I'm in the process of closing an angel round for one of my companies today. I was asked by one of the investors how the closing was going and I wrote:
Like any closing with angels ....
- 60 percent close with no problem,
- 30 percent close a day or two late, with little problem and a little massaging
- 10 percent close in a week or more, with plenty of problems and lots of massaging.
Overall, I'm reminded of :
- The benefits of working with institutional funders.
- Never to try to close a financing on Friday.
- The similarities amongst Angel financings and herding kittens (or greased pigs -- kind of funner image :-).