By guest authors Irina Patterson and Candice Arnold Irina: How many investments have you made? Dave: It’s a little hard to keep track at times, those deals are things that I’ve been working on since the beginning of the year, probably 43, maybe 44 in calendar year 2010. Although the fund’s only been operating for
By guest authors Irina Patterson and Candice Arnold Dave: I was fortunate to have folks like Reid Hoffman and other folks as mentors or guides. They gave me a few tips. I ended up doing some consulting for and also becoming an investor in Mint. That was one of the more notable investments that I’ve
By guest authors Irina Patterson and Candice Arnold Irina: Do any of the companies you mentioned have any interesting stories? Ira: The one that we’re hoping is going to be the most successful is a company called Avid, which hasn’t gone liquid, yet, so there’s not a lot of information out about it. What’s interesting
By guest authors Irina Patterson and Candice Arnold This is the thirtieth interview in our series on financing for entrepreneurs. I am talking to Dave McClure, an angel investor and the founder of 500 Startups, which is a seed fund and startup accelerator based in Mountain View, California. Irina: Hi Dave, Let’s start briefly with
By guest authors Irina Patterson and Candice Arnold Irina: What are your other notable investments? Ira: I recently invested in a company called SURGiVIEW, which has an inexpensive way for surgeons to archive the videos of their surgeries and also to remotely broadcast the surgeries to other parts of the world. I invested in a
By guest authors Irina Patterson and Candice Arnold Irina: What do you do with the companies you don’t invest in? Ira: We try to refer them to somebody else who may have an interest for one reason or another. Sometimes a company’s too late stage for us and we’ll refer it. Often times we’ll put
By guest authors Irina Patterson and Candice Arnold Irina: How much do you usually invest in a company? Ira: I typically invest $25,000. Sometimes it’s as low as $10,000. A few times it’s been $50,000 to $100,000, but it’s usually $25,000. Our group tends to invest somewhere between $300,000 and $750,000, as a group. Irina:
By guest authors Irina Patterson and Candice Arnold Irina: If entrepreneurs go through your website, there’s still a fee, right? Ira: Yes. People are not so happy about angel groups that charge fees, but we do charge $45 for people to submit. It’s primarily because we were getting so many random submissions without it. One