I raised a small community angel round a few months ago for Learning Loop. The minimum check size that I was open to was US$2k.
It was really helpful, and I'd like to recommend it to other founders who are raising it. Seems common ish or at least not unknown in San Francisco but semi-unknown in Southeast Asia still
Writing this post because I saw a tweet by Elizabeth Yin from Hustle Fund the other day where she suggested something similar so it kinda gave me the confidence/permission to wanna share my experience.
My friends at CoffeeSpace did a community round, too. I do think it's a fair option worth considering.
I had 3 types of people who reached out:
1. they've made at least 1 angel investment before and have a high tolerance for risk
2. they'd never made an angel investment before but understood the risk of this asset class
3. they'd never made an angel investment and they didn't know how risky this was I jumped on a call with everyone who reached out to invest, and there were 7 or 8 people in the 3rd group that I had to thank and convince not to invest (by just explaining how risky this asset class is).
They all appreciated it and understood. Took money from anyone in group 1 and 2.
We're also putting together a guide on community rounds. Let me know if you'd like to contribute.
