ANGEL INVESTING STARTER KIT
Write your first check with confidence.
The basics, how we pick deals, and how to start.
01 · THE BASICS
What is angel investing?
You put a small check into a startup early. If it becomes a giant, your slice grows with it.
THEN
$5,000
Into UberCab’s first round
→
About 10 years
AT THE IPO
$25,000,000
What that same check was worth
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01 · THE BASICS
Most startups fail. A few pay for everything.
Lose the check
Get some or all back
Big winner that covers the rest
So spread small checks across many companies. You need to be in the room when a winner shows up.
Illustration of 20 typical bets, not real portfolio data
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01 · THE BASICS
Is angel investing right for me?
You can lose it all and be fine
Only invest money you could never see again.
You can set aside $5,000 to $10,000 a year
Enough for several small checks every year.
You can wait a decade
Startup money is locked up. No selling on a whim.
You want to learn from founders
The best part is who you meet, and what you learn from them.
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02 · HOW WE PICK DEALS
Hustle Fund sees 1,000+ deals a month. We invest in only a few.
Here’s what we look for.
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02 · HOW WE PICK DEALS
Five things we look for
Team
You have so little to go on. Do you believe this team can get it done?
Solution
What’s the business model, and how is the product different from what’s out there?
Market
How many people actually have this problem? A big group, or more niche?
Execution
Customer acquisition, growth metrics, and how quickly the founders move.
Fundraise-ability
Can the founders run their next fundraising round well?
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03 · DEAL TERMS
Four key terms to know
SAFE
A promise of future shares. Most pre-seed deals use one.
Valuation cap
The highest price your SAFE converts at. Lower cap, bigger slice.
Pre-seed vs. seed
Pre-seed: early product, few customers. Seed: real customers, early revenue.
SPV
One small fund that pools all angel checks into a single deal. You sign once. The founder gets one line on their cap table.
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04 · GETTING STARTED
Start small. Go wide. Stay curious.
SMALL CHECKS
$1,000 to $5,000 per company
Plenty to learn the ropes without betting the house.
MANY BETS
30+ companies over a few years
Winners are rare. More shots, better odds.
YOUR EDGE
Back what you know
Your job and your network help you judge, and help founders.
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04 · GETTING STARTED
Come for the deals. Stay for the community.
Start angel investing with the experts from Hustle Fund.
INVEST
3 to 5
deals a month
Picked from 1,000+ Hustle Fund reviews, pre-seed to pre-IPO.
CONNECT
2,500+
investors in 50+ countries
Quarterly meetups in 25+ cities. Get paired with members worth knowing.
LEARN
150+
workshops
From your first check to building your own fund. Taught by investors who have written 500+ checks.
$1,000 typical check. No obligation to invest. Try it free for 14 days.
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04 · GETTING STARTED
Meet the Squad
A few of the 2,500+ investors you’ll be learning and investing alongside.
Haley Bryant
Partner, Hustle Fund
Ex-COO, Animalz
Barron Ernst
Ex-VP of Product, Snap
Ex-Booking.com
Joy Patel
Founder, 2 exits
Previously at Google
Stephanie Wong
Global Lead, Developer Programs, Google
Melissa Perri
Founder & CEO, Product Institute
Author, Escaping the Build Trap
Andy Louis-Charles
Managing Partner, Ranchos Ventures
Ex-Chief Strategy Officer, Custom Ink
Vijen Patel
Founding Partner, The 81 Collection
Founder, Tide Cleaners (acquired by P&G)
Sharmistha Singh
AI Research, Google
Ex-Product Director, Meta
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Learn.
Invest.
Network.
No a-holes allowed.
or take the tour at demo.angelsquad.co
This material is for educational purposes only and is not investment, legal or tax advice. Startup investing is high risk, and you can lose your entire investment.