Angel investing · Fundraising

Advice on setting timeline/building FOMO with angels?


Last updated on August 12th, 2017

My early stage venture landed a big client, and we'll be staging a high six figure seed raise to expand operations. My team will be approaching angels in our respective networks (i.e. folks we personally know) asking for a minimum contribution of $25k per investor. We want a process to keep things efficient, and I was hoping to get feedback on whether the below is realistic:

1. Offer the angel an executive summary

2. Introduce the angel to the founders and the client; get NDA signed in advance

3. After meeting, offer a term sheet along with a slightly longer business plan; give the angel 72 hours to sign

4. After signing the term sheet, give the angel 3 weeks to deposit funds; cooperate with due diligence requests during the 3 weeks

We essentially don't want to give the angels forever to overthink the opportunity. Any suggestions on adjustments? Also, should we lay out the timeline above to the angels or do it step by step?