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How Many Angels is Too Many? It Depends on the Founders

TechCrunch

Yesterday, the New York Times published a smart landscape piece about the growing ubiquity of angel investing in Silicon Valley, where everyone with money wants to pour at least some of it into a startup – preferably one that has already received the blessing of a better-known investor or ten.

In fact, the crux of the piece was whether startups are now accepting checks from too many individual investors at once. Among the downsides: potential information leaks, the lack of an advocate when things go south, and the burden of having many more people to manage.

One interesting distinction the Times story doesn’t touch on – one that impacts the broader question of how many angels is too many — comes down to a startup’s founders.

Not everyone needs – or wants — the handholding that may come with a select few seasoned investors. Some are reluctant to empower a core group…

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