In this episode, I talk with Ben Pidgeon, Executive Director of Vision Tech Partners, the largest angel investor network in Central Indiana. In the last year, (At the time of recording) they’ve deployed $2.6 million across 8 transactions, with check sizes getting bigger. The network consists of approximately 110 investors that get to decide if they would like to invest in an opportunity, typically focused on life science and technology, with 11-30 angels participating per round.
Ben explains the investment process starting with a screening of about 300 companies per year. At any given time, there are about 20-30 companies on his agenda. The top six companies are then invited to a screening committee meeting, where they give a 20-minute pitch. At the end of that meeting, the investors rank the best opportunity, and that company gets an invitation to go on a roadshow across the state. From there, Vision Tech Partners are able to get a soft level interest amount, and the company enters the diligence phase where research and interviews are conducted. That information is then provided to investors and they then invest in the company.
Topics In This Episode
Information that is necessary for a pitch meeting
Difference between a top-down and bottom-up approach for valuation
How to show a competitive advantage and market differentiation
Most awkward moment in a pitch
Most impressive moment in a pitch
Success rate of companies as they move through the different steps of the investment process from screening to investment
Red flags of valuation versus revenue amounts
The Three H’s of building a team