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About Me
•   Co-Founder of Hyde Park Angels (www.hydeparkangels.com)

•   Blog at pointsandfigures.com

•   Tweet @pointsnfigures

•   On Facebook, Linked In, Pinterest, Instagram, Google+, YouTube, Yelp, Trip
    Advisor, Klout, Angel.co, Built In Chicago and any other social network you
    care to name. Friend me or follow me if you want

•   Trustee at the National World War Two Museum (
    http://www.nationalww2museum.org) in New Orleans, Louisiana

•   married, two kids in college; traded for 22 years at the CME where I was on
    the Board of Directors

•   BS Univ of Illinois, College of Business; MBA University of Chicago, Booth
    Graduate School of Business
What is An Angel
            Organization?
     Different Structures, different expectations
Classic definition is a group of investors that want to
come together to invest in seed stage companies for
                      fun and profit

                                Union League Angels?
Imagine if 20 people wanted to invest $200,000 in companies over five years. That’s $4 million dollars. It’s
                           enough to be a respectable angel group in Chicago.
Typical Angel Deals
•   Average Valuation is $1-3M pre-money.

•   Most seed rounds are between $300k and $1M depending on the business

•   Seed round should be 12-18 mo runway (company is pre revenue, pre
    product)

•   Board seat or board observation rights

•   Usually, but not always, co-investors in the round

•   Angels looking for return. Average return for all angel deals is around 27%
    IRR (Includes the ones that went bust)

•   Typical deal is 5-7 years in length.
What An Angel Does
•   Invest Money

•   Create Customers, Connections

•   Mentor and Advise

•   Help Find Talent for Firm

•   Create Next Rounds of Financing

•   Create Possible Exits

•   Network, network, network

•   Angels typically don’t run companies, nor do they replace management
What Do Angels Look
      For?
•   Solve a pain point, a problem

•   Big Market (Market Size)

•   Evidence the Jockey can execute

•   Ability to build a rapport with the Entrepreneur

•   Does the entrepreneur have integrity? Be honest-no Enron Accounting!

•   Does the entrepreneur want to build a blow out business, or lifestyle business?

•   Evidence the product works (no ideas, actual products)

•   Evidence there is some demand (some customers)

•   Disruption-product should be a game changer in some way (Andy Kessler “Eat People”)

•   Potential Exit(Who’s going to buy you?)
Don’t Want to Be An
      Angel?
Invest in a fund. I know where to make that happen!
           Put capital to work creating value
What Should
    Entrepreneurs Look
     For In An Angel?
•   Some industry expertise or focus

•   Some connections, a good personal network

•   Trustworthiness. Can you trust this person to be involved in your business?

•   Local. Long Distance Angels generally don’t work out.

•   No check writers. You want more than just money.
Create A Silicon
          Prairie?

• NO!!!!
• Create Something Unique
• Let’s Knit a Midwestern Quilt

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Ulc presentation powerpoint

  • 1. About Me • Co-Founder of Hyde Park Angels (www.hydeparkangels.com) • Blog at pointsandfigures.com • Tweet @pointsnfigures • On Facebook, Linked In, Pinterest, Instagram, Google+, YouTube, Yelp, Trip Advisor, Klout, Angel.co, Built In Chicago and any other social network you care to name. Friend me or follow me if you want • Trustee at the National World War Two Museum ( http://www.nationalww2museum.org) in New Orleans, Louisiana • married, two kids in college; traded for 22 years at the CME where I was on the Board of Directors • BS Univ of Illinois, College of Business; MBA University of Chicago, Booth Graduate School of Business
  • 2. What is An Angel Organization? Different Structures, different expectations Classic definition is a group of investors that want to come together to invest in seed stage companies for fun and profit Union League Angels? Imagine if 20 people wanted to invest $200,000 in companies over five years. That’s $4 million dollars. It’s enough to be a respectable angel group in Chicago.
  • 3. Typical Angel Deals • Average Valuation is $1-3M pre-money. • Most seed rounds are between $300k and $1M depending on the business • Seed round should be 12-18 mo runway (company is pre revenue, pre product) • Board seat or board observation rights • Usually, but not always, co-investors in the round • Angels looking for return. Average return for all angel deals is around 27% IRR (Includes the ones that went bust) • Typical deal is 5-7 years in length.
  • 4. What An Angel Does • Invest Money • Create Customers, Connections • Mentor and Advise • Help Find Talent for Firm • Create Next Rounds of Financing • Create Possible Exits • Network, network, network • Angels typically don’t run companies, nor do they replace management
  • 5. What Do Angels Look For? • Solve a pain point, a problem • Big Market (Market Size) • Evidence the Jockey can execute • Ability to build a rapport with the Entrepreneur • Does the entrepreneur have integrity? Be honest-no Enron Accounting! • Does the entrepreneur want to build a blow out business, or lifestyle business? • Evidence the product works (no ideas, actual products) • Evidence there is some demand (some customers) • Disruption-product should be a game changer in some way (Andy Kessler “Eat People”) • Potential Exit(Who’s going to buy you?)
  • 6. Don’t Want to Be An Angel? Invest in a fund. I know where to make that happen! Put capital to work creating value
  • 7. What Should Entrepreneurs Look For In An Angel? • Some industry expertise or focus • Some connections, a good personal network • Trustworthiness. Can you trust this person to be involved in your business? • Local. Long Distance Angels generally don’t work out. • No check writers. You want more than just money.
  • 8. Create A Silicon Prairie? • NO!!!! • Create Something Unique • Let’s Knit a Midwestern Quilt