Angels Tougher To Please

Angel investors are getting a lot harder to please but they are making up for the gap that VCs made by leaving the early stage market.

In 2003, 42,000 Angels in the US put $18.1 Billion into early-stage companies compared to $304 Million by VCs.

Angels want:

• Positive cash flow within 12 to 18 months
• Already have a product or service
• Have some paying clients
• An exit strategy
• The ability to double, quadruple, or increase an investment tenfold in five years

The Angel Capital Association (http://www.angelcapitalassociation.org/) is the first angel investor network. So far they have 60 members.

Read more at http://www.inc.com/magazine/20050101/getting-started.html

For more information, visit www.EvanCarmichael.com.