2014 Pasadena Angels Performance • 4 Exits, including Bluebeam for $100mm • $4.7mm in new funding for portfolio companies • 17 Deals closed, 10 new and 7 follow-on rounds • 20 New Angels joined I have never seen such energy at the Pasadena Angels in my decade+ as a member. Deals are getting done, and the PA are more involved in the tech community than ever before. Angels have been attending many outside events, both […]
A fun, if manic, interview with Alon Goren
The Pasadena Angels have redesigned our site with a new focus on Entrepreneurs and LA Basin tech resources. We took a lesson from successful companies we have funded–we talked to the market first. We started by surveying a group of local entrepreneurs and our own members to find out what they wanted in a site. The message that came back was very clear–both groups wanted a site that showed that: 1) the PA are actively […]
Overwrought headline? Hardly. New SEC regs will destroy your ability to raise capital. In a nutshell, new SEC rules will REQUIRE entrepreneurs to register with the SEC BEFORE approaching investors. Worse yet, Angels will no longer be able to “self certify” as accredited investors–we will have to show W2’s or proof of our net worth, and most of us will never be willing to share such personal information. And did I mention that pitch […]
One of my favorite Dave Berkus quotes is: “Never, never, never run out of money.” But inevitably, it happens to some startups. What then? Your VCs and lenders will likely impose onerous terms, and your ownership will get badly diluted. The one group of investors you can count on to support you in a crisis are your Angels, and I saw two examples over the Holidays. Two companies, with funding from the Pasadena Angels […]
Every startup has an elevator pitch, but what comes next? Do potential investors’ eyes glaze over when you get beyond the quick, punchy one liner and try to REALLY describe your company? Successful fundraisers tell a complete, engaging story and close the deal. Last week, the WSJ ran a great article on the value of college humanities courses, and used comments from a successful entrepreneur to make their case. I have to confess that I almost […]
A billion dollar established market. Incumbent companies so despised by consumers that they are routinely sued over the poor quality of their offerings. A dynamic founder who has proven he can run lean and get the job done. A young VC liked the idea and took it to his partner meeting. What could go wrong? A turndown. “They just didn’t get it.” Meet Erick Arndt and VacationJuice.com. A great entrepreneur and company who were just […]
At a recent accelerator event on the West Side, a friendly young founder told me that he had been coached by his mentor not to talk to Angel groups. As a Pasadena Angel, I wanted to be shocked, but I wasn’t. The Angel funding process can be arduous. But as a community, we have to figure out how Angels can effectively participate in the development of accelerator-based companies. With the VC ranks shrinking, founders need […]
If you’re interested in crowdfunding, you need to read this PandoPost: Rally Funding. Ok, so they cheated a little. They already had major VCs in the deal. It’s still a huge step for crowdfunding. The money is in…now the real fun begins. Track this one.
The stories are everywhere…VCs and Angel groups are passe’–the cool kids are raising money from “Super Angels”. Just go talk to a friendly millionaire, and he/she will simply write a check to finance your “A” round. Need a few million? No problem. Oh, and it happens quickly, too. Now where did I leave his phone number….. Well, maybe. As usual, the truth is a little murkier. A Board member from one startup told me recently […]
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