Anatomy of Angel investing. I sold 50% of iROKO for £500

Angel investors don’t really exist in their usual format in Nigeria. This will change in the very near future but today, angels don’t really exist. And by angel I mean wealthy private individuals who are willing (and able) to depart with $1–100,000 for small stakes in high growth high risk ventures.
Usually, angels don’t require a thousand meetings and 2 inch pitch decks to make investment decisions, they have an area of core competence, (mine being consumer Internet — advertising and subscription — freemium models) and just fund. Angels can help with startup strategy, hiring, future fund raising, building teams and early business development efforts. The more savvy the angel, the more valuable they can invariably become in coaching young, usually first time founders and help to focus them on the actual important drivers of their business. Without the angel networks which exist in any developed market, US, UK, Germany etc. most of the Internet companies we have today (Google, Face...