Domestic angel investment appears to cluster phenomenon entrepreneurs should be careful to distinguish

Since this year, a number of investment institutions set up early investment funds. Plus the previous individual angel's active, the domestic has appeared a "Angel" tide, the people even have "do not venture to do an Angel" said.

However, more money is not necessarily good for the industry. Macan, founder of the Pioneer Workshop, argues that it would waste resources and repeat investments, especially in the TMT sector, and that capital would exacerbate competition among start-ups.

Fund the Angel Period

The current Chinese angel investment is a "swarm" phenomenon. Industry in the popular "PEVC, VC Angel, Angel incubator" This argument, equity investment industry chain presents the characteristics of the forward movement. The recent case is: with the creation of Albert Early venture capital fund, Zhejiang business venture to set up a "Zhejiang Merchants Angel will."

In addition, some individuals or institutions in the name of Angel investment are rapidly scaled up. The typical representative is Su Yulie, born in 1985, starting with less than $10 times a year. As Qingyang Angel Investment founding partner, he told the China Business newspaper Reporter: "Like Xiaoping, Zhou Zhe Such angel investors are also my LP, this year the fund scale will be billions." ”

Behind the institutional operation of Angel investment reflects the way funds are looking for a way out. Angel investment is thought to make a lot of money, and capital inflows are very fast. Angel investor Zhou Zhe believes that angel investment is the focus of investment, which is the first priority to obtain returns. "Some people who are rich, free or ignorant will consider handing over money to people who have no money or leisure to manage." ”

The institutional necessity of angel investment is inevitable. Taishan Angel Investment director Kelly that the organization of the way to aggregate can lead more people to do angels, which is a big benefit for entrepreneurs. There are many cases in the angel period, which can breed good seedling. Compared to the individual "sow" the way, the organization can brainstorm, can cast more projects, the probability of casting a good project also increased.

There are not a few angel investors who hold this view. In the long run, however, the success and persistence of an institutional angel has yet to be validated.

Macan that many angels are currently operating in an incubator mode. According to his experience, the probability of success is not very good, we are too optimistic about pure Internet projects. "Relative to the angel of institutional, I have an angel of the concept of retail, that is now doing too many people, and occasionally cast one or two items of people, not real angel, and real Angel investment is a minority behavior." "Macan said.

The investment of Angels, especially in TMT and mobile Internet, can lead to highly competitive projects for entrepreneurs. Industry insiders believe that to solve this irrational competition, angel investors should be more exchanges and more cooperation, found that good projects to share, joint investment, this cooperation is Shire known as "loose type" organization.

Entrepreneurs should be the Angel "personality"

As an early investment, angel investors chose a lot, but because many of the early projects still stay in the business plan stage, so the test is the angel Investor's vision, whether from a pile of sand to find glowing gold.

Reporter interview found that angel investors have their own unique skills, personalized should be angel investment survival is the rule. So it also inspires entrepreneurs to "amenable" when looking for an angel.

For example, Shire prefer to have entrepreneurial experience of entrepreneurs, the industry to make money; Charlie like hands-on and novice entrepreneurs to create new projects; Macan like "mouse + cement" such as the use of technical transformation of the traditional industry projects; Zhou Zhe like the Internet or mobile Internet project with products.

As a representative of the Organization, Taishan Angel takes focus and boutique strategy, focusing on internet consumption and mobile Internet, winning in quality, 5 to 7 projects a year, and spending a lot of time to help startups grow after investing.

Su Yulie to take the "people Have I turn" differentiation strategy, not only to be angels, but also to their own business, there will be coffee such incubators, focus on the lifestyle-related areas.

Although these famous "angels" have their own preferences, they agree with the same tastes: entrepreneurs who like to speak good faith, experience, passion and EQ business, and require the entrepreneur to have the judgment, learning and execution.

