[Updated 5:15 pm PT with fresh quotes from Richard Sudek, see below] Regional angel investing groups in Southern California, Northern California, and New York say they’re banding together in an effort to lengthen the financial runway for early-stage startups before their founders are forced to turn to venture capital firms.
Tech Coast Angels, based in Irvine, CA, said in an announcement today that it’s joining with Band of Angels in Menlo Park, CA, and Golden Seeds in New York City to form a new alliance called the Angel Syndication Network. The idea is to lower the barriers to funding, so that companies that have already won early stage investments from one regional angel group can get pre-screened introductions to other groups in the network without having to restart the due-diligence process.
To read the full, original article click on this link: New Angel Alliance Aims to Keep Startups Out of Venture Capital’s Clutches Longer | Xconomy
Author:Wade Roush
