When Should I Apply For Angel Funding?

  1. A working product,
  2. Some revenue and market validation,
  3. Your co-founders are in place (e.g., “I’m looking for a co-founder with [insert skill]” is a red flag.)
  1. You have a credible lead investor,
  2. You have at least $100–200k and 20% of your round committed,
  3. You have deal terms largely agreed by the lead and committed investors.
  1. Focus first on angel groups and micro-VCs who could lead your round.
  2. If you do pitch before having a lead investor committed, be prepared for other investors to wait until you find a lead.
  3. Put forward your ask for funding amount and terms, and indicate that you are negotiable once you identify a lead. [If you say that terms are “TBD and up to the lead” you risk coming across as clueless].
  4. Don’t be so greedy that you spend too much time with a funding ask that is above the market, and you run out of money and never raise a dime.
  5. Never insist on a SAFE note with a serious angel. They know that is so unfavorable to angels that it can easily be a worthless investment in an otherwise successful company.

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New York Angels

New York Angels

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New York Angels is a member led organization committed to finding, funding and mentoring promising young companies.