Yesterday there was a panel discussion at the annual Edison conference (for inventors and entrepreneurs) on how to raise seed capital. It was moderated by David Bradford, partner at Greenberg Traurig, the 8th largest law firm in the nation. David is also my partner in FundingUniverse.com. Panelists included myself, Blake Modersitzki of UV Partners and Michael Keene, former Chief Science Advisor to two Utah governors. In preparing for the discussion I read through all my markups in Angel Investing, the excellent book that every entrepreneur and every angel investor should read about capital. Here are some of the facts and quotes I wanted to share:
- Angels fund 30-40 times more companies than VCs, but they do much smaller deals.