By guest authors Irina Patterson and Candice Arnold
Irina: Do you think entrepreneurs should take the lead and ask for help?
Kiki: I’ll tell you one thing entrepreneurs should really do. Once they have investors who’re investing in their company, they should give them regularly scheduled updates no matter what.
Unfortunately, a lot of times, they don’t do that. They don’t see a real need to keep us updated, but we can be a huge asset. Especially when you’re looking to raise future funds, you have a much better chance if you’ve kept your current investors updated.
A lot of times, the entrepreneurs will keep us in the dark, and then come back with a request for funding. We haven’t been apprised on the company’s progress, its struggles, its wins, so we’re not that connected [with them] to help with more funding.
Irina: Energy companies are capital-intensive companies, right?
Kiki: They can be, yes. And this is where a lot of the government grants could help.
Irina: What are your personal daily challenges?
Kiki: My challenge as an angel investor is that I don’t have much leverage after I invest in a company, as opposed to a venture capitalist who has other, subsequent rounds that can be invested, who has much more control on a board seat. I would like to have more say as things develop, going forward, after my investment. So, I’m working on figuring that piece out, what’s fair for the company and what gives me more of a comfort level.
Irina: Thank you, Kiki. Great insights.