How do I find and approach angel investors?

Sonja Hoel Perkins / May, 2018

Description

Sonja Hoel Perkins, Founder of Broadway Angels explains where and how you can find your first angel investors, how to get noticed by Broadway Angels, and why AngelList is a great platform to use.

Video transcript:

How do I find and approach angel investors?

There are many ways to find an angel investor. The best way to find an angel investor or angel investors is through your own personal network. Your professors at school, your family members, your friends. There are about 300,000 angels in the US right now and a potential for 4 million angels. The way an angel is defined is somebody who makes over $200,000 a year and has one million dollars or more in assets.

Angel investors are everywhere. They are your friends, your family, your professors. They’re everywhere and then of course on the Internet you can find a lot of information about angel networks like Plum Alley, Golden Seeds, Broadway Angels, and Band of Angels. It is probably easier than ever to find angel groups right now.

Typically, in angel investing, people are investing in people. Because if someone just has an idea, but it’s not executed yet or implemented yet and so the personal connection is really important.

The way that we work at Broadway Angels is that you have to be referred to somebody or know somebody at Broadway Angels and that person refers us or refers the deal to us. We use the credibility and connection that one of our Broadway angels has with the entrepreneur as a validation.

It is really hard to come in cold to an angel group, but at the same time, there are so many possibilities of angels around and so if someone is involved in technology, which is what I invest in, there are just a lot of people in tech. People that you used to work with or people that you went to school with that has connections, and so I think in the tech world with angels it’s probably easy to find somebody.

I’ve made investments through AngelList and typically what happens is that an entrepreneur or a Broadway Angel will say that ‘Hey, there is this investment I’m working on and you can invest on it through AngelList.’ I think AngelList is a great resource to find and fund companies. If you can get your company into AngelList, a lot of people will have potential to see it.

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