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Angels, Dragons and Vultures: How to Tame Your Investors And Not Lose Your Company by Simon Acland

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THE ANGELS (AND DRAGONS)

The Vultures invest other people’s money. The Angels invest their own. So it is no surprise that their attitudes are a little different.

You would have to be a very holy Angel indeed not to mind losing money. Nevertheless, it can be easier to lose your own money than somebody else’s. No sensible Angel will invest more than he can afford to lose. He may have taken that risk earlier in his career in the business activity that made him enough money to act as an Angel now, but he will not invest more than he can afford to lose in somebody else’s business. Most of his wealth now will probably be allocated to asset classes that are a great deal safer than venture capital.

Nor does an Angel have to worry about management fees. ...

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