Bootstrap-Loving Angels

By February 23, 2010blog

A couple weeks ago I got inspired by attending the Colorado Open Angel Forum. A great group of angels & VC’s and six really interesting companies. However, the amount of cash and the valuations they were asking, with little to no revenues, made me feel like I was in the wrong place. Which for those of you who know me… well, let’s just say I walked away wanting something more organic, more bootstrapped.

I love the bootstrapped entrepreneur who generates value AND revenue the day they open their doors (or website). The kind of entrepreneur who likes to do the math on whether adding a water cooler to the office makes sense or not. The kind that likes to keep things real and gauge their sustainability by profitability, not how much they raised in their last round and at what valuation. The kind that value the experience and involvement of their angel investors more than the money they put in.

So then it hit me, why not riff off of OAFCO and have a gathering focused on bootstrapping entrepreneurs and local angels who believe in the power of bootstrapping. So here’s the deal…

Hosted at my house April 7th at 6pm:
5-10 Bootstrap-loving Angels (combined net worth of $100 million)
5 Bootstrapping entreprenuers
15 minute product demos/discussions (no PowerPoints)

Pizza, Beer, & Mega Monopoly afterwards

Criteria for Angels

  • Colorado based
  • Ability to invest up to $300k
  • Successful at building their own bootstrapped companies
  • Loves bootstrapping entrepreneurs and have invested/helped in the past

Criteria to apply to be one of the presenting companies

  • $30k-$200k/month in revenues
  • 40% growth over previous year
  • Break-even or profitable
  • Asking $300k or less in expansion capital
  • Colorado based or wanting to move company to Colorado
  • Internet-based business
  • No outside investors (except a little F&F seed $)
(until April 2nd, selection April 5th)

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