Super Angel Gil Penchina on syndicates, 20 years & 200+ investments | Angel S1 E2

TL;DR

Gil Kanchana, a seasoned angel investor, shares his insights on angel investing, including his approach to sourcing deals, evaluating startups, and managing failures.

Transcript

angel is brought to you by audible with an unmatched selection of audiobooks original audio shows news comedy and more get a free audiobook with a 30-day trial at audible.com slash angel book hey everybody welcome to angel my podcast about angel investing in this podcast I sit down with angel investors and in the first half of the show I talk about... Read More

Key Insights

• 😇 The best angel investors are those who are open to new ideas and have a tolerance for risk.
• 🛩️ Start with a small budget and learn by observing successful syndicates before making your own investments.
• 🥰 It's important to find startups that have traction and a product that customers love.

Questions & Answers

Q: How did Gil Kanchana get into angel investing?

Gil Kanchana started angel investing in the late 90s while working at eBay. He was drawn to startups because of the interesting people he met.

Q: What are the key differences between people who work at big companies and those in startups?

According to Kanchana, the key differences are a tolerance for risk, openness to new ideas, and a certain level of "crazy" and energy that is often seen in successful entrepreneurs.

Q: Why does Kanchana suggest starting small and observing successful syndicates before making one's own investments?

Kanchana believes that angel investing is riskier than most people realize, and starting small allows new investors to learn from others' experiences. It also gives them time to develop their own rules and heuristics for investing.

Q: How does Kanchana evaluate deals and what does he look for in startups?

Kanchana doesn't have a specific rule but believes that at least one aspect of the founder, product, or market should make him say "wow." He looks for traction in startups, particularly repeatability and a product that customers love.

Summary & Key Takeaways

• Gil Kanchana got involved in angel investing in the late 90s and was drawn to startups because of the people he met.

• He believes that the key differences between people who work at big companies and those in startups are a tolerance for risk, openness to new ideas, and a certain level of "crazy" and energy.

• Kanchana suggests that for new angel investors, it is important to start small and learn by watching and observing successful syndicates before making their own investments.