What does your company do?
I have a small angel fund that I set up so that my friends and family could participate in my angel investing activities.
What are some of the biggest challenges to raising money for a fund such as yours?
Frankly, the biggest challenge is simply the logistics of collecting all the signatures and checks. Everyone is busy, and it’s easy for documents to get lost or buried.
Who were you approaching for your capital raise?
I approached friends and family, as well as people who had invested in my prior startups.
What types of information did you store in your CapLinked deal room?
My CapLinked deal room was a critical resource. I attached my fund letter, plus all my fund documents. This gave all the LPs easy access to the relevant information at any time (and let me know who had viewed the required documents, and who needed another reminder).
How did CapLinked help you during your capital raise?
CapLinked was a big help when it came to monitoring activity and making it easy to send updates to potential investors. Whenever someone I talked with expressed interest, all I had to do was invite them to the CapLinked deal room, rather than rooting around for documents and sending out an email with file attachments that might get lost, spam filtered, etc.
What role did your network play in this process?
I think the network was very helpful in generating “social proof.” It didn’t hurt that I was offering attractive deal terms!