Chicago Angel Group Investor Mandate: Seed, Series A and B2B SaaS
Chicago Based Angel Investor Association Head & Private Investor Mandate Interview
Founders raising seed or Series A money, and investors who want to see how a Chicago angel group describes its mandate and what it looks for.
Said on the call
"patents can still be useful, but they should be part of an overall strategy that also includes trade secrets."
"getting that market traction, getting good partners rather than trying to do all your sales yourself, is really key to getting going and developing a real stronghold."
"we really look for companies that have developed some channel partnerships and some ways of getting into the marketplace quickly."
The short version
Suzanne runs an angel group in Chicago and also invests on her own. The group mostly backs seed and Series A companies from across the United States, with a few from Canada and Australia. At least half of the companies come from the greater Midwest, which she says reflects where the group has connections and deal flow rather than a regional preference.
About a quarter of the investments are in medical devices, biotech, platform technologies and healthcare IT. The group also backs AI, deep learning, education technology, industrial innovation, agricultural innovation and advanced manufacturing. Suzanne names B2B SaaS as the type of company she would most like five more of. She also shares three lessons on patents, channel partners and wide reading, drawn from her years of investing.
Facts and figures
- At least half of the angel group's portfolio companies are from the greater Midwest region.
- About a quarter of the group's investments are in medical devices, biotech, platform technologies and healthcare IT.
- Suzanne's three lessons cover patents as part of a strategy with trade secrets, channel partnerships for traction, and reading from a wide variety of sources.
Sources
From Richard C. Wilson's Centimillionaire Strategies YouTube channel: Chicago Based Angel Investor Association Head & Private Investor Mandate Interview. Quotes come from the video captions, lightly edited for readability. Figures are the speakers' own estimates and experience.
General education only. Not legal, tax or investment advice.
Talk to a securities attorney to explore options around patent strategy, trade secret protection and investor eligibility rules. Do not use AI to write your own legal agreements.
The 5 big lessons
- Deal flow shapes geography. Suzanne says at least half of the group's companies are in the Midwest. She links this to where the group has connections and deal flow, not to a set regional preference.
- B2B SaaS is the favorite. When asked which type of company she wishes she could find five more of, Suzanne answered B2B SaaS. Richard C. Wilson added that a subscription base can help keep revenue steadier when something goes wrong.
- Patents are only one tool. Suzanne notes that patents are only one tool among several. She described a portfolio company in an expensive patent lawsuit that an earlier-stage company could not have survived. The group now prefers patents as part of a wider strategy that includes trade secrets.
- Channel partners speed up traction. Suzanne says good partners matter more than trying to do all sales alone. The group looks for companies with channel partnerships and ways to reach the market quickly.
- Read widely to judge pitches. Suzanne reads from a wide variety of sources. This helps her imagine better solutions during a pitch. She also says that in her experience a third iteration of a product often shows a team that has it figured out.
Related questions
- How do angel syndicates work for startups?An angel syndicate is a group of individual investors who back a startup together.
- How do I close a funding round?I close a funding round by focusing on investors who fit the opportunity and moving each interested prospect through clear, consistent follow-up.
- What documents do investors request during due diligence?Prepare a clear, organized package covering your operations, investments, compensation, team, and track record.
Questions about this video
What stages does Suzanne's angel group invest in?
The group is mostly seed and Series A. It takes companies from across the United States, with a few from Canada and Australia.
Which industries does the group back?
About a quarter of investments are in medical devices and healthcare technologies. The group also backs AI, deep learning, education technology, industrial innovation, agricultural innovation and advanced manufacturing.
How can a founder submit a deal to Suzanne?
Richard C. Wilson said listeners can tell the Family Office Club team. The team will help connect them to Suzanne's angel group or to her directly.
Put this into practice with the one-liner builder. See all angel investors resources.
