During a fireside chat at the 2014 New York Venture Summit, Goodwin Procter partner and Founders Workbench contributor Steve Davis met with NY Angels Chair Brian Cohen to discuss angel investing. According to Brian, angel investing is slowing down, and since 90 percent of all money for start-up seed investing comes from angels, start-ups better bring their “A game” if they want to land early backers.
So what does it take to woo angel investors? Brian says it’s about having a strong vision, not just a solid product. When pitching to angels, he also stresses the importance of having a convincing exit strategy, since ultimately angels are in the exit business.