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investors ? Protect the investors from themselves ? Protect the individual investor from himself AngelMaintenance Techniques Define a board representative for the angels with past experience ANGEL VS. VC VALUATION VC ? VC allocates ~$10M total for an investment ? The money is divided between rounds ? The VC needs to maintain 25% holdings in the pany – unless you go to huge valuations. (*) Angel The TomerIshay Method? ? Find a prominent lead investor and then negotiate ? Talk to the rest of the investors only after valuation was set ? Raising money in chunks Angel What should you tell the Angels before closing ? Make sure they understand the business plan ? Tell them they need to consider the money as gone. ? Say that you do not take money from widows and orphans. SUMMARY Summary ?There are not definite pros amp。 cons ?Angels are a great way to start ?Do you believe in Angels? I do THANK YOU