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Did you make enough money as a regular sw engineer to put into seed investing or did you get your investing capital from somewhere else?
by rasen58 9y ago
Did you make enough money as a regular sw engineer to put into seed investing or did you get your investing capital from somewhere else?
- lpolovets 9y agoYou need to be accredited to angel invest in the US, which means $200k in annual solo income, $300k in joint income, or $1m in net worth. The net worth number is hard to hit, but the income levels are attainable if you work at a bigger company (Google, FB, etc). In my case, I got very lucky at my first job out of college by joining LinkedIn when it was ~15 people. That eventually gave me some capital to angel invest. But to start the seed fund I currently work at, I partnered up with several people who had venture investing experience and we ended up raising money from outside investors. FWIW, fundraising for (unknown/first-time) VCs is as much of a slog as for founders. If I recall correctly, it took us about 10 months to raise our fund, and we talked to 100s of investors in the process.