She only launched the Austrian Angel Investors Association last October and now next month she’s hosting the 2013 EBAN Congress in Vienna — that’s being on a fast-track. She’s an overnight success story.
Meet your hostess, Selma Prodanovic.
Once I had Alan nailed down for this interview I started working on Bill. That wouldn’t be too hard I discovered; Bill and Alan share some history.
Just a year ago Bill stopped by Belfast, Northern Ireland to do a Master Class on angel investing. That sounds like a great title for some angel investing instruction. Who wouldn’t want to be invited to a Master Class?
Alan’s signed up for the 3rd Annual ACA Bike Ride; why not join us?
Just received an email from the Band of Angels’ Mike Bates; he was looking for the link to sign up for the 3rd Annual ACA Bike Ride over the Golden Gate Bridge scheduled for 10am Tues April 16th.
Click here; sign up today.
Who doesn’t fantasize? “If I were young again…”
Me, for one; the thought has seldom, if ever, come to mind.
But it’s on my mind lately.
What’s got into me, some midlife crisis? No, I’m too old for that.
I’ve just come home from 2 days in Seattle at the NW Regional Angel Conference. I was stimulated to my limits, as is often the case. But I was surprised at a few of the topics presented, like Mike Crill’s, “The Decade for Angel Investing,” where he posits on this being the best time to be committing your personal assets to the sector known as angel investing.
He made a lot of good points.
Then I returned and spent an hour with Tech Coast Angels’s Dave Berkus and Common Angels’ Maia Heymann. They’re both working on funds; Maia’s making an even bigger commitment to future funds while Dave has just announced the ACE II Fund. Between the two of them it’s beginning to dawn on me: I should’ve been in funds all along. It’s the only way to go I’m thinking tonight. And this is where the little sting of regret, the ‘If I were to do it all over again,’ is coming from.
For lots of reasons, but especially for diversification. It’s hard to build a diverse early-stage portfolio, especially by trying to cherry-pick deals as they work their way through the process. Maybe I’ll catch their initial presentation, but then be in San Francisco, or Vienna at an angel conference and miss some critical follow-up discussion. With the fund approach, if the deal passes muster with those closest to it, I’m in it, too. Yes, my position is small, but it’s getting too expensive to be placing much larger bets on the few deals I do pay attention to; the fund keeps me engaged.
Plus the funds are good for the angel groups. Dave and Maia didn’t tip-toe around it, angel groups are not known for being quick to write checks. And the best deals with the brightest entrepreneurs know this and today there are too many alternatives to the classic approach angel groups have delivered for so long. Accelerators and incubators are prepping these startups and as cream rises to the top, the better deals get seeded, quickly. These entrepreneurs aren’t knocking on our door, and we potentially miss out.
So these funds are good for the entrepreneurs and good for the angel groups, but are they good for the individual angels? Only time will tell, but I’m already getting an inkling; my portfolio has had very few positive exits, but I’m encouraged to see quick exits already from one fund. It’s renewing my interest and at the same time, it’s making me wish, if I were a new angel investor I’d be placing my bets in these angel group funds.
Ever funded a deal in 7 days?
That’s exceptionally quick, but when things move that fast where does Due Diligence fit in?
Ever felt a little paranoid? Worried that you’re not seeing the best deals in your area?
My guest today, Common Angels‘ Maia Heymann, says that’s normal, even a healthy reaction for early-stage investors.
Word hit this week that the Common Angels were committing to a new fund, and more.
I knew you’d want to hear it straight from the source, plus I knew Dave Berkus could compare and contrast his efforts with Tech Coast Angels‘ new ACE II fund.
How did it turn out?
As always, you’ll be the judge, but today besides being in the Common Angels Fund III, as of this morning I’m in Dave’s ACE II fund, too.
Grab your wallet and sit for a listen.