Number of angel investors in Silicon Valley balloon with wealth creation

Young entrepreneurs are taking advantage of all this venture capital but there are downsides too

New York

SHORTLY after presenting her startup to potential investors at a conference, Nancy Hua was bombarded by eager suitors. A little more than 48 hours later, the Silicon Valley entrepreneur had amassed about US$2 million from wealthy individuals known as angel investors.

The total number of angels that Ms Hua raised money from: 21. And she could have gotten more individuals if she had not cut them off.

"Thirty seconds into my pitch, three people emailed me saying they wanted to invest in my company," Ms Hua, 29, said of the experience raising money for her startup, Apptimize, for which she announced the funding last year. "We had dozens of people whose money we turned down."

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