Q1 2023

A New Reality…

Greetings fellow CAV Angels –

As I write this on the heels of Silicon Valley Bank’s collapse, many questions about the future of a large component of the capital stack are being raised. I’m reminded of how shocks to the system like this are sometimes necessary to reemphasize the important role we play in that capital stack for high-growth companies. Angel investors– outside of friends and family (and fools!) –take the biggest risks at the earliest stages in order to help startups seek that ever-elusive scale. As investors at this stage, we see the good, the bad, and the ugly of our companies up close and personal, and yet we still commit to being the springboard for a founder’s growth plans. And when something like SVB happens, we often serve as the shoulders that the founders we’re investing in lean on.