Preface (cont’d)
Finally, I hope there will be something for everyone in the early-stage financing ecosystem. Entrepreneurs will better understand investors and the fundraising process. Those who support the early-stage sector, such as consultants, lawyers, accountants, bankers and government agencies, will better see how their roles fit into things from their clients’ perspective. Friends and family will have deeper insights into what you are going through if you are trying to raise money. The curious will learn more about the fascinating world of finance and entrepreneurship. I tried to quote each of the many people who generously shared their stories, opinions and thoughts with me. In a few cases, I use quotes without attribution when summarizing several comments into a shorter statement: think of these unattributed quotes as summarizing a point of view held by many people into a Zeitgeist quotation. In this second edition, which is also translated into French, I have updated the book based on new information, streamlined a few sections for easier reading, and added a lot more information about Angel funds and portfolio management. This book is also meant to highlight the many resources, programs and events that NACO offers: • NACO Academy – an integrated program of educational modules from beginner to advanced courses • NACO Website – a resource with a wide range of member services and NACO Online Sample Documents you can use to share your investment practices, including investor declarations, legal agreements, checklists, term sheets and other documents • NACO Reports – 2014 and 2016 Report on Angel Investing Activity in Canad a – research reports on Angel investing activity in Canada • NACO National Angel Summit – the annual networking and educational event • NACO Co-Investment Events – events designed to help your investee companies raise their next round of financing with large-scale deal syndications
– Steven A. Gedeon, PhD June 2017
4 A Practical Guide to Angel Investing
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