Episode Summary:
In this episode, Maxine Minter and Cheryl Mack discuss their journeys into angel investing and share valuable insights for aspiring investors.
They highlight the importance of community and learning in the early stages of angel investing and provide guidance on different investment strategies. Maxine and Cheryl also emphasize the need for diversity in the investor landscape and discuss the changing dynamics of the startup ecosystem. They address common misconceptions about angel investing and offer practical advice for those looking to get started in the field.
Key topics discussed in this episode include:
• The different paths to angel investing
• The role of education and community in learning about investing
• The significance of diversity in the investor landscape
• The challenges and rewards of angel investing
Episode Sponsors:
Chapters:
Introduction and Early Discussion
00:00:00 - Introduction to the show First Cheque
00:01:09 - Maxine's journey into angel investing
00:02:53 - Cheryl's accidental entry into angel investing
Community and Diversity
00:05:00 - The importance of community in angel investing
00:07:45 - The lack of diversity in angel investing
00:08:49 - The growth of inclusive communities and educational programs
00:09:47 - The impact of funds in promoting education and community
Investment Approaches
00:10:33 - Introduction to angel investing and different on-ramps
00:11:38 - Different ways to invest: direct, syndicates, and funds
00:12:58 - Investing in funds with smaller minimum investments
00:14:30 - Prediction of more micro funds in the future
Learning and Participation
00:15:04 - Importance of maximizing learning in early investments
00:16:01 - Different reasons for angel investing
00:17:11 - Diversifying and creating a higher return profile
Diversity and Inclusion
00:17:50 - Lack of representation in angel investing
00:18:49 - Opening doors for people outside the ecosystem
00:20:23 - Tailoring on-ramps based on investment goals
Community Learning
00:21:42 - Discussion of angel groups and syndicates
00:23:18 - Value of collaborative discussions
00:25:19 - Importance of asking questions and learning
Resources and Education
00:29:38 - Need for lawyers and accountants
00:31:23 - Book recommendations: "Angel" and "Venture Deals"
00:31:48 - Discussion about writing an angel investing book
Risks and Considerations
00:33:13 - Challenges and risks of angel investing
00:34:44 - The "j curve" and investment psychology
00:37:15 - Advice on investment allocation
00:38:28 - Exploring alternative asset classes