What Winning Angels do…


Although written in 2001, this hard-back book is an excellent introduction to investing in businesses for a return. It covers the 7 fundamentals of early stage investing: sourcing, evaluating, valuing, structuring, negotiating, supporting and harvesting. It is almost a series of lists interspersed with anecdotes from Business Angels that David Amis and Howard Stevenson have interviewed from around the world. This format reduces the readability but increases the number of ideas and concepts that can be covered in its 370 pages. Indeed many issues are discussed but it is up to the reader to decide which works best for them.

While you could argue that a book written as the dot-com boom collapsed would not give good investment advice for today; I feel that the reverse is true. The basic tenants of decision making still hold true but can be modified with the benefit of hind-sight.

Winning Angels is a book that should be on the desk of anyone who invests time and money in companies and expects their return on investment over a year later.

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