Angel Investors, of the True Kind

Nine out of Ten entepreneurs who have had an angel fund them, got that money (and found that angel) not from institutional networks, but from their circles of influence.

There seems to be a trend where the #1 and #2 source of early stage funding is a) Friends and family and b) Your ex Boss.

Many people underestimate the option of (b). In fact I have heard many entrepreneurs tell me that they met their ex bosses to catchup with them and let them know abt what they were upto and they offered and asked for a chance to be part of it. Several of them, when they failed the first time recount meeting with them to brief them of the same, and as long as they had hope, they backed them with more capital.

These folks believe in You — and you could start a tech startup or a pig farm and their trust in you would be the same. That makes them “angels” of the true kind.