Fund: Boston Harbor Angels
Posted by gater1 on 2013-03-30
I've pitched to half a dozen angel groups in New England with a solid track record of getting into due diligence (6/6) and term sheets (5/6). Harbor stands out as the least engaged and laziest group by far. After pitching, I got a favorable response and a list of members who were interested in learning more and/or participating in due diligence. Not one followed up.
All the other angel groups were proactive in assigning deal leads and were active in managing the dd process. Harbor were content to sit back and see how all the other discussions developed and put the onus on me to organize discussions with them.
Every angel group has its own culture. The atmosphere at the Harbor pitch events is fun (the lead acts more like an emcee than an vc), and it's clear that there is a strong social element to the group. Unfortunately, it's clear that they are more of a country club than an investment club -- a sentiment that has been expressed in candid conversation with other angels.PRIVATE: Members Only