Talking Business: Refining Your Investment Thesis

Emmet McGonagle

Jan 18, 2023

Teruel Carrasco - president at Valhalla Private Capital, co-founder of Radar Endeavour Group Inc and CEO of Lending Assist - has outlined the importance of developing an investment thesis when contributing to your local startup ecosystem.


With expertise in improving leadership, team-building, business development and overall strategies within startups and established companies alike, Teruel remarked: “One of the patterns that I've recognized in my years of working with angels is the importance of developing the guideposts and guides as to what constitutes a good investment.”


“That's something that early angel investors struggle with,” he continued, encouraging investors to actively listen for these cues within pitches from startups.


While Teruel noted that the construction of an investment thesis is an “iterative process that takes place over time”, he also maintained that “many early angel investors get intimidated when they hear complex investment thesis from experienced investors or VCs and think that they have to reproduce a model”.


However, he admitted this is an unfair comparison as venture capitalists typically have a team of 20-30 analysts who can give them advice and help them to refine their investment thesis over time.


On the topic, Teruel asked: “Senior angel investors have had hits and misses and kind of refine their thesis over time, so what are those building blocks for a novice?


“Do they need to have it all figured out at the beginning? No, but there are certain things you can look for that start building your investment thesis as you begin your investment journey.”


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our
contact page.

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