By guest authors Irina Patterson and Candice Arnold Irina: Can you tell us a little more about your VentureLab? Michael: That’s a separate organization. That’s an organization where we’re directly hired by companies to do a variety of services. It’s like any investment bank or professional services company. We’re working with a company and taking
By guest authors Irina Patterson and Candice Arnold Irina: Do you think about the return you would like to have over a certain period? Anu: We’re different from a VC firm in that we don’t have IRR [internal return on investment], and we don’t have LPs [limited partners]. It’s our own money.
By guest authors Irina Patterson and Candice Arnold Michael: One of the key things that we try to do beyond the dollars, what is more important than any dollars that the investors could bring, is helping the company and being on the board of advisors or board of directors, or we find additional ways to
By guest authors Irina Patterson and Candice Arnold Irina: How do the angels gain access to the deals that are received? Anu: Everything is done through Angelsoft. I think we were one of the first users of Angelsoft. Most angel groups use it. Irina: What do you like about Angelsoft? Is there any fees? Anu:
By guest authors Irina Patterson and Candice Arnold Anu: Around 2006–2007, I ended up starting another company called 411Sync, which was doing mobile search. It did OK, but it didn’t go anywhere. And then I spent a year and a half trying different things. Now I’ve been on my new company since May 2008. It’s
By guest authors Irina Patterson and Candice Arnold Irina: In the past 12 months, how many investments have you made? Michael: In 2009, we made seven investments. So far, in 2010, we’ve made three. Two of those three were in companies that were in our portfolio. They came back sort of as an extension of
By guest authors Irina Patterson and Candice Arnold Irina: You get about 300 a year. How many deserve a closer look? Michael: It all depends. What we have is a multi-step screening process. We have five screening meetings a year and five investment meetings a year. We basically stagger it. One month we’ll have a
By guest authors Irina Patterson and Candice Arnold This is the fortieth interview in our series on financing for entrepreneurs. I am talking to Anurag (Anu) Nigam, president of Sand Hill Angels, which is an angel investing group in Silicon Valley with more than 60 members. Anu is also the founder and CEO of BuzzBox,