<\/a>good things that are going well. However, they tend to downplay the things that are not going well. Eventually, we may have to step in to enforce information rights to figure things out, not just because we want to know how the portfolio is doing, but also because we want to see where we can help. As an example, I will talk about a company (no names are going to be brought up) I invested in very early in my angel investing career. Company was backed by a number of brand-name investors (I will not name who), and now we just realized the company raised a number of note rounds and has been doing that for a long time.<\/p>\n\n\n\nThings were going well until they weren’t, and we are now learning that a number of us didn’t have info rights on the agreement. Not sure how to do it now, but maybe the founder didn’t intend for it to be there in the first place (since the company drafted most of the agreements).<\/p>\n\n\n\n
So for new angels, an important lesson I learned the hard way, ask for your info rights (of course when you do it, don’t be unreasonable by hounding the founder every day but it is something you should ask for so that you can track your portfolio on an operational level). Otherwise, it’s hard to find out what needs to be done and how your portfolio is being affected.<\/p>\n\n\n\n
Another thing, diversify, diversify and diversify. Can’t stress this enough…<\/p>\n\n\n\n
P.s. This deal was done in 2017\/2018. So long time ago… Now we have learned, and that’s the most important thing. Learning is part of this process…<\/p>\n","protected":false},"excerpt":{"rendered":"
Recently, I was looking at a startup within my angel portfolio and realized there were a number of issues that eventually surfaced. Back then, as a new angel, you just want to support founders worth supporting and typically miss out on a number of terms that are so key to determining your portfolio, only for …<\/p>\n
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