Charlie preference for Entrepreneurial novice

As an experienced angel investor, he has created his own business, but also met the differences between the entrepreneurial team, and the subsequent style of investors, such as a variety of "fatal" problems. "Entrepreneurs inevitably make mistakes, but they must be prevented from making fatal mistakes." "This is the famous angel investor Charlie, who summed up a series of experiences.

A preference for entrepreneurial beginners

Many people can put "Himalaya bear" and Charlie on the number, is in his "give you a billion, what can you do?" Book. Prior to his "Himalaya Bear" under the pseudonym published a lot of blogs, talk about entrepreneurship, innovation, VC aspects of the views, a huge response.

Charlie is the starting Venture investment fund and the founding partner of the Dry Dragon Venture Capital Partnership Fund, but also a successful venture after the transformation into an angel investor.

Charlie said, do VC must pay tuition first. Before he managed the two funds, he had a wealth of angel investment experience and paid a lot of tuition fees. "We've been doing early investment, seed investing, understanding early investment and entrepreneurs, and working out a more effective approach," he said. "In the angel investment phase, the selection of the entrepreneurial team is very important," Charlie said. Because the early equity investment, is to cast people. He likes the newly-graduated or new start-up, because to create miracles, we must have the courage to break the conventional, investing in young people, the so-called ignorant people fearless.

"Beginners like a piece of white paper can be carefully drawn." "By Charlie and directing them, early entrepreneurs can quickly get to the right path," he said. He cited a negative example: a company they invested in, after more than a year of product polishing, to get a tens of millions of dollars of follow-up investment. And this VC entered, it disrupted the operation of the enterprise before the mode and rhythm, allowing entrepreneurs free development, the result of more than two years later, the company developed a pile of new technologies, sales but not with further, so that the company's value is not substantially improved.

"The founder was technically born, and the original plan was to introduce the money into the market, but the new investors completely let the founders go blind." "In this case, Charlie said, only hope for the awakening of entrepreneurs, so that the company adjust the strategy to make the right decision."

Regulatory predecessors

Charlie is happy to be an entrepreneur coach, saying that early venture capitalists must build flesh and blood and trust with the entrepreneurial team. He does not like to be an investor, and prefers to position himself as part of the entrepreneurial team.

Charlie always believes in working with entrepreneurs to find solutions to problems that may arise with the entrepreneurial team. For example, some couples startups, because of the founder of the divorce incident caused by the fatal crisis, for such problems, investors should be in the early due diligence in the discovery of potential risks and to guard against.

"Open communication can effectively solve a lot of problems, and the principle is that everything is beneficial to the company, the company's interests first." Charlie concludes. He also encountered a recent case in which the two founders, who had fallen sharply after a year of entrepreneurship, had a deep suspicion of the project's prospects. In this case, Charlie gave the founder three options on the board:

First, stay in the company as the founder, but be sure to adjust your status, second, stay in the company, go to the department to do the ordinary staff, third, choose to leave. The founder finally chose to leave.

Of course, his options leave a large part of the executive in the back. "Although he was a bit upset, the problem was solved smoothly, because we put all the questions on the table, there was nothing to hide, and we had an agreement on the founder's responsibility beforehand," Shuming said. "Charlie said.

Beware of bad angels.

There are some in the market under the banner of investors, but actually cheat other company intelligence false Angel also from time to see. Although there are countless people in the audience, a company that has invested in it has also experienced such a thing.

Charlie told reporters: "There is a senior in the industry, by the ' due diligence ' in the name of the company I invested in the customer situation and the details of the offer, when they get the information they want, finally decided not to vote." But then they set up a company to do the same business, and suddenly recruit two hundred or three hundred of employees, and directly to rob the company's customers. "This kind of vicious event is a big blow to entrepreneurial morale, but good companies will continue to be at the forefront of the market through innovation, without fear of Shanzhai and copy."

For entrepreneurs, how to judge the true and False angel, in fact, there is no program can be applied, and ultimately need entrepreneurs have a high EQ to make the right judgments.

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