How I got into angel investing? – Part 1

How I got into angel investing? – Part 1
My first investment

I’ve been asked many times – what is a junior investment banker with next to no money doing in the startup investment space? I ask myself that very question all the time, while I stand humbly on level 1 looking upwards at the internet veterans who I am tagging along in the same rounds in my investments.

Bottom line is – angel investing is fun. There’s a lot you could learn from doing it.

I started my journey back in May 2012. There’s a company I’ve seen with some press coverage called Superfly. It’s a beautifully designed online travel metasearch engine, coupled with personal itinerary and loyalty membership information. It’s very similar to Mile Wise (and kudos to Yahoo! for taking them offline). CEO is Jonathan Meiri. First time I saw this on TechCrunch I thought it was a brilliant idea, and I see great future for them. For some reason, I thought it might be an even better idea if I knew the CEO so that if / when they raise money I want to be first to know about it and be able to put some money in. So, after some semi-stalking on LinkedIn I found his profile and sent him a message to introduce myself and to learn more about the company.

I later learned that Bill Smith as well as Jeff Clarke are both angel investors in this little company – quite an impressive investor base considering its Israeli-origin and early stage. After scrambling a lot through my savings account, I finally found some money to do it.

Coming from a completely different background, reading the termsheet wasn’t easy. Thanks to Thomas from MoFo, he taught me some of the basics here which would later become the foundation of my learning.

I finally signed and returned the termsheet to JM and shortly after wired over the money. I know I’ll have to sit on this for 3-5 years, with no liquidity and a very high chance of kissing it goodbye. But it felt right. It’s money I’m not using for a while, and could open a lot of doors in the online travel space for me.

I went about putting this on my LinkedIn profile and stated that I’m an angel investor in Superfly – a move which opened up quite a can of worms (in a positive way) for me.

…To be continued

 

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Posted on September 20, 2013, in Angel investments. Bookmark the permalink. 159 Comments.

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