Tech Startup Toolkit

6 Angels: Your bridge financing solution

This chapter covers

• Raising large amounts from angel investors—impossible or totally doable?
• If you are between rounds, are angels a good way to bridge to the next round?
• Can you think of it as a numbers game and apply it to lots of angel groups at the same time?

At several points in my entrepreneurial journey, I found my company not ready to raise money from professional institutional investors—the VCs who come in after seed-stage financings—and seeing the end of our cash looming kept me awake at night. Typically, this was because we had not proven product–market fit (see anecdote 15, “Product–market fit: making sure the dogs will eat your dog food”) and were still too far from landing customers. ...