Whats the difference between angel investors and venture capitalists?
We invest our own money; they invest institutional money. They invest in expansion and later; we invest in seed and early-stage so we get higher returns on investment because we’re earlier in. We come in after friends and family and after incubator funding, and pre-venture capital. Q: What does your network look for when you review business plans? A: Most importantly, the entrepreneur has to be coachable because everybody doesn’t know what they know. Many of them are great technologists but they never ran a business before. If they’re not coachable, we walk away. Also, a well-balanced management team. Or if it’s too early for a well-balanced management team, we want a well-balanced group of advisers or board members. There’s that old adage in real estate: location, location, location. For this we want management, management, management. We like high gross margins and a large market niche. And we want the product or service ready for customers with one or two [early stage] customers at
