Angel Groups Finding Syndication Can Give Them Big Impact
Tom Sullivan knew TrustEgg was going to be big the first time he heard the pitch. It was a startup and therefore untested, but it had the potential to upend the way families provide for their children.
The idea was this: Create a website that would allow parents to collect money from friends and family members and create a trust fund for their children. It would lower the cost for consumers, take banks and lawyers out of the equation and still invest those trust fund dollars in a top-notch Vanguard fund.
But Sullivan’s early-stage venture fund, Innovation Garden, couldn’t afford to finance TrustEgg all on its own. He needed help, so he called a few angels.
Lucky for him, angels work well with others.[more]