Think you have to be Bill Gates or Steve Jobs to raise private equity?Listen to Terry Cross, founding member of the Michigan Venture Capital Association and the Great Lakes Angels, and first round investor in companies including Google, PayPal and Inktomi, share his top criteria for investing.
Top 10 Industries Funded by Angels
(An excerpt from THE MOMMY MANIFESTO)
1. Consumer products and services—13.3 percent
2. Media and entertainment—12.9 percent
3. Software—12.7 percent
4. Business products and services—7.8 percent
5. IT Services—5.3 percent
6. Industrial/energy—4.8 percent
7. Medical devices and equipment—4.3 percent
8. Retailing/distribution—4.2 percent
9. Health care services—3.8 percent
10. Other—17.1 percent
Niche industries include biotechnology, 3.6 percent; financial services, 3.5 percent; telecommunications, 3.2 percent; electronics, 1.6 percent; computers and peripherals, 0.9 percent; networking and equipment, 0.5 percent; and semiconductors, 0.5 percent.