“Risk averse. Conservative.… Out of touch.” They’re all complaints I’ve heard from Portland startup founders when describing the earliest stages of raising capital around these parts. But I always assumed that Seattle — with its extensive tech presence of major headquarters and massive regional offices — was a better environment. Apparently, it’s not. Those quoted comments are Seattle startup founders describing their Angel investment community.
In a February survey of 70 local technology startup founders who’ve raised capital from angels, the message was clear: angels need to be more visible, faster, and more willing to swing for the fences, or they risk losing the best opportunities in town to the increasingly active local and Bay Area seed and pre-seed funds.…
But the gripes of founders are not surprising when, in an era where Seattle-based startups become unicorns on a regular basis, many Seattle angels are still nervous about SAFE notes and Silicon Valley co-investors.
Said one founder: “I’ve quit trying to raise $$$ here. It’s the land of anti-risk and vision mediocrity.”
Not that misery loves company or anything. But if you’re an early stage startup founder, it’s probably worth reading this perspective on the early stage investment opportunities in Seattle right now.
For more, visit GeekWire.