Our investors are looking to take a minority interest in small, growing companies. In many ways, we're more like early stage private equity. The typical profile is as follows:
i) a significant friends and family round has already happened;
ii) the Company is earning revenue or at least has shown customer acceptance;
iii) the Company is at a point where it needs rocket fuel, or in other words additional major milestones can’t be completed without growth capital;
iv) the management team is already stout and needs little if any supplementation;
v) there is a clear critical path to exit; and
vi) the Company needs a check of $25k to $500k.
We love investing in Texas, but we don’t mind going outside the state for an opportunity. We've made investments as far as Kansas and have looked at companies in New York and Chicago. As for industries, everything from tech and cloud-based to consumer products and restaurants/bars is attractive to us. Some sectors which specific angels in our group really like are tech enabled services, consumer products, bars, restaurants, real estate, data management, retail, and apps.