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Seraf Toolbox: Evaluating Board Performance – A Guide for Early Stage Companies

As a director on an early stage company board, how do you evaluate the performance of the board? And, how do you evaluate your individual contribution to the board? Those are very important questions that very few early stage company boards take the time and effort to...

Can You Hear Me Now? Building Great Director-CEO Communication

In our previous article Spade Work: How Early Stage Board Directors Add Value, we discussed some best practices which we gathered from both our personal experience of sitting on company boards, and from some very successful VCs, angel investors, and advisors. We laid...

Beating the Odds: Startup Pathways to Success

As an active angel investor in the Boston tech sector, I witnessed many paths to a successful return on my invested capital. Sometimes the path is short and sweet. Other times the path is long and convoluted, but ultimately leads to a happy ending. I subscribe to the...

Sifting For Success – Pitching Angels In Groups

There can be tremendous advantages to working with angels in groups. The key is the speed with which an entrepreneur can find her champions.  There is more process, but the results justify the effort.

To Follow-On or Not to Follow-On – That is the Question

As your angel career develops, and you start to build a larger portfolio of companies, you are increasingly asked to make follow-on investments. Not only do companies need investment to get off the ground, the faster they grow, the more cash they need. Whether to...

Seraf Toolbox: Template for Due Diligence Reports

We’ve published a fair amount about due diligence and being a deal lead. In those pieces we talk a lot about the importance of having a good diligence template to ensure the final product is useful to the reader. Here for your reference is our Due Diligence Report...

Noses in, Fingers out – How Boards Support Management Teams

So, do you think you have what it takes to be a great board member? Take a moment…don’t give a quick answer. Think about it long and hard, because a board member can have a major positive or negative impact on a company’s future success. You shouldn’t jump into a...

Grist For The Mill: Gathering Data for Diligence

Do you know what the magic moment is when an entrepreneur can say to her team that she is in diligence with a potential investor? It’s certainly not at the first meeting with the investor. And, most likely it’s not at the second meeting. 

The State of Angel Investing in 2026 – Webinar

Join Seraf in this webinar with Andrew Kazlow as he walks through what the latest data shows, what surprised him, and what it means for the way angels make decisions going forward.
Seraf Investor Compass

Speaking Truth to Power: Advisory Board Basics

Advisory boards are not always that well understood, but they can be a huge driver of success for start ups. Advisory boards can provide a company with experience, connections, perspective, and legitimacy. And there are times when they can provide encouragement to...

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Timing Is Everything: Angel Investing Success

Ask a great investor what factors are most critical in his/her success in selecting investments and you will probably hear some variation on the following list: Great Team, Great Idea, Huge Market Opportunity, and Innovative Business Model. But there is one other...

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Good To Go: When You Have Enough to Move Forward

There are a million reasons not to invest in any given startup. Even in the best case, there will be unanswered questions, missing pieces, missing team members, projected losses and uncertainty all around. The diligence process tends to document all of the warts in...

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Staging Capital: Angel Follow-on Theory

Most startup companies have a continuous need for funds to help grow the business. You will hear the term “Follow-on” as a frequent catchphrase for this type of investing. For example, it’s common to hear one investor say to another, are you planning on “following-on”...

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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?