To really succeed at building relationships with angel groups and getting investments from them, you have to understand how they work. If you match an angel group’s investment criteria, the next step is to go through their process. But for a lot of entrepreneurs, that process is opaque. While some angel groups might provide you with a detailed written process, a lot won’t. But, in either case, there are three things you have to do to get an angel investment.
If you’re seeking investment from angel groups, you need to focus your attention to building champions within the group. You’ll also need to set your expectations clearly; investment won’t happen in two days — you need to allow time for angels to review your business and bring together others to invest. But if you make through these steps, you’ve secured a growth-driving investment with partners committed to helping you succeed.
About Hyde Park Angels
Hyde Park Angels is the largest and most active angel group in the Midwest. With a membership of over 100 successful entrepreneurs, executives, and venture capitalists, the organization prides itself on providing critical strategic expertise to entrepreneurs and the entrepreneurial community. By leveraging the members’ deep and broad knowledge of multiple industries and financial capital, Hyde Park Angels has driven multiple exits and invested millions of dollars in over 30 portfolio companies that have created over 680 jobs in the Midwest since 2007.
About the Authors
Michael is the Associate Director of Hyde Park Angels. He leads HPA’s investment opportunities through sourcing deals, conducting due-diligence, and providing oversight of the University of Chicago Booth Associate team. Michael joined Hyde Park Angels after spending three years as a strategy consultant with Booz Allen Hamilton in Washington, D.C. where he worked on a variety of process and customer service improvement efforts. He earned a BA in Political Science from Northwestern University in 2009.
Alida Miranda-Wolff is Associate Manager at Hyde Park Angels. Her role includes creating and executing marketing and communications strategies, planning and managing events, fostering and maintaining community and industry partnerships, and managing membership. Prior to joining Hyde Park Angels, Alida served as a manager, data analyst, and publication specialist at a multibillion dollar industrial supply corporation. She has led one of the most successful Kickstarter campaigns in Chicago history and worked with half a dozen startups in various marketing, content creation, and project management roles. Alida believes in creating valuable, spreadable multimedia content, and has done so as a freelance writer for several print and online publications.
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