Make no mistake about it: There is an art to raising angel capital. Raising angel capital is not harder or easier than raising institutional venture capital-it's simply different. Here's how to do it.
- Make sure they are "accredited" investors. "Accredited" is legalese for "rich enough to never get back a penny." Just read what the SEC says. You can get into a boat load of trouble for selling stock to the proverbial "little old lady in Florida," so don't do it. And get a good corporate finance attorney (as opposed to your aunt the divorce lawyer) to advise you about the process of seeking investments. (DL note: you can legally raise money from up to 35 non-accredited investors, but still heed Guy's advice.)
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