How To Close An Angel Round

When trying to get an angel round done, the key question is how much you need to have raised to hold a first close. Most rounds I’ve been involved with have lower and upper bounds, e.g., $400k first close, $750k maximum raise.

The goal here is to get to $400k and a first close, and using the best tactics to get this done. Because once the first close is achieved, there is a strong gravitational pull toward the final close as the impact of social proof is felt and "fast followers" jump on board.

Roger Ehrenberg

Full Story: http://www.businessinsider.com/how-to-close-an-angel-round-2010-12