Angel Networks · Angel investing

Is it worth Paying to join a AngelNetwork to get funding?

Asnee Fernando Cause-integrated Innovator & Entrepreneur,Founder & CEO of Shoptaki

November 19th, 2015

I was wondering if anyone here thinks its a smart or dumb idea to pay to join an angel network to be able to get funding? Since this site www.AngelNetwork.comhave been contacting me to join, but first i have to pay $1500 so they can evaluate my business plan then they will help introduce to network full of Angel investors. They say they have one of the former shark tank host that is part of the network which is true, but I feel it most likely waste of money and possible scam.

I honestly don't understand why I would have to pay to have someone evaluate my business plan especially at a early stage i'm in now, It would be difficult to determine prevalue especially when I have not launched. I hate the idea of paying just to talk to an investor, but was wondering if this be considered normal to pay or no?

Also if anyone has experience with that website?

Brian McConnell

November 19th, 2015

That's bullshit, and unfortunately a common scam. Anybody who requests money to evaluate your business plan and/or pitch is ripping you off. Avoid. At. All. Costs.

Asnee Fernando Cause-integrated Innovator & Entrepreneur,Founder & CEO of Shoptaki

November 20th, 2015

Hi Greg Writer
I didn't mis-categorize anything..  my question was is it worth paying to JOIN angel network to get funding? I even mentioned that the $1500 was to evaluate business plan.

I did not talk ill about your company at all, just asking the opinion of fellow entrepreneurs, investors, advisers,etc.. is it worth paying and if any one has experience with your organization.. 

since it is nice of you to join the discussion, maby you might be able to justify reasoning on why we should pay for this funding evaluation?  

After looking at that video link you have submitted, It still doesn't explain how you are able to prevalue my start-up especially when all I have is a prototype mockup. 

Does your company help revise the business plan? if the person evaluating for some reason does not understand the concept will they ask any questions to better evaluate the plan?

How come other investors don't ask start-ups to pay to evaluate the business plan? what kind of scoring is this? how do you help to get high score?

I hope these questions are not too much, but I am curios about it and very serious about my start-up hence the reasons for all these questions. 

I'm assuming others will like to know as well or have their own questions for you, based on the opinions they have given

Tom Maiaroto Full Stack Consultant

November 19th, 2015

No way!


November 20th, 2015

hi Greg, thanks for responding, great to have a discussion here.

I have reviewed your site at again, and here is my feedback:

- the url and the actual name Angel Investors Network has the word angel in it, in the vocabulary of an entrepreneur that means early stage investor, not advisor. So investments are handled by your members, but now you claim you don't?
- angelinvestorsnetwork seems actually more focused on the investors, not so much the entrepreneur. You seem to have an investor syndicate that allows other wealthy people to co-invest, or experienced people to help out starting companies
- as a secondary goal, you seem to "educate entrepreneurs" ?

Concluding, for me this is really confusing. You seem to focus on later stage companies for your investments (?) but I can't tell. I don't believe that you can invest in any type of business, investors need to focus on verticals.

Entrepreneurs that are working on early stage companies should not burn cash on initiatives like this, but look for advisors with relevant experience that first for free and down the road for equity are willing to help. I would not recommend members of FD to contact your organization, let alone pay $1500 for anything.

I hope this helps

Eyal Feingersch

November 19th, 2015

It's a common method to get clients.
Also used by salespeople of dev firms. 'I got a lineup of angels, but you must have a MVP and I can get you a development deal'.
Stay away.

Annette Tonti Founder, President at The Start Exchange

November 19th, 2015

100% agree, no way.  My bet is none of the listed angels on the website paid to get someone to review their deals.  Better to get a strong MVP, show traction, create the pitch and do what you can to get introduced to investors.

Louise Cohen CEO at Commintz

November 19th, 2015

No. Find out who is in this group. Get to every startup networking event in your area. Chances are, one or more members of angel group will be at every event. Make it your business to know who they are and where they'll be, many tweet about events they'll be attending. Talk to them one on one there. Most are eager to do so. This goes for seed funders, angels, VC's and the like. I don't care how well lined your pockets may or may not be, $1500 is precious to any startup. There are many investors who would look upon this expenditure as a precious waste of capital. Use it to prove your concept and investors will come to you. Many universities and colleges have mentor committees for entrepreneurs, whether you are an alum or not. Check into this for someone to cast a critical eye over your business plan. *Louise Cohen*CEO/Co-Founder *inspired commercial design lives here* *m.* [removed to protect privacy] * o. * [removed to protect privacy] *e. * [removed to protect privacy] *w.*

Andrew Lockley Investments & consulting for tech startups

November 19th, 2015

Biz plan usually a waste of time. Focus on the deck / prototype. If you can't explain your business in a tweet, you probably don't have a business. A

Thomas Kaled Business Development Consultant @

November 19th, 2015

The owner of this domain ties to this domain

Showing results for: ANGELNETWORK.COM

Original Query:

Registrant Contact

Name: Greg Writer
Mailing Address: 201 E Grand Ave, Escondido California 92025 United States
Phone: +1.7602332863
Fax Ext:

Brian McConnell

November 20th, 2015

The defensive reaction is another red flag. There's absolutely nothing wrong with you asking these questions, especially since the overwhelming majority of these companies and advisors who claim to help in fundraising are at best incompetent, and at worst outright frauds. In both cases, they generate negative value and can waste a lot of your time. That said, maybe this operation is legit, but that would be the exception that proves the rule.