Thursday, August 12, 2010

Super Angel lesson by Mike Maples on supercoolschool

Mike Maples
super angel, floodgate fund partner

How he invests:
invests earlier, faster, smaller amounts
500k is the new 5mio funding
looking for meaningful investments
his first investments twitter and digg
looking for psycho entrepreneurs (more risky, crazy about his vision)
90% of his investments are going into silicon valley companies
he has a very local strategy
personal recommendation is key to get his attention
angel investing is satisfying and you get rewarded by the ideas of all the entrepreneurs you work with.

How he started as an  angel investor:
met 100 most interesting guys from silicon valley
not deal flow its people flow
meet people not business plans

What are good angels?
true appreciation about entrepreneur
discovering a business before scaling
provide acceleration not taking operational decisions
be ready to accept that the entrepreneur can make it happen and not yourself
lean startup means agile not cheap startups: be able to change everything, every day

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