This past Saturday at StartUpNV, we hosted the AngelNV finale, where investors came together to invest in three Nevada-based companies. Regara won first place with a $200,000 investment, while RevReply and Amplibotics each received $100,000. Those investments are also matched 1:1 through Nevada’s SSBCI program, bringing the total impact to $800,000 across the three companies.
This was my third time participating in the AngelNV due diligence process, and every time I go through it, I learn something new. This was not a simple pitch competition.
Due diligence is the process to break the company apart piece by piece and investigate each piece in the bigger picture. You look at the market, the product, the team, the financials, the risks, the competition, and the assumptions behind the business. You ask what has to be true for this company to win. You also ask what could go wrong.
This year, I was on the Regara due diligence team, which made the finale even more exciting. Watching a company you spent time studying win the investment is a different feeling. It makes the work feel real. It is not just a report or a classroom exercise. It is capital going into a Nevada company that now has more room to grow.
What I like most about AngelNV is that it helps founders access capital, and it teaches more people how early-stage investing actually works.
Nevada’s startup ecosystem is growing, events like this show the momentum. The companies are getting stronger, the investors are getting more educated, and the network is becoming more connected.
If you are interested in investing in early-stage companies, AngelNV will educate you through the process. The Nevada Certified Investor law now allows more Nevadans than ever to invest in Nevada early-stage startups. Take a look at AngelNV.com
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Hey Shyan this is awesome!
I’ve actually been heavily involved in the past few years with a couple of entrepreneurship centers in town and the annual startup competition down in Reno and loved this. Ive helped organize, support and mentor entrepreneurs, etc. And I know firsthand the effort it takes to analyze companies beyond the pitch stage. Ive also participate in my fair share of entrepreneurship competitions
Most important thing that came from this for me was your explanation of the diligence side, which is where things get dicey. You really get a much better understanding of what it takes to invest in or otherwise help support an early-stage company after diving into the market, the team, financials, assumptions and potential pitfalls that you can see coming. There is so many small details they have to pay strong attention to.
I’ve not gotten involved with AngelNV personally, but would love to check it out some time, it’s a great opportunity for Nevada founders and the entrepreneurial scene in NV in general, which I’d personally want to do a lot more.