Angel investing · Startups

What intangible attributes in the team are important for a new startup?

Olumidé Gbenro

October 23rd, 2015

 We are acquiring a few users in our social travel app and adapting our MVP depending on ongoing feedback.

Just wondering what are Angel investors looking for as we continue to develop. Are there particular attributes they look at in the team or the business development process before they dive in?


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Anonymous

October 24th, 2015

Personally when I invest, first of all I have to believe in the market potential and scalability of the venture. Then I look at the team. The team needs to have the passion, conviction and confidence in their idea. I hesitate to invest in teams that are too 1 dimensional - for example all founders are technology driven and don't have marketing or business development or finance or any other important functional expertise. The other reason I hesitate to invest is if only 1 person in the team is controlling everything. I have had experience where if I ask a question to any of the 3 founding members, they all say we need to check with Founding member X who usually acts as the CEO. This always makes me nervous. Unless the question is very specific, all management team should be able to answer general questions like what version of product are you at? How many customers are you acquiring every month? What is your cash burn rate? What's the vision forward? What tactical steps are you taking to get there? What's the current valuation? Etc. Hope this help. If it was too general, please let me know and I can set aside time to chat with you. Good luck! Warm Regards, Shaheeda Abdul Kader +971-50-7942895 Www.linkedin.com/in/shaheeda @saq3

neven sakotic

October 23rd, 2015

thats right , but if you can do by yourself, all that big profit will stay

Joy Montgomery Continuous Improvement for Cleantech Companies, Connector

October 23rd, 2015

  • Does anyone want what you're offering?
  • How much do they want it?
  • Do you have a full Team?
  • Do they believe you can produce what you say you can?
  • The really intangible one is - Can they stand you while you do it? Are you collaborative or cantankerous?

Michael O'Malley Board Member at domestic violence crisis center

October 23rd, 2015

Big , Big Profits. That is what Angels look for.

Henry Chou Product & Marketing Leader

October 23rd, 2015

I think that investors will look to see if you have a hacker (an engineering type), a domain expert in the space that you will be tackling, and a hustler (someone that will do whatever it takes to help close business).  These attributes don't have to exist in 3 separate people.

Obviously, if your team has had startup experience before, that will be more attractive as well.

Hope this helps

Paul Stewart Founder, Director of Development at Arck Interactive

October 23rd, 2015

Primarily revenue, but active users and novel (patented or patentable) technology are also important to most investors.

Paul Stewart Founder, Director of Development at Arck Interactive

October 23rd, 2015

What would the investors be funding?