Startup founders regularly fork over chunks of their companies in exchange for venture capital. But a new angel fund is hoping that they’ll do the same in exchange for engineering talent.
“Most of that money (from venture capitalists and angels) is used to build a product,” explains Haig Kayserian, the CEO of Kayweb Angels. “Once that product is built, you will probably have given away a lot of equity.”
Kayserian sees what he calls “angel developing” as a way for entrepreneurs to accomplish the same end — a product — without giving up control of their companies in the process.
Kayweb is named for its majority owner, the design and development firm Kayserian founded in Australia seven years ago. That company, which now has a client list of more than 200 companies and additional offices in the Philippines and New York, takes on the startup projects that Kayweb Angels selects. Like a traditional capital fund, Kayweb Angels also has a board of directors that provides its startups with connections, guidance and help securing further funding.
To read the full, original article click on this link: Startup Investor Makes a Deal: Engineers for Equity
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