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: 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 Irina: Do you serve on the boards of any of the companies you invested in? Christina: No, I don’t. I do serve on some advisory boards, but those aren’t the companies that I have invested in. Irina: What do you think entrepreneurs could do better? Christina: Going
By guest authors Irina Patterson and Candice Arnold Irina: Will your new Independence Equity fund be making seed investments? Michael: It will be the first institution round, so typically it will be series A and series B type investments. Depending on how large the fund gets to be down the road, the size of investments
By guest authors Irina Patterson and Candice Arnold Irina: Could you give us a timeline of your career up to this point? Michael: I graduated from the University of Pennsylvania in 1990. I studied international relations and economics. It was basically an East Asian studies within the international relations. I studied Japanese, and I spoke
By guest authors Irina Patterson and Candice Arnold Irina: What do you look for in the people? I see you’re very young yourself. What kind of experience do you look for in the people? Christina: For two of the companies I’ve invested in, the founders have been very young. I think both of them were
By guest authors Irina Patterson and Candice Arnold This is the thirty-ninth interview in our series on financing for entrepreneurs. I am talking Michael Gruber, founder and managing director of Cornerstone Angels, a Chicago-based group of angels that seeks to provide financial capital and mentorship to early-stage companies in the greater Midwest.