jeremy Campbell for advice on how he can meet angel investors for his startup?
Who better to ask than Jerry King, Principal of J.C. King & Associates who’s in the business of connecting angel investors and startups, and we also had Jerry as the Chair for the Start IT Up Day during TorontoTechWeek.
Here are Jerry’s 6 Tips on How to Meet Angel Investors for Your Startup:
- Be Angel-Ready. Jumpstart the process by pulling together a formal advisory board, gathering the data for a prospectus, and obtaining quotes for directors’ insurance.
- Pluck the low hanging fruit. Start by exhausting your inner circle–the “family, friends, and fools” category. These are the folks who know you best and who should be among the first to believe in and invest in you and your vision.
- Mind your “p’s” and “q’s in existing relationships. Because you and your company are always on display, being effective and professional in your dealings with both your suppliers and your customers goes a long way. A good relationship with either can be the basis for a subsequent investment in your young, well-run, company.
- Network—the noun. Investigate the Web sites put up by geographically-based angel clubs or networks e.g. Maple Leaf Angels, The New York Angels, etc. in which individual angels have banded together into quasi-professional investment syndicates. The Web site will often detail the particular interests, selection criteria, and investment history of the group.
- Network—the verb. When you’re attending industry conferences talk to other attendees, in particular, to any venture capitalists in attendances. Chances are, they are looking at making investments in older, more established companies, but they can certainly point you to angel investors who specialize in your industry. Turn to your coterie of professional service providers–your lawyer, your accountant, your personal banker–for introductions. Consider inviting entrepreneurs you perceive as successful to lunch. Finally, speak with your local university’s industry liaison/tech transfer office, they’ll point you in the right direction to individuals who prefer to work as solo investors, or to angel networks (see above).
- Do Your Due Diligence! Just as an angel will check deeply into you and your company prior to making an investment, entrepreneurs should be equally involved in enquiring into the background of prospective investors. If your company is breaking ground in life sciences, don’t approach a technology-focused angel investment group. If your company is seeking a $200,000 equity injection, don’t pursue investors for whom it is uneconomical to invest in amounts less than $ 1M. Find investors who understand your industry and whose investing thresholds match your needs.
or find out if there’s a speed pitching event (or similar) in your area!
This is an interesting article.
I work for Wall Street Survivor, the leading stock market platforms in the industry and I am always interested to read articles which I could be relevant to our users.
I am looking forward to reading more from you in the future.
All the best!
Alicia
Wall Street Survivor
http://www.wallstreetsurvivor.com