When finance executive Ane Ohm joined Harqen, an early-stage company that makes tools to index and analyze recorded phone conversations, one of her reasons for taking the job was, in a sense, lofty: she hoped to meet angels. While the ones she was targeting are not quite as rare as the heavenly variety, angel investors are not as commonplace as smaller companies would like.
With bank financing still uncertain, small and midsize companies are looking to alternatives, with mixed results. Angel groups generally invest in only 1% to 10% of the opportunities that come before them, according to Marianne Hudson, executive director of Angel Capital Association. Those are slightly better odds than companies seeking venture funding or private-equity infusions will encounter, according to a recent survey by the Pepperdine Capital Markets Project, but just 13% of businesses that responded to that survey reported getting funding from any of those sources.
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Author:Alix Stuart
