Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 8)

By guest authors Irina Patterson and Candice Arnold Irina: What advice would you give to angel-backed companies to increase their chances of success? Pete: I think the ability to manage cash efficiently while still hitting milestones. We want to know how you are going to use our money to get to your next milestones efficiently.

Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 7)

By guest authors Irina Patterson and Candice Arnold Irina: You get about 150 deals a month and out of those 150, you invest in one deal a month, so what do you do with the other 149? Pete: Some of them stay in the process and we keep in touch with them, or they make

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Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 6)

By guest authors Irina Patterson and Candice Arnold Irina: What level of experience do you require a company’s team to have? Pete: We’ve invested in people who are in school, out of school, senior executives. I think what they’ve got to have is the ability to concisely present the opportunity that they have and make

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Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 5)

By guest authors Irina Patterson and Candice Arnold Irina: What percentage of a company’s equity do you usually seek? Pete: Typically, anywhere from 10% to 30%, depending on the round. Irina: What’s the typical return that you’d like to receive? Pete: We’d like to get seven times to ten times in five to seven years.

Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 4)

By guest authors Irina Patterson and Candice Arnold Irina: Do you hold regular meetings? Pete: Yes, most of our funds meet every other month. And then they usually have screening committees. Some screening committees are monthly; some are a little bit ahead of the member meetings.

Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 3)

By guest authors Irina Patterson and Candice Arnold Irina: Is there any place on the website where entrepreneurs can e-mail you? Pete: On our general website, we’ve got my bio on there with an e-mail. The issue is, though, we have to have a RAIN Fund in the area. So, if someone from Arizona sends

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Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 2)

By guest authors Irina Patterson and Candice Arnold Irina: Would you consider yourselves regional and national at this point? Pete: I would say we’re regional now with the goal of being national. Irina: Since you have such a diverse membership, would you say that you have a specific expertise or a more general approach? Pete:

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Seed Capital From Angel Investors: Peter Birkeland, RAIN Fund Program Manager, RAIN Source Capital (Part 1)

By guest authors Irina Patterson and Candice Arnold This is the tenth interview in our series on financing for entrepreneurs. I am talking to Peter Birkeland, RAIN Fund Program Manager at RAIN Source Capital, a multistate network of RAIN® funds. The network currently has more than $33 million invested in 55 companies. Its head office

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