I attended a 3 hour session on angel investing organised by London Business Angels (I’m a member now). Most of the afternoon covered familiar ground, but the scary part was the detailed exposition of the lists of items to be covered in due diligence. Of course I like to think that I’m reasonably thorough in these things, but it’s clear that the world of angel investing is more generally populated with people who are happy for somebody else to do the due diligence and structure the deal, leaving them with the job of writing a cheque and chasing the share and EIS3 certificates.
I can see why. The checklist presented in this afternoon’s session took me back to my corporate venturing days, when I had the time to spend months with lawyers dotting the ‘i’s and crossing the ‘t’s on warranty clauses.