Scott Burkett and Michael Blake are on a roll. I recently mentioned their next Capital Connections event - previous events have been highly attended. They just announced a new gathering for angel investors - Angel Lounge.
Most angels form syndicates when they invest in companies. Usually this is because they can’t or don’t want to singly fund a company. The idea is to diversify among multiple investments and not have a concentrated holding as well as share the risk with others who may be more helpful or knowledgeable about a company. This makes a lot of sense since having more people thinking about a company’s well being is usually a good thing.
The downside is that entrepreneurs often have to do the legwork of finding angels to fill out their fund raising round. But if angels could self organize into networks, formal or informal, then the entrepreneur will save time and be able to quickly focus back on creating value through their company.
Good job guys! I’m looking forward to seeing some positive results from this.
Hey Sanjay - I hope you are doing well!
I’ve been meaning to come and drop a comment here on your new blog for a few weeks, but things have been pretty hectic over here at PlayMotion.
Thanks for the kind words and support re: StartupLounge. We are in the process of finalizing our non-profit status, and we have some pretty aggressive initiatives for 2008 and beyond.
As much as I’d like to take credit for the concept of Angel Lounge, the whole concept pretty much originated from Charlie Paparelli. His involvement with our efforts has really helped us broaden our vision. We need more angel involvement in the scene here in the Southeast, and Charlie is really stepping up to help bring those folks together with our cause.
See you soon!
Cheers.
Scott
Scott - thanks for dropping by.
FYI for readers, Charlie’s website is at http://www.paparelli.com and his blog is at charliepaparelli.com.