My Second Attempt At Angel Investing

Maybe I'm foolish. Maybe I don't know when to quit. But I'm taking another run at the angel investing -- this time, primarily through an online service.

The story so far goes something like this. I spent much of 2014 recharging -- away from the IT industry and away from blogging in any form. During that time "away," I quietly joined an angel investor group in New York City. It was a fantastic experience -- allowing me to network with some of Manhattan's top Wall Street veterans and a few tech pundits whom I've known since around 2008. Plus, I had access to a range of startups seeking seed funding.

But I also ran into some challenges. They included:

  • Industry Focus: The angel group was open to numerous verticals. But my interest is largely limited to IT. 
  • Location: Most of the meetings were face-to-face gatherings that involved a three-hour roundtrip commute for me. Hey, sometimes you have to travel to find great opportunities. I get it. But...
  • Priorities: ... my priorities shifted considerably when Amy Katz and I launched After Nines Inc. in September 2014. Now, I had even less time for the angel group.

So by December 2014, I decided to unplug from the traditional angel scene for a bit.

Another Path Forward

Now, I'm ready to do a pivot. To do so, I've joined Onevest -- an online community where startups seek seed funding from accredited angel investors. With Onevest, I gain:

  • access to presentations from a range of startups.

  • no commute.
  • a clearer view of startup and emerging IT trends.

The potential downside -- and it's a big one: I potentially don't get the due diligence brainpower that I had while working with that New York City-based angel investor organization. Within that group, numerous angels with a range of vertical market expertise (IT, healthcare, retail, etc.) fact-checked company claims and business prospects over and over again before any money potentially changed hands. 

In short, proper due diligence is the name of the game in angel investing. And I'll be curious to see how that process works in Onevest.

Alas, I still haven't opened my wallet to make a significant startup investment. And After Nines inc. is my absolute top business priority. But the temptation to jump onto the next Onevest webcast is only a few mouse clicks -- or multi-touch strokes -- away...

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