By guest authors Irina Patterson and Candice Arnold Irina: When you invest in e-commerce companies, do they have to be located in your geographical area? Dick: That’s interesting. The one that exited here was a virtual company. One of the founders was here, one was in Boulder, Colorado, and one was up in New York
By guest authors Irina Patterson and Candice Arnold Irina: You were telling me about two companies in your portfolio that failed, and you lost about $1 million combined on both of them. What were the reasons for their failure? Dick: Both failed for the same reason. They failed for factors that were outside of their
By guest authors Irina Patterson and Candice Arnold Irina: What do you do for companies that you decide not to invest in? Dick: We make contacts for them. That’s probably the biggest thing we can do for them – help them understand what they need to do to make them more eligible [for funding] or
By guest authors Irina Patterson and Candice Arnold Irina: At what stage of a business’s development do you prefer to invest? Dick: Really, anywhere from what I would call pre-seed to developmental. We’ve even invested in one expansion-stage company. Irina: How about if somebody comes with an idea on paper? Dick: No. But we have
By guest authors Irina Patterson and Candice Arnold Irina: How many pitches do you receive per month, on average? Dick: In a month, I’ll hear from 12–15 capital seekers. Irina: Out of those 12–15, how many deserve a closer look? Dick: One or two. Irina: What would be your next step of engagement with them?
By guest authors Irina Patterson and Candice Arnold. This is the twenty-seventh interview in our series on financing for entrepreneurs. I am talking to Dick Reeves, executive director of Huntsville Angel Network that services entrepreneurs in and around Huntsville, Alabama, where it’s based. Irina: Hi, Dick. Why don’t we start with you telling me a