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THE ANGEL EDGE

PB&J T-JAJAdapted from the Journal of the Heartland Angels

Part 1 – by John Jonelis

Is an Angel a fool?

In the world of private equity investing, the order of funding is supposed to go like this:

  • Seed Round—that’s friends, family, and fools.
  • Angel Round—that’s funding the big initial spurt of growth.
  • Venture Round—that’s big funding for massive scaling.

Compare that stack-of-three (above) to a peanut butter and jelly sandwich.  Notice that Angels make up the good stuff in the middle.  And yes—according to studies by the Kauffman Foundation—Angels make the best money. Continue reading

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