Angel Group Looks for Wins by Setting Its Sights a Little Later

October 13, 2009 at 3:35 pm PT

Most angel investors dream of home-run exits, funneling seed capital into young start-ups with hopes they’ll turn into Google (GOOG), YouTube or even Mint.com. But the Band of Angels, an angel group flush with its third fund, believes there’s mighty value in later-stage companies and smaller acquisition prices.

“Sure, everyone is talking about the sale of Mint.com,” said Ian Sobieski, a founder and managing director of Band of Angels, referring to Mint Software Inc.’s recent $170 million sale to Intuit Inc. (INTU) “But if my buddy can sell his company for $12 million, $15 million without too much dilution, that’s pretty good.”

The Band of Angels, founded in 1994, has traditionally invested in start-up seed and Series A rounds through a $50 million vintage 1999 fund and a roughly $6 million fund raised in 2004.

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Tagged with: acquisition, angel investors, Band of Angels, digital, economy, frontpage, Google, Ian Sobieski, Internet, Intuit Inc., Jonathan Matsey, Mint Software, Mint.com, software, The Wall Street Journal, Venture Capital Dispatch, YouTube

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