Our show today is about Angel Investing and how entrepreneurs should go about finding the right angels and we will also be discussing the value that professional angels bring to an early stage company.
Angels have become the preferred source for funding early stage companies as the process of connecting with angels has become much more organized and efficient. Today we have angel investor groups in most major cities and there are several angel investor networks on the web.
Angel investors are a great resource for early stage entrepreneurs as they can make decisions a lot quicker than larger institutions and they bring great mentor value to your company, which is a huge asset.
It used to be that you would connect with Angels on an individual basis, but today many angels are pooling their assets and forming Angel Funds. Angel Funds are a smart way to go as the investor gets to diversify and the entrepreneur gets access to a much larger pool of resources.
Lets face it, early stage investing is extremely high risk and history tells us that if you get 1 or 2 that work, then you have done well.
Chattanooga, TN is a town where a lot more than 1 or 2 have worked. This city has a long history of breeding successful entrepreneurs, most notably with Coca Cola Bottling going back to 1899, where two lawyers travelled on borrowed funds from Chattanooga to Atlanta and persuaded the owners of Coke to give them exclusive rights to distribute Coca Cola products. This transaction was the start of billions of dollars of wealth being created by entrepreneurs in Chattanooga.
The Chattanooga Renaissance Fund or also known as CRF has recently been launched by several of this cities most successful entrepreneurs with the mission of regenerating wealth, promoting entrepreneurship and fostering innovation.
My guests today are two of CRF’s General Partners, Charlie Brock and Jack Studer, who will share their stories of entrepreneurship and their vision for CRF.
Charlie is currently a Director at FourBridges Capital Advisors, a middle-market investment bank based in Chattanooga. He also serves as a director and organizer of Capital Mark Bank & Trust. Previously, he was with Brock Candy Company and in 1998, he helped start Foxmark Media, growing it into one of the nation’s leading mall advertising companies. As the company’s CEO and largest shareholder, he structured two rounds of private financing before selling the company in 2006 to Australian based EYE Corp.
Jack Studer attended Princeton where he studied Operations Research and Financial Engineering. He then worked for Credit Suisse in their Investment Banking Division, working primarily on M&A and IPO transactions for Clients such as Google, Omniture, Blackstone, Oracle and HP. He then co-founded DraftSpace, a document security SaaS company in London which was later sold to the Copal Group.