How can a startup business with a good idea look polished enough to get funded?
We provide a ton of information about what their presentation needs to include when we select them as someone we want to pursue in the due diligence phase. They need to do projections, have financial statements in order, and know what they need the money for. A lot of entrepreneurs who have good ideas haven’t thought that through. Because I came out of a development background, if a company isn’t ready, we have the resources to refer them to someone who can help. Q: Is there a benchmark for how much money a fund must raise, or maintain, to be successful? A: There’s not a benchmark. It depends on what your market is and what you have defined as your universe of investments. In our case we typically want to invest $100,000 in a company that has an initial valuation of $2 million. If it’s over that, it doesn’t buy us enough equity to be successful for us. That is our benchmark. Q: What must a startup company have in order to attract the interest of angel investors? A: Most important is th
