5 Tips on raising Angel Money

Posted by Rob Lewis

At last month's VEF event BC's 2011 Angel Investor of the Year Boris Wertz moderated a Angel Investing panel that included Initio Group's Mike Edwards and Eastside Games' Jason Bailey as well as Scenario Creation's Paul Antoniadis, and Seattle superangel Geoff Entress.

We've summed up Bailey's thoughts on angel investing and the story of Edwards climb to Superangel in less than 12 months but for those of you that couldn't attend the event I thought it would be worthwhile to get back to the basics.

During his panel introduction moderator Wertz shared his advice on how to raise angel money. While Wertz's climb to angel prominence in the Pacific Northwest hasn't been as accelerated as Edwards, Wertz's W Media Ventures has a four-year track record of investing in consumer Internet, SaaS and mobile entrepreneurs.

Here are Wertz's 5 tips on raising angel money.

 

  • Build product and get initial traction - NO ONE will fund a business plan.
  • Have a strong (technical) founder team - NO ONE will fund "suits only".
  • Build relationships and hence social proof (e.g. advisors) - NO ONE will fund immediately.
  • Consider joining an incubator.
  • Use AngelList.

On the last point, Unbounce CEO Rick Perreault did a masterful job of leveraging AngelList to streamline the fundraising process and should probably write his own version of Joshua Baer's 9 Tips for Raising Startup Funds on AngelList.

Company:
VEF - Vancouver Enterprise Forum
Website:
http://www.vef.org
Location:
Vancouver, British Columbia, Canada

The Vancouver Enterprise Forum (VEF) mission is to advance technology entrepreneurship through networking forums that educate and motivate. The Vancouver Enterprise Forum (VEF) is the premier networking forum for technology entrepreneurs and holds eight events each year – usually on the fourth Tuesday of the month. These events provide attendees with an opportunity to network and learn. The evening involves a... more

Company:
W Media Ventures
Website:
http://www.wmediaventures.com
Location:
Vancouver, British Columbia, Canada

W Media Ventures is a Vancouver-based venture capital firm focusing on Consumer Internet opportunities in the Pacific Northwest and Western Canada. We are looking for entrepreneurs that want to build remarkable companies in the fields of digital media, e-commerce, social networks or platforms. Having founded and run Internet companies ourselves, we not only understand the space but also the challenges of starting... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more



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