Angels Beacon by TBHA

Angels Beacon by TBHA

By The Brutally Honest AngelBusinessEntrepreneurship
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Angels Beacon by TBHA episodes

  • Fewer, larger cheques and what they ask of a new angel

    Angel groups are writing larger cheques into fewer companies, according to the Angel Capital Association's 2026 Angel Funders Report. This episode of Angels Beacon reads the report's four main findings for a new angel writing their first cheques.

    In this episode

    • A recovery built on larger cheques: ACA-reported angel investment rose 12% to $491.3 million in 2025
    • Where the money went: life sciences took nearly 47% of reported angel investment dollars, and nearly two-thirds of groups made an AI investment
    • Follow-on money, pro rata rights and the optional side letter to Y Combinator's SAFE
    • The seat at the table: board participation is declining, and what tends to earn one
    • Sources

      • Angel Capital Association, 2026 Angel Funders Report press release (13 July 2026)
      • Harbison, Weissman and Giles, the decline in angel board representation (ACA blog, 29 January 2026)
      • Y Combinator, SAFE documents and user guide
      • Angels Beacon is produced by The Brutally Honest Angel for new and early angel investors. Educational only. Not investment advice.

        13 min
      • What happens after you wire the money
        Section 1: How the relationship with the founder shifts after you invest � what changes, what should stay the same, and what angels get wrong in the first 90 days. Section 2: Getting information without becoming a burden � the right cadence for updates, how to ask useful questions, and what silence from a founder usually means. Section 3: Receiving bad news � how to react when things go wrong, what to say and what not to say, and when to push versus when to support. Section 4: Knowing when a company is done � signals that a startup will not recover, how to handle a write-off emotionally and practically, and what you owe the founder at the end.
        16 min

      About Angels Beacon by TBHA

      From the publisher's feed

      Practical episodes for new and early angel investors on thesis, deal selection and portfolio discipline. Educational only. Not investment advice.