VC Minute – quick advice to help startup founders fundraise better.
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We found our angels through networking like insane people, mostly me.
We’ve put $3 million into the business, and we have 60 different angels on our cap table. It takes a lot of work. Rich’s mouthing “Wow” on mute right now. It takes a lot of work, and you’ve got to be scrappy and really go to the very depths of your network.
Who would you go to high school with? Who would you go to college with? I’m from Dallas, and I tried to get involved in the Angel Network in Dallas, playing that hometown girl kind of thing even though I live in Denver.
Get involved in the angel community within your ecosystem. I live in the Front Range, and so I sure as hell am going to every single event I possibly can in the Denver and Boulder areas. If you have particular ties to various areas like New York or San Francisco, make sure you’re networking in those places as well.
Also, get a PitchBook login if you can. That was a really valuable resource for us. If you have a law firm that you work with, they can often be really helpful in terms of helping you access some of this data. They’re on your side if they want to see you close this round because they get paid. And hopefully, they’re good people as well.
There are multiple different ways to find, different angels. You’ve just got to be bold with your request and know that time is of the essence. Be upfront with your request and be bold about it.
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