"The Age of the Angel" - A read from the other side

Want to get a sense of the investment philosophies driving our regional angel groups? Take a look at the first draft "Best Practices" published by the National Angel Association, available here.

Angel groups are one part of the angel ecosystem, historically the least active in terms of capital deployment but the most active in terms of cultivating deal flow. In the current environment, there is a movement within some of these groups to expand their reach, even cross-investing in the portfolio of another angel network.

Against this backdrop, the guide makes for an interesting read. As someone on the investee side, I find parts of the guide out of touch, but other parts a compelling read. For example, wading through the recommended deal screening and due diligence practices helps one understand why angel groups can be very good at finding qualified deals, but very challenged at closing an investment. Here's hoping a final draft provides some tactical guidance.

More later.