Pasadena, California (February 23, 2017) – The Pasadena Angels (PA) today announced the fourth investment from their PA Fund 1 (The Fund). The Fund invested an additional $100K in Repurpose, a Los Angeles based consumer products company that makes plant based, 100% compostable tableware products. Repurpose is now distributed in over 4,000 stores nationwide including Safeway, Whole Foods, Target, Albertsons, Target, and Wegmans. The Pasadena Angels have previously invested $750K in Repurpose. This additional investment from The Fund will allow Repurpose to expand their product offering in the retail space and support their rapid growth in mainstream and mass retail. Repurpose is also a Los Angeles Cleantech Incubator (LACI) company, one of four LACI...
Richard Chino is passionate about investing in the business environment. In addition to his membership with the Pasadena Angels, Richard has been serving on the Board of ShipHawk, StaffRanker, and C2FO, and is a member of the Advisory Board of Chippmunk.
Today, Richard shares his views on how the Pasadena Angels fit in today’s competitive funding landscape.
Q, With so many options for today’s entrepreneur seeking funds – accelerators, incubators, super angels, crowdfunding – how do you see the Pasadena Angels fitting in?
RC: Often, I see us as complementary components of an investment round. We will rarely —almost never — say, “Okay, we love the company and we’re going to take the whole round, and no one else comes in.”
Having started two companies and been on the boards of several more, I have some first hand insights to what work and what doesn’t for early stage companies. While the following are my top four, there are certainly many others. And none of these are truly unique to me.
Similarly, there are always examples of companies who’ve done just the opposite and yet prospered immensely.
a) Amazon losing $7 on each book and making it up in volume,
b) Twitter not needing revenue and
c) Zenga raising money when its not needed.
So without further adieu, here’s what I look for as best practices within an early stage company:
Ideas are easy, Implementations are hard
While its imperative that companies be able to pivot based on customer feedback (see bullet...