Getting a business angle, an entrepreneur who provides your start-up with first capital, is hard enough in China, tells William Bao Bean of SingTel Innov8 in Tech in Asia. You should avoid especially the famous ones.
Tech in Asia:
Busy angels aren’t cool: Interestingly, William Bao Bean from SingTel Innov8 shared that the most famous angels in China aren’t the best investors to go with. (He didn’t mention names, though.) They usually have too many other commitments, generally having invested in over 40 to 50 startups. They have little time to mentor. William also noted that these “famous angels” in China usually take a large equity at a very small sum of money, which usually leaves the founders very little equity to stay motivated by the time they exit after raising several rounds of funding. So, yes, take note of busy angels. Even if they are famous, it could boil down to nothing if they are too busy for you.
More tips for start-ups in Tech in Asia.
William Bao Bean is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.