Last month, I moderated a panel at the third annual Phoenix Startup Week. The event has exploded since 2015 and the session on raising capital was packed. I wrote on the challenges with fundraising in Arizona here based on my own 2013 experience. What a difference three years has made! Arizona founders are now benefiting from an evolved and mature funding ecosystem.
My panelists included angels and venture capitalists:
- Jim Goulka is an angel investor and leads Arizona’s largest angel group, Arizona Tech Investors (ATI).
- Nathan Mortensen is the Principal of Tallwave Capital (TC).
- Scott Wallace is an active member of the Arizona Founders Fund (AFF).
Evidence of capital maturity in Arizona:
- ATI just achieved 50 portfolio companies at over $13M investment.
- TC invested in 14 companies since 2014 with a fund of $13.15M.
- AFF started in late 2016 and is doing one deal per month for its $5M fund, with two already closed.
The panelists provided some tips for founders around how to present a compelling story and how to work with investors. While these investors are based in Arizona, the advice they provided is universal.