Knox Massey was kind enough to invite me down to last night’s meeting of the Atlanta Technology Angels. While I know many of the members individually, this was the first time I had actually attended one of their monthly meetings.
In keeping with the confidential setting of the meeting, I don’t want to reveal anything about the actual companies, but I can make some generalizations.
The format was very interesting. They had two companies do their pitch. One company was an ATDC company, the other was commercialized technology coming out of Georgia Tech. There were a few questions asked of each entrepreneur. Afterwards, the entrepreneurs left the room and the 20-25 angels in the room had an open discussion about what they thought of the deal. There were some really interesting exchanges of information, and I really like the format they used.
The diversity of backgrounds in the room made it so that there were “logical subject matter experts” on hand. The rest of the group relied on these individuals to give legitimacy to (or shoot holes in) the deal. Very nice.
For those interested, they were discussing 500K-$1M deals. After the discussion, someone was appointed to lead a “due diligence group,” I would assume to go off and meet with the company, and put together a more formal assessment of the company, market, technology, team, etc.
I also learned that Knox will soon be joining the blogosphere. I think this is a very welcome addition to the landscape here. I wish we could get more of the Atlanta venture folks blogging and exchanging ideas.
Afterwards, I had a great chat over dinner with Jeff Haynie. Bright guy – I wish I had met him years ago, but certainly glad we’re connected now. I love people that are brimming with ideas. It’s great to feed off that energy.