How to Negotiate and Protect Your Pro-Rata Rights as an Angel Investor
If you could have only one contractual right as an angel investor — not information rights, not board observation rights, not anti-dilution protection — you should choose pro-rata rights. No other provision has as much potential to improve your portfolio returns, and no other provision is as routine
Biotech Startup Investing: an Angel's Guide to the Most Complex Sector in Venture
Biotech investing is not for everyone. We want to say that clearly at the outset, because the sector's combination of enormous potential returns and staggering complexity makes it uniquely dangerous for investors who do not understand what they are getting into.
Angel Investing Portfolio Construction in 2026: How Many Bets Do You Really Need?
Let us start with an uncomfortable truth: the median angel investment returns zero. Not a modest loss. Not a disappointing single-digit return. Zero. The company fails, the capital is gone, and there is nothing to show for it except a learning experience and a tax deduction.
Angel Investor Returns: Setting Realistic Expectations with Real Data
Every angel investor has heard the stories. Peter Thiel turned $500,000 into over $1 billion with Facebook. Jeff Bezos made his most famous angel investment in Google, reportedly investing $250,000 at a $100 million valuation. Andy Bechtolsheim wrote a $100,000 check to Google that became worth hund