Questions

Looking for sources of “micro-angel” funding (~$100K) for a food start-up. Any suggestions?

3answers

High net-worth individuals familiar with the industry or credit cards. Visa can make an amazing investor, just be sure to ask for money when you don’t need it.


Answered 6 years ago

+1 to Dan's answer. Another idea...

1) Research similar food startups that have gone on to do well / sell / exit
2) Check their listing on AngelList or Crunchbase and see who their early angel investors were
3) Work your network to meet with them. If they've already had success investing in the food startup space, they'll be more interested to listen & invest.


Answered 6 years ago

Definitely from someone else with a successful entrepreneurial career in food.

1. You need "smart money," not just money. My wife was an entrepreneur in food for 8 years and did it herself. The amount of bizarre stuff that happens there is unthinkable. Having someone to help see around corners is a secret weapon you want to have.

2. You need someone who understands the mechanics of the business, who understands that turnover every three months in delivery drivers and dishwashers screwing the hostesses in the alley is nothing to worry about. Who understand the pay-back periods and the labor of love.


Answered 6 years ago

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