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Seraf Toolbox: Follow-on Investment Scorecard

When a portfolio company raises a new round, the decision to reinvest isn’t always straightforward. Emotions, relationships, and momentum can cloud even the most experienced investor’s judgment. That’s why we created the Follow-on Investment Scorecard—a structured,...

Ignorance is Not a Defense: Legal Duties for Directors

While being a great director is often about adding strategic business value, and it is safe to say that thriving companies give rise to less risk than failing ones, there are some legal requirements which come with the job. Most of them are rooted in common-sense, but...

14 Terms Every New Angel Should Know

Understanding these core terms not only builds your confidence, but also helps you make smarter, faster investment decisions.

Deep Dive Mini Series: Prepping an Entrepreneur for a Deep Dive Meeting with Investors

If you are helping an entrepreneur raise money, there is no way you are going to avoid one or more “deep dive” meetings. Whether you are working with the company’s very first investors, or trying to build out the syndicate for a round, once a founder makes a...

Angel Investing by the Numbers: Valuation, Capitalization and Startup Economics

In the sport of Major League Baseball, the greatest hitters are those who get a hit just one out of every three times at bat and a home run 5 or 6 times out of 100 at bats. In the world of startup company investing, the best-known investors are those who invest in the...

Scavenger Hunt: What To Look For In A Pitch Deck

Deciding whether to invest in a good idea is hard. Even when its potential is clearly explained. Trying to make that evaluation without a solid explanation is an exercise in needless frustration. I’ve talked about the role of a compelling executive summary to get an...

Scavenger Hunt: What To Look For In A Pitch Deck

Deciding whether to invest in a good idea is hard. Even when its potential is clearly explained. Trying to make that evaluation without a solid explanation is an exercise in needless frustration. I’ve talked about the role of a compelling executive summary to get an...

Apples, Oranges and Rotten Tomatoes: Owning A Diverse Portfolio

I believe building a diverse portfolio is critical to success as an angel investor. But when I first sat down to write an article on diversification of angel investments, I knew right away I was facing a serious challenge. Numerous articles have been written on...

Angel Fundamentals: Understanding Equity Deal Terms – Mapping Key Deal Terms to Key Investor Concerns

As part of our ongoing series on early stage deal terms, in this article we are going to take a close look at the individual term sheet provisions and make sense of them by assigning them to the categories where they belong: Deal Economics; Investor Rights/Protection;...

Emerging Fund Managers Webinar

We hosted a webinar featuring Emerging Fund Managers, where panelists discussed key strategies for successfully launching and managing new funds. 
Seraf Investor Compass

How to Avoid the Closing Package from Hell

The moment of truth has arrived: it is time to close the round. The deal lead and founders worked hard together to line up investors, negotiate terms, work through deal documents and disclosure schedules, and track down every last detail of cap tables. As usual it...

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Learning the Hard Way – Due Diligence Mistakes

It is easy to talk about due diligence in the abstract, but it is much harder to practice what you preach. One of the hardest things about early stage investing is that it is really risky - if you don’t have some suspension of disbelief, and you obsess too much about...

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Seraf Investor Compass Blog

Seraf Investor

 Seraf Investor – Angel Investing: Valuation, Capitalization and Startup Economics. So, which is the right method for an angel looking for long-term returns?