Chasing the New Angel Investors
Budding entrepreneur Eric Bolden had never met an angel investor until he tried pitching a business idea to a few of them.
Last week, the retired prison guard showed up at a midtown New York loft for an event that connects entrepreneurs with investors to see whether he might get, say, $50,000, from the angels — wealthy individuals who provide capital to start-ups with the potential for fast growth.
Mr. Bolden, dressed in a suit and tie, took to the microphone for a two-minute pitch, clutching his crumpled notes of the key selling points for his idea — a police handgun identification signal, complete with a flashing alert. The proposed device is meant to protect plain-clothes officers from friendly fire.