Founders FAQ with Ziad H. MoukheiberZiad
Founders FAQ with Ziad H. Moukheiber
What is Boston Harbor Angels?
Boston Harbor Angels is an angel investing group founded in 2005. The group is one of the most successful angel groups in the country. The members of Boston Harbor Angels are very successful professionals with deep industry and angel investing expertise.
What industry does the group invest in?
Even though we are very well known for life science investments because of our location in Boston, the group also invests in IT, consumer products and other industries. The underlying thread is around great founders.
What is your understanding of success for an Angel Group or Angel Investor?
The main element to assess success in angel investing are exits or liquidity events by the startups members invest in. The other elements are educational: helping entrepreneurs and being part of a community with long lasting friendships
Does the group have any preferences in the deal structures?
In general, we prefer equity investments. But we do invest in convertible notes and sometimes SAFEs (which are a simplified form of convertible notes).
Do you lead deals or follow?
Boston Harbor Angels is known to lead deals, but we also follow and syndicate.
Does the group have a preference for the stage of a deal?
The group tends to prefer early stage deals, but we have invested in later stage rounds when appropriate and if members feel that a deal is de-risked and fits their individual portfolio strategy.
Do you invest as a group or as individuals?
The group is built around the idea that every member makes their own decision and invests individually. We have vehicles we can use when we need to invest as one entity.
What makes a great founder?
We have borrowed a list of 5 criteria to summarize what makes a great founder: the “5Hs”.
Humble, Honest, Hard Working, Hungry and a Sense of Humor. The best founders are the ones who execute on their plan and understand the relationship with investors.
We have had multiple BHA-backed successful founders who come back to the group for funding their new companies.
How many deals do you receive per month and how do you screen them?
We receive well over a hundred deals per month, and in addition, we review many referrals from around the country and Canada. Our screening team and screening committee selects the ones to bring to the group. The four companies we bring to the Investor Meeting are decided by a vote, so no one person can influence the decision.
How many receive funding?
It varies each year, and we don’t have a set goal. If members don’t see companies they like, they don’t invest. It is up to the founders to make their case.
Do you have any recommendations for Founders going through fundraising?
Fundraising is very hard and takes a long time. Founders need to understand the process and the mechanics of fundraising as well as the investors. Founders should always remember that they are building a business, not just fundraising.
What is the best way to reach Boston Harbor ASngels to be considered for funding?
The easiest way is to apply through our web site:
Ideally it is more powerful if a member champions the application.
Founders interested in Boston Harbor Angels should also get to know the group.
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