@tommyjo.eth
I just ran a short 4 week angel round (ā°) with funds now received š.
It was intentionally small ($115k received; $140k subscribed) but I still wanted to share stats and learnings to other /founders in case it's helpful:
š Angel Round Stats:
- 96 warm introductions
- 54 non-responders
- 21 rejections (8 immediate; 13 post-call)
- 8 ghosted us
- 8 couldn't hit our timeline
- 5 hard commits
- 4 angels funded
ā
The Good:
- 4 weeks meant we can get back to building
- 'Warm introductions' are the way
- Super smart Web3 angels (e.g. CowSwap & Brickken)
- 50% of backers were from traditional finance
- A transparent process with weekly investor emails creating FOMO
ā To improve:
- Under estimated how macro uncertainty can impact commitments
- Over focused on traditional finance; they see risks everywhere
- Confusion around investor docs slowed things down
I'd love feedback from other builders as we'll be pivoting our Stablecoin yield and non-custodial risk platform to Web3 VC in Q3'24 š„
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