Lets Get Real About
Angel Investing
Seth Levine
Join the Conversation
#2016ACS
@sether
@sether
US Angel Funding Trends
@sether
*Estimated
*
@sether
Colorado Seed Funding Trends
@sether
@sether
@sether
Denver vs. Boulder
@sether
602 Total CO deals since 2000
173 Seed X Angel
Average Size of Angel + Seed + Deals: $748,145
What stage(s): Angel + seed + convertible
Historical Investing in CO
@sether
Seed Stage in CO
~
@sether
FG Angels
@sether
FG Angels
# of Deals per Month
Source: FG Angel Data
@sether
FG Angels Review
★ Number of investments: 66
★ Average syndicate investment: $289K
★ Largest syndicate investment: $785k
★ Total number of syndicate investors: 582
★ Total number syndicate investments: 3,744
Source: FG Angel Data
@sether
FG Angels Review
★ Average # of deals participated in: 16
★ Most common # of deals participated in: 59
★ # of investors who have participated in at least
half of FG Angels deals: 25
★ Most active syndicate member investment total:
$1,097,112 in 63 deals
Source: FG Angel Data
@sether
FG Angels Review
★ Total $’s raised through FG Angels: $16.49M
★ Avg debt cap: $4.96M
★ Avg valuation $4.7M
★ % of investments with a female co-founder: ~25%
Source: FG Angel Data
@sether
FG Angels Goals:
✓ Understand AngelList and Syndicates
✓ Experiment with seed investments outside of
FG themes
✓ Extend our network
✓ Generate economic returns
@sether
✓ Reinforced that Angel investing is a lot about gut (more
than analysis)
✓ Ability to move quickly was critical
✓ Most Angels are unorganized and followers
✓ Many deals fail -> diversification is important
✓ Typical angels approach the market completely wrong
FG Angels
Outcome | Observations
@sether
History of Angel Investing in
Colorado
@sether
As an ecosystem we can do better
@sether
Too scattered
Too much process
Too many gate keepers
We’re not putting entrepreneurs first
@sether
More transparency
Be visible
Be authentic
Angel’s mentoring Angel’s
@sether
Don’t over-educate
$10K is not a lot of money
Dedicate capital
@sether
Diversify
Have Fun
@sether
You are not the market
@sether
We are especially bad at supporting
women and diversity
in Technology and Entrepreneurship
@sether
@sether
This deck is on SlideShare and can
be viewed at:
bit.ly/sethangelco
Questions?
seth@sethlevine.com
@sether
• This information has been prepared solely for informational purposes and is not
an offer to buy or sell or a solicitation of an offer to buy or sell any security or
instrument or to participate in any trading strategy.
• This material is not to be reproduced in whole or in part or used for any
purpose and is to be treated as strictly confidential and is not to be disclosed
directly or indirectly to any party other than the recipient.
• This document may contain forward-looking statements and projections that
are based on our current beliefs and assumptions and on information currently
available that we believe to be reasonable. However, such statements
necessarily involve risks, uncertainties and assumptions, and prospective
investors may not put undue reliance on any of these statements. Past
performance is not a reliable indicator of future results.
• All of the information herein is subject to change without notice. Certain
information included in this document is based on information obtained from
sources considered to be reliable. However, no representation or warranty is
made with respect to the accuracy or completeness of such data.
Disclaimer

Lets Get Real About Angel Investing - RVC Angel Capital Summit Keynote by Seth Levine

  • 1.
    Lets Get RealAbout Angel Investing Seth Levine
  • 2.
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  • 9.
    @sether 602 Total COdeals since 2000 173 Seed X Angel Average Size of Angel + Seed + Deals: $748,145 What stage(s): Angel + seed + convertible Historical Investing in CO
  • 10.
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    @sether FG Angels # ofDeals per Month Source: FG Angel Data
  • 13.
    @sether FG Angels Review ★Number of investments: 66 ★ Average syndicate investment: $289K ★ Largest syndicate investment: $785k ★ Total number of syndicate investors: 582 ★ Total number syndicate investments: 3,744 Source: FG Angel Data
  • 14.
    @sether FG Angels Review ★Average # of deals participated in: 16 ★ Most common # of deals participated in: 59 ★ # of investors who have participated in at least half of FG Angels deals: 25 ★ Most active syndicate member investment total: $1,097,112 in 63 deals Source: FG Angel Data
  • 15.
    @sether FG Angels Review ★Total $’s raised through FG Angels: $16.49M ★ Avg debt cap: $4.96M ★ Avg valuation $4.7M ★ % of investments with a female co-founder: ~25% Source: FG Angel Data
  • 16.
    @sether FG Angels Goals: ✓Understand AngelList and Syndicates ✓ Experiment with seed investments outside of FG themes ✓ Extend our network ✓ Generate economic returns
  • 17.
    @sether ✓ Reinforced thatAngel investing is a lot about gut (more than analysis) ✓ Ability to move quickly was critical ✓ Most Angels are unorganized and followers ✓ Many deals fail -> diversification is important ✓ Typical angels approach the market completely wrong FG Angels Outcome | Observations
  • 18.
    @sether History of AngelInvesting in Colorado
  • 19.
    @sether As an ecosystemwe can do better
  • 20.
    @sether Too scattered Too muchprocess Too many gate keepers We’re not putting entrepreneurs first
  • 21.
    @sether More transparency Be visible Beauthentic Angel’s mentoring Angel’s
  • 22.
    @sether Don’t over-educate $10K isnot a lot of money Dedicate capital
  • 23.
  • 24.
  • 25.
    @sether We are especiallybad at supporting women and diversity in Technology and Entrepreneurship
  • 26.
  • 27.
    @sether This deck ison SlideShare and can be viewed at: bit.ly/sethangelco
  • 28.
  • 29.
    • This informationhas been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. • This material is not to be reproduced in whole or in part or used for any purpose and is to be treated as strictly confidential and is not to be disclosed directly or indirectly to any party other than the recipient. • This document may contain forward-looking statements and projections that are based on our current beliefs and assumptions and on information currently available that we believe to be reasonable. However, such statements necessarily involve risks, uncertainties and assumptions, and prospective investors may not put undue reliance on any of these statements. Past performance is not a reliable indicator of future results. • All of the information herein is subject to change without notice. Certain information included in this document is based on information obtained from sources considered to be reliable. However, no representation or warranty is made with respect to the accuracy or completeness of such data. Disclaimer