🤩 Happy Black History Month, becoming an angel, VC or LP, no-code hacks, and more

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Happy Black History Month! This is a month where we honor the triumphs and struggles of African Americans. Learn more here.

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Rihanna (Savage x Fenty), Sofie Abdulrazaaq (Goodfynd), Mac Conwell (RareBreed Ventures)

In the last two issues, we covered: money goals and different investment options. Today’s issue is for those of you who are curious about becoming or are aspiring angel investors, LPs, and VCs. I’ll do this by sharing an angel, LP, and VC fund manager perspective.

I’ve made 80+ investments in my lifetime. I list the kinds of investments below. Note: I’ve been able to do this because Josh and I have managed our money extremely tight, founders have allowed me to invest checks as small as $1K, I’ve wanted to show my commitment to venture capital, and because I’ve had the opportunity to invest through funds I founded/worked at and through scout/accelerator programs.

  1. Angel investments: individual direct investments into startups and through equity crowdfunding platforms

  2. Limited Partner (LP) investments: direct investments into venture capital (VC) funds

  3. VC investments: fund direct investments into startups

At this point, you may be asking:

  1. Which one can I do now? If you are an accredited investor by the SEC definition, you can invest as an angel or LP. You are an accredited investor if you earn $200K as an individual, or $300K as a couple, annually, or if your net worth is more than $1M (not counting the value of your primary home), or if hold a Series 7, Series 65, or Series 82 license. If you create a VC fund, you can invest through the fund regardless of whether or not you are accredited as an individual.

  2. How much money should I invest? If you’re non-accredited, you can invest as low as $10 on equity crowdfunding sites. If you’re accredited and you want to invest in either a startup or a venture capital fund, you can invest the amount at the cross-section of how much (or little) you want to invest and how much a founder or a VC manager will accept.

  3. What should my angel-LP-VC fund strategy be? I can’t answer this question for you. But I can ask you a question that can help you figure that out for yourself. Read on.

  4. Why would you want to be an angel, an LP, or a VC? I’ll tell you why I've been all 3.

    1. Angel investing: I have opted for this choice when I’ve spotted a founder who I 100% believe will build a unicorn, they allowed me to give them a tiny check (≧$1K), the round was closing quickly; it’s true that venture capital funds tend to have longer turn-around times (something I’m working on addressing). On the equity crowdfunding front, I’ve invested in the platforms themselves because I definitely see them becoming decacorns! Portfolio company examples include WeFunder and Republic.

    2. LP investing: I have invested in 3 fund managers because I believe they will make me money, are good people I want to see win, and because they fall in my personal thesis: community-driven. Portfolio fund examples include The Weekend Fund, Operators Collective, and Rarebreed.

    3. VC investing: If I have a fund, I will always invest out of my fund first: (1) when I see a founder that fits my thesis; (2) I have 100% conviction that they will produce a unicorn; and (3) I execute on my DD process (which includes reference calls). The reason I will always prioritize investing through a fund is that I will have more capital to invest (which, theoretically, means a bigger chance to make more money) and it’s a fund manager’s fiduciary duty to invest in winning deals and make money for their LPs. Portfolio company sample (scroll to the bottom).

Until next time, reflect on the questions below:

  1. Why would you want to be an angel, an LP, or a VC?

  2. What’s your angel-LP-VC fund strategy going to be?

Disclaimer: I share my perspective above and yet I’m not a licensed financial advisor and advise you to do your own due diligence before making money moves.

✨ Lolita Taub
twitter | lu.ma | Made Forbes, Assure, and Austin's Business Journal.


Rihanna raised $125M for Savage X Fenty’s Series C. Claudio Barahona raised $100M for Alaya Capital’s Fund III. Miguel Armaza and partner Andrew Endicott raised $9M for Gilgamesh Ventures. Sofie Abdulrazaaq, Kyle Miller, and Lemaire Stewart raised $1.8M for Goodfynd. Arlan Hamilton raised $1.4M for HireRunner. Laura Moreno Lucas made Partner at L'ATTITUDE Ventures. Gabriel Vasquez made Partner at a16z. Damaris Mendoza Loera became an Investment Relations Manager at 500LatAm.

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Lolita Taub | No-code curious founders: LaaS Co’s no-code short list

Women of Color & Capital | Women of color founders: check out this curated database to find grants applicable to startups across a wide range of industries

Asking for a founder | Founders: discover ways to get in extra pitch practice

LaaS | Underrepresented founders: get resources made for you

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Startup-Investor Matching Tool | Founders: get intros to investors

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