The Pasadena Angels are one of the most active, efficient member-led angel groups on the planet, and Marcus Filipovich is a big part of the reason why. When I learned that Marcus and the PA leadership have motivated more than 100 group members to carve time out of their busy Los Angelino lives to find dealflow, rate plans, and write checks, my interest was peaked.
Being a huge USC fan, I also wanted to know which side of the USC-UCLA rivalry he stood. :)
EnablingAngels: How does the Pasadena Angels maintain such a high activity rate with so many members?
Marcus Filipovich: With over 100 members it has taken concerted effort by our Chairman and leadership team to get and keep people involved. We begin by setting the expectation for a high level of participation from the first contact with a prospective member. Before membership is offered we describe the expected level of financial and time commitment and have the prospect attend several meetings to get a good understanding of what is required of them. We are a member-led group. We utilize all the members' diverse backgrounds to generate leads, perform screening and due diligence, and to negotiate terms, but each member makes their own investment decision and writes their own check. That decision is a great motivator to get involved. Our Founders created a culture in which any member is welcome to step forward and take on a leadership role, whether it's pre-screening an opportunity or leading a due diligence team. This has created a feeling of "ownership" and has drawn members into great activity. Also our process of open discussion at all our four regular Wednesday morning meetings a month - one each for Pre-Screening, Screening, Company Pitch, and Due Diligence - welcomes participation, and has built a feeling of camaraderie and mutual respect.
EA: Why are you an angel investor?
MF: From the financial perspective angel investing is, for me, a diversification strategy ...
EA: What’s the best way for an entrepreneur to catch the eye of the Pasadena Angels
MF: First of all fill out the online application completely and make sure your investment opportunity fits the criteria listed on our website ( www.pasadenaangels.com ). If we don't have all the information we won't know how great your idea is! The next step is to get to know a few of us personally. Eventually you'll need at least one angel to really champion your deal. Call your laywer, accountant, banker, etc., ask if they know any of the angels and ask for an introduction. Check out events held by Pasadena Entretec ( www.pasadenaentretec.com ) or the LA County Business Technology Center ( www.labtc.org ) which are well attended by Pasadena Angel members. The earlier you get in touch with us the better. We even have a mentoring program ( http://www.pasadenaangels.com/learnfromleader.php ) for companies that might not be ready for funding yet but could really use some help fine tuning that business plan.
EA: USC or UCLA?
MF: Since I hail from MIT I'm glad you didn't ask me to comment on CalTech! I've worked on deals that came out of UCLA and USC and both schools are really top notch.
EA: Thanks, Marcus!
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