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What should I know in advance of seeking angel money?
Angels fund 60% of all young technology companies looking for $1 million or less in start-up funds. Primarily, they invest based upon a trust of the entrepreneur and management team. Therefore, your pitch should recognize these attributes. In structuring a deal, try to use convertible notes (versus preferred stock) that convert into equity on the terms set in your next round of venture capital funding. This method preserves maximum flexibility for future funding and can be quickly documented.
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