2024 NYA MEMBER RESOLUTIONS
By Cindy Cook
At this time of year it’s common for folks to think about what they want to do differently for the coming year. With that in mind we asked our members to offer their thoughts on angel investing in 2024.
Many reflected on the importance of evaluating the management team. Often it is said that you bet on the jockey and not the horse.
Elaine Glide said, “Focus on the quality of the management team, the most important variable.”
John Tiktinsky noted, “Be disciplined in investing in companies with strong founders.”
Jim Lesie commented ,“Be active as possible with NYA, including meeting the CEO events and other mentoring opportunities for CEOs and founders.”
Another theme was a desire to attend more sessions in person and greater involvement in NYA:
Michael Gibbons said, “Attend whenever possible and look to meet and create rapport with more members of NYA.”
Michael Hutner noted that he wants to spend “more in person time at the amazing NYA in office meetings.”
Stephen Snyder said, “Be more active… and in person!!!”
James Dooley added, “Learn as much as possible about angel investing with focus on creating a methodology for best analyzing investment proposals.”
Tom Blum wanted to “Get more involved with NYA. What a great group this is!”
Another area that members want to focus on is spending more time with founders in their portfolios at current investments.
Craig Frischling said, “I will spend more time with entrepreneurs at my current investments to help them succeed.”
Richard Davies noted that he also will “spend more time with my existing investments.”
Members reflected on their investment focus for 2024:
Dan Zitting shared, “As primarily a software investor, be open to change. The business of SaaS will change, and businesses will have to be better than the past decade, but there is much new that is exciting and will drive value-gen AI, higher operating margins, reduced dependence on large cloud providers, etc.”
Etienne Fretault stated, “Perfect times to continue actively investing amid more reasonable valuations, tougher startup founders, constant flow of innovations and new technologies!”
Tom Hirschfeld committed to “Focus on companies with uniquely compelling solutions to serious business and social problems.”
Michael Reeber said, “Focus my investments on environmentally positive impactful companies.”
Dr. Kiran Bhirangi wants to “Invest in non-medical companies.”
And overall thoughts on the ecosystem:
Seth Masters stated, “As we enter 2024, sentiment in the early stage ecosystem is poor due to fewer and smaller exits alongside perceived greater risks. My resolution is to keep in mind that the best angel deals have often come in troubled times like now.”
So is 2024 a good time to ramp up angel investing? Umesh Padvel of Thomfest Ventures believes “the best companies with strong founders and differentiated business models will have no problem attracting capital at premium valuations.” Tech Crunch notes that in a survey they conducted that some investors think exits will return in full force in 2024, but others think the industry will not see meaningful liquidity until 2025. With so many differing opinions, the bottom line is that angel investors need to chart their own course, seeking out great founders with compelling business ideas, at the right valuations for outsized returns in the future.
