1.
@JoshuaBaer
@ATXStartupScene
ATXStartupScene.com

2.
How to meet
Angel Investors
by @JoshuaBaer

3.
Find this Online
http://ATXStartupScene.com
http://slideshare.net/joshuabaer
http://youtube.com/austintechlive

4.
Do your homework online
• Paul Graham on Fundraising
paulgraham.com/fr.html
• VentureHacks
venturehacks.com/archives
• VC Economics from Wealthfront
blog.wealthfront.com/venture-capital-economics/
• Sam Altman’s Startup Class interview with
Marc Andreessen, Ron Conway, & Parker Conrad
clip.mn/video/yt-uFX95HahaUs
• Sam Altman’s Startup Playbook
playbook.samaltman.com

5.
Books to read

6.
What’s different about Fundraising in
Austin?

7.
bootstrap
first

8.
revenue
focused

9.
experienced
teams

10.
How to meet angel investors
1. Leverage your personal network
2. Go where the investors are - bars, coffee shops, events, Capital Factory
3. Follow them on Twitter twitter.com/joshuabaer/lists/austin-angels
4. Create an AngelList profile (and email it to me)
5. Post to Austin Angel Investors Facebook group
6. Office Hours with CTAN
7. Epic Office Hours at Capital Factory
8. Apply for an Accelerator
9. Participate in pitch events and competitions

11.
Step by Step
1. Do your homework online
2. Create a 1-2 page PDF overview of your team, product and progress
3. Find a friendly angel investor or entrepreneur to give feedback
4. Create a real pitch deck and get lots of feedback
5. Get your first few angel investors on a convertible note
6. Apply to an Accelerator
7. Raise $500k to $1.5m on the convertible note from angels, angel groups, and VCs
8. Raise $3-6m Series A from a VC

12.
• One of the most active angel groups in the country
• Not just tech
• 5x/year application cycle
• Monthly office hours
• Rick Timmins is the Chairman (and CF Mentor)
• Claire England is the Executive Director

13.
Find investors, intros & advice at
Office Hours

14.
Office Hours
• Think of this as speed dating
• Don’t expect them to commit on the first date
• Research their background beforehand
• Professional on LinkedIn
• Investments on AngelList
• Personality on Twitter and Facebook
• Ask for a followup meeting to show progress

15.
Program Funding Equity Focus
Athena Health MDP $50,000* 3%* Health
Capital Factory $100,000 3%* Tech
International
Accelerator
$50,000 15% International
SKU $8,000 4% or 8% CPG
Techstars $120,000 9% Tech
UnLtd, USA $5,000 0% Social Good
Austin Accelerators
* actual amount varies from company to company

16.
Valuation
• Average is $3m (it’s double in Silicon Valley)
• On a note, think of the cap as the valuation
• Higher because of traction or track record - up to $8m
• Higher because it is capital intensive
• If you have to justify it, then it’s too high
• Bigger is not always better

17.
Time
• Usually takes 6-12 months
• Really fast is 2-3 months
• If only 2-3 investors can happen in 1 month
• Sometimes drags out over 18 months
• Entrepreneurs usually think it’s going to happen faster

18.
Get used to hearing
NO

19.
Say you’re going to do something.
Then do it.

20.
Ask Us Anything