Angel investors can expect favorable payoffs with only 10 deals, but it takes at least 20 investments to truly be safe.
A prolific angel investor who deserves the attention– here’s a blog post by Connie Loizos on pehub.Â Here’s a block on what the firm is looking for these days:
The criteria is loose, thoughÂ aÂ priority for Conway right now is the so-called live Internet â€” a wider trend in how users more immediately interact and share content these days â€” and mobile applications. In fact, concepts that combine both in particular â€œmove to the top of the list,â€ says Lee.
TheÂ closer a startup is to an inflection point, the better, too. â€œWe try to get involved when they need help with a key business development deal or a subsequent financing or with key hires,â€ according to Lee, who adds that occasionally, the group â€” operating under moniker SV Angel â€” will also back entrepreneursÂ at the concept stage. HeÂ says that it happens â€œrarely. It very much depends on the entrepreneur and the idea.â€
The rest of the teamâ€™s time is spent cultivating stronger partnerships with Google, Yahoo, and Microsoft on behalf of its startups,Â or meeting, often at Conwayâ€™sÂ lavish San Francisco home,Â with the new entrepreneurs that are regularly funneled their way.
â€œWe try to spend as much time with prospective opportunities because, at the risk of sounding corny, thatâ€™s the most fun part of this business,â€ says Lee. â€œEven if they are opportunities we donâ€™t pursue, [meeting with them] feeds the ecosystem, and we do think itâ€™s a pay-it-forward business.â€