By guest author Irina Patterson Liz: You know, one of the things that happens in a bad economy is if a company is doing fairly well, sometimes the entrepreneurs don’t want to exit. Because they’re comfortable. They get their salary, they’re making money, the company’s doing OK . . . so it’s a little harder
By guest author Irina Patterson Irina: Do you have any sector preference? Liz: No, we just want to invest in companies that we can exit and make money in. We just don’t have the luxury. Now, I will tell you, we don’t invest in things we know absolutely nothing about. We don’t invest in real
By guest author Irina Patterson Irina: On average, from all the sources, how many pitches do you receive a month? Liz: I’ve been keeping a running tab this year just out of my own interest, and I’m talking to about 20 entrepreneurs a month. But when our fund meets, we usually have wind it down
By guest author Irina Patterson Irina: So, not all of your fund investors are based in Montana? Liz: No, five are not. Some are here part of the year, and they really wanted to be part of this, and that was part of the discussion when we formed the fund. For example, of the 33
By guest author Irina Patterson Irina: Right. Do you see any issues in the angel ecosystem? Is there anything that can be improved? Ray: I think the key thing is, investors like us have to get involved, to educate entrepreneurs. For example, Silicon Valley is the best ecosystem in the whole wide world. And for
By guest author Irina Patterson This is the twenty-eighth interview in our series on financing for entrepreneurs. I am talking to Elizabeth Marchi, fund coordinator at Frontier Angel Fund LLC. It’s a member managed pooled fund – that is, they review deals together and then vote to invest their pooled capital. Their investments range from
By guest author Irina Patterson Irina: What do you think is the most important thing that angel-backed founders can do to increase their chances of success? Ray: The execution. It means you have to work with partners — work with partners like us, work with the team, and execute the plan. They also be able
By guest author Irina Patterson Irina: What do you do when you get incomplete business teams? Ray: We go in there and help. I especially love to work together with the entrepreneurs. We do what they don’t want to do or what they don’t know that they need to do.