How Do You Find An Angel Investor?
Is there a small business that hasn’t needed more capital at some stage of development? And is there a small business owner who hasn’t thought of an angel investor as an ideal source of the capital he or she needs? But finding an angel investor isn’t like finding a clam on the beach; the search is more similar to finding the pearl. Here are some tips for finding an angel investor. 1. Know who you’re looking for. Your chances of connecting with the angel investor you need will be much better if you keep this profile of the “typical” angel investor in mind. According to Ralph Kroman of WeirFoulds LLP, the typical angel investor: • has an income that exceeds $100,000 • is 40 to 60 years old • has a net worth in excess of $1,000,000 • has previous successful entrepreneurial experience • expects to hold on the investment for up to five to seven years (although some angels wish to “cash out” after only a few years) • enjoys advising the entrepreneur and likes to be part of the action • inves
