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The Early Money
Angel investors tread where venture capitalists won't; here's how to find yours
Email: Ted Agres - tagres@the-scientist.com The Scientist 2005, 19(20):36
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When Todd Zion began looking for funds to launch Smart-Cells, a new company developing self-regulating insulin-delivery systems for patients with diabetes, he needed to raise just shy of $1.25 million, a number that "doesn't even show up on the radar screens of big venture capital firms," he says. So he decided to forgo venture capital (VC) and instead sought out "angel" investors, wealthy individuals willing to entrust their money and share their hard-earned expertise with entrepreneurs.
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