Angel Investment and Advisory
Early stage angel investing is as much art as science, especially with so little data at that stage. Discovering great companies early on require identifying the right talent focused on the key challenges and transformative dynamics that unlock large markets. My primary focus is on the founding team, what experience and unique insight they have, their ability to deliver based on market needs and solution approach, their network for accelerating execution and how they think and adapt. Focused on meaningful problem sets, the right founding team accelerated, network or data or technology moats, and access to ongoing capital.
My primary areas of interest are:
SaaS
AI and Computer Vision
IoT
RetailTech
Martech
Deep tech
I write small checks $10-25k per investment. My goal as an angel investor is to make investment decisions quickly (because I have been on the other side of the table) and bring my networks to both validate and strengthen the companies. My advisory work primarily focuses on go-to-market strategy, marketing, sales and product strategy.
My Small Portfolio With Annual IRR Of 53%
Norbert Health
Stage: Seed
Thesis: Health monitoring is laborious and manual. Huge market ripe for disruption. AI and computer vision detection algorithms require deep technology expertise in both hardware and software. Knew founder and his unique capabilities in solving the problem.
Status: In FDA approval. Several strong pilots with very positive results.
Arta
Stage: Series A
Thesis: Underserved retail logistics for high-end auctions and collectibles, with low margin sensitivity and need for global delivery footprint. Strong founding team and initial customer base had huge room for expansion. Reasonable valuation with high upside.
Status: 270% YoY rev growth.
Adelaide
Stage: Seed
Thesis: I generally avoid ad tech, but this was compelling in their 400% YoY revenue growth, strong technical team, and an identified need of providing real scoring to viewability and audience attention of ads. It had strong traction for a Series A with high confidence at a premium to this seed bridge deal.
Status: Raised follow on Series A within 3 months at a 72% premium,
Sayspring
Stage: Initial Seed Investment
Thesis: Strong founder with successful exit, voice space exploding, easily understood problem space and solution.
Status: Acquired by Adobe in 12 months for a considerable multiple return.
nTopology
Stage: Initial Seed Investment
Thesis: Strong founder with deep technical expertise, transformational approach, large target market, easy to understand value proposition (cost, productivity, quality).
Status: $135m raised from Canaan Partners, Tiger at >30x value
Codota
Stage: Seed
Thesis: Software is eating the world and software productivity tools until recently have been mostly semantic verification, lacking context. Huge productivity increase are possible with greater contextual understanding of code base and structural best practices to auto-complete lines of code and reduce errors. Innovative approach. Strong technical founder.
Status: Has raised follow on Series A from eVentures and Khosla at >3x value.
Negotiatus
Stage: Initial Seed Investment
Thesis: Clear product value with easily proven ROI, very large procurement space, strong initial traction, enthusiastic founders. Active advisory allowed me to get closer to internals of business.
Status: $65m raised from Stage 2, Rally and 534 Ventures at >16x value of investment.
SouthSuite Software
Stage: Seed
Thesis: Strong technical founder inheriting IP assets for more performant storage systems for large data applicaitons, which are increasing rapidly.
Status: Running profitably.
LocalVox
Stage: Pre-Seed
Thesis: I was part of the founding team, large market in SaaS / Martech, clear understanding of the market and oppotunity.
Status: Successful exit to Blackstone at >10x return
Lynq
Stage: Seed
Thesis: Networked GPS systems have inherent energy flaws. Low power peer-to-peer networks of location open up new applications. Underlying IP is valuable across a broad range of industrial applications
Status: Raised $6m Series A from ffVentures, Chetrit, Sony Innovation Fund
Myro
Stage: Pre-Seed, First Check
Thesis: Although D2C is not my usual investment sector, this was the best founder intro meeting I’ve had as a lead mentor at ERA, with excellent industry experience, market research, proven CaC dynamics, and a large market.
Status: Raised $7m Seed within 12 months at >5x valuation from Obvious Ventures, Carmelo Anthony and Serena Williams
Perch Interactive
Stage: Seed
Thesis: Joined the team so confident as CEO, large market, SaaS / MarTech, strong customer base
Status: Raised money at >2x valuation from Fernbrook Capital, Overton Capital, running profitably
Propel PR
Stage: Pre-Seed
Thesis: Founder with deep experience in PR industry whom I’ve had a strong working relationship and ability to add value on advisory board. PR is a sizable industry with minimal tooling and data. Had personal insights into technology transforming the space and large funding in motion like Muckrack.
Status: Has raised follow on money at >2x valuation
Thirstie
Stage: Seed
Thesis: Regulated three-tiered alcohol industry has prevented beverage brands from establishing direct relationships with customers. Requires disruptive distribution and technology. Other competitors working on marketplaces that don’t give brands first-party data. Value to network building and data targeting.
Status: Raised $7m Series A from Queens Court Capital within 6 months at >30% premium.
CoolR Group
Stage: Seed
Thesis: IoT intelligence will be widely deployed to increase the efficiency of logistics and supply chain, but brands don’t have access to data without their own devices in specific convenience categories (beverage, etc.). Technical founders with deep team and good initial traction.
Status: Raised follow on capital and 6x the seed round.
Grifin
Stage: Seed
Thesis: Reduced friction in fin service connectivity and Tik Tok as a customer acquisition vehicle have created a window to build a brand for younger consumers to invest responsibly. Grifin is capturing younger, female investors, an untapped market. Seeing exceptional CPAs and was close to a following funding.
Status: Follow on funding from TTV Capital.