Angel Investors in Utah

I’m studying the definitive work on ‘>Angel Investing by two Harvard Business School professors. One of the primary points of the book is that the contribution of angels to entrepreneurship is highly underrated. VCs seem to get all the press. But the book claims that “Business angels fund thirty to forty times more ventures each year than venture capitalists.

VCs tend to fund larger deals and angels tend to fund smaller, earlier stage deals.

I’d like to see Utah generate more early stage angel investing. But how does an entrepreneur find angels in Utah? The only organized angel investing group in Utah that I know of is the Utah Angels, and they are very sophisticated investors and seem to shy away from early stage and seed-round deals.

Someone needs to create a database or mailing list of other potential angels (the HBS book calls them “virgin angels”) and start informing them about potential investment opportunities and the benefits of becoming a business angel. I’m building a page listing utah investors, including both angels and VC funds.

Searching vFinance.com’s angel database in Utah I found the following. (vFinance charges $1-2 per record to display contact information for these angels.)

Angels in Utah by Net Worth

  • 9 over $100 million
  • 13 over $50 million
  • 22 over $25 million
  • 43 over $10 million
  • 65 over $5 million
  • 85 over $3 million
  • 146 over $1 million

After BYU’s web site competition last night, John Richards (a member of both Utah Angels and UVEF) and I talked last night about the need for an early stage angel group that doesn’t just passively invest in Utah start-ups but also actively mentors and guides the company towards future rounds that will include venture capital financing. I’d love to participate in the formation of a new angel group that really focuses on seed stage, management team formation and active mentoring. We could call it the Angel Mentors Group. If you are interested in participating, please let me know.

4 Comments

  1. Robert Robertsson

    Hi Paul,
    I have been researching the new venture development company market for 4 years. Im in the middle of developing a new company myself, dealing exactly with the problem you described in your blog; a interesting mix of business angels network, mentors, advisory services, project exposure service and more. If you would like to see, i can email you a log in?

  2. David Martin

    Hello Paul,

    I read your blog quite regularly. I am still young but I have an extensive background in technology and web based services. While I don?t believe that I would qualify as an angel partner, I would be happy to participate if only as a mentor. I have worked as a consultant for both Intel and Adidas through agencies in Portland, OR. In fact, I am currently working on a program to help young entrepreneur start-ups. Just keep me posted on the progress of this project.

    Thanks for the blog,

    Dave

  3. Michael Schmutz

    I like your comments on this blog. I am currently putting together a firm called Guerrilla Consulting that helps start up and active entrepreneurs get business documents that banks, angel investors, and investment groups want to see. I help them for these documents so that they are easy to read and precise when it comes to finances.

    I would love to team up with you in helping entrepreneurs do this. I offer my services at a discounted rate of $100 to $300 depending on the documents and presentations needed.

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