Angel Guide
oslash.comAt OSlash, we raised a $7.5M seed round where over 50 angels from across the world participated, including Akshay Kothari (Notion), Girish Mathrubootham (Freshworks), Olivier Pomel (Datadog), Nicolas Dessaigne (Algolia), Christian Oestlien (YouTube), and Cristina Cordova (First Round), among others.
We’ve broken down our exact approach to raising a seed round from angels in the playbook on the link. The idea is to help early-stage founders looking to raise a seed round, especially in the next few months.
One important thing for founders to recognize is the thin line of difference between actual individual angels and entities of investors disguising themselves as individual angels (think investor groups and syndicates, partnerships and Special Purpose Vehicles). You could also possibly include a note to that effect in the guide. Otherwise, well structured and well explained.
An important thing you missed out under “What do angel investors look for in a startup?” is a sign of early traction. No one wants to invest in a great idea alone. So, something like a beta or MVP, pilot customers, partnerships and collaborations or alliance with an accelerator etc. can be an important criterion for angels.
Raising angel funding for your seed round does make a lot of sense when you also look at the non-monetary benefits: the sense of trust, advice and mentorship, the advantages of community and networking…it’s a good package deal for anyone just starting out in the world of business.
I am curious how you managed to pitch and get these angels on board? Some of them are pretty big names and I am skeptical about them answering every DM request for investment from startup founders, because they would likely receive hundreds, if not thousands.
Would you guys also want to add a section (or maybe a new guide) to getting a VC on board? I see you had a lead VC already and am assuming that made approaching angels far easier than otherwise? That would make a helpful read too! All the best
Fundraising is emotionally taxing for a lot of founders. A section to deal with the emotional upheavals (like that last FAQ) would make your guide all the more useful for an early-stage founder with little experience.
Loved the detailed section on preparing for the pitch to angels. The investment memo and pitch deck can make or break the pitch; it’s super important (and not all that easy) to get them just right. Great tips there!
Great idea to add those FAQs at the end. I suppose a lot of first-time founders would have those apprehensions and it always helps to hear these things from someone who’s been there, done that.
It’s a comprehensive guide, very well put together. Kudos to you guys for pulling it off and all the best with growing OSlash! P.S. Loved the intro video too.
Founder's Angel Guide