BROADCASTS.com

Phil Nadel. He\u2019s the co-founder and managing director of Barbara Corcoran Venture Partners, one of the largest and most active AngelList syndicates where investors can invest alongside him and Barbara on the same terms in promising high growth startups.

Famous Five:

• Favorite Book? \u2013 The Lean Startup
• What CEO do you follow? \u2013 Elon Musk
• Favorite online tool? \u2014 Laughly
• How many hours of sleep do you get?\u2014 7.5
• If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cSavor the moment, be in the moment\u201d

\xa0

Time Stamped Show Notes:

• 00:55 \u2013 Nathan introduces Phil to the show
• 01:24 \u2013 Barbara and Phil believe in the syndicate model
  • 01:32 \u2013 It is a great opportunity for investors who would like to invest but don\u2019t have a lot of money to put into each deal
• 01:49 \u2013 Barbara Corcoran Venture Partners on AngelList
• 02:08 \u2013 The syndicate was launched 3 years ago
  • 02:16 \u2013 They have syndicated 38 deals
• 02:34 \u2013 Barn and Willow is a company they\u2019ve recently syndicated
• 02:51 \u2013 Barn and Willow deal with window treatments
  • 03:18 \u2013 They have a direct manufacturing supply chain
  • 03:24 \u2013 It\u2019s an innovative company
• 03:45 \u2013 The companies that Barbara invests on Shark Tank are separate from the companies in the syndicate
• 04:05 \u2013 The value of doing the syndicate is the deal flow that Barbara gets from her exposure in Shark Tank
• 04:20 \u2013 Each of the syndicate backers have the option to opt in or opt out of any investments
• 04:33 \u2013 The most likely exit scenario is an acquisition and that\u2019s how an investor makes money
  • 04:47 \u2013 IPO is also another route
• 04:53 \u2013 There was no exit yet from the syndicate portfolio
• 05:38 \u2013 There is paperwork in backing a syndicate
• 05:45 \u2013 The AngelList platform is handling all the investor details
• 05:51 \u2013 The structure of the deal can have a few different formats
• 06:04 \u2013 It\u2019s either a convertible note that converts into equity or straight equity
• 06:30 \u2013 All backers are combined into 1 entity
• 06:56 \u2013 The LLC is managed by an independent third party company called Assure Fund Management
  • 07:05 \u2013 Assure will consult the syndicate if there will be a major decision
• 07:40 \u2013 The AngelList is managing the risks for the syndicate
• 08:00 \u2013 The syndicate has put in $7.5M
• 08:28 \u2013 The syndicate is very true to Barbara\u2019s mission
• 08:44 \u2013 Barbara wants people to invest with her, share their ideas with her, and bring their knowledge
• 08:56 \u2013 \u201cOur backers are fantastic in terms of their networks\u201d
• 09:38 \u2013 With a VC, what you have is strictly financial investors
• 10:40 \u2013 People love Barbara
• 11:15 \u2013 The deals are only available to accredited investors
  • 11:23 \u2013 To be an accredited investor, you need to meet some of the criteria including net worth or income
  • 12:00 \u2013 The syndicate is very clear that there is a chance of losing money for each investment
• 12:06 \u2013 The idea is to build a portfolio
• 12:37 \u2013 Phil has been to different platforms like FundersClub and OurCrowd
• 12:53 \u2013 The reason why Phil and Barbara chose AngelList
• 13:35 \u2013 The picture behind Phil was a picture frame from one of their portfolio companies called Meural
  • 13:54 \u2013 They have thousands of art pieces from different museums around the world
  • 14:32 \u2013 It retails from $600
• 15:27 \u2013 The syndicate does equity and note and only invests in post-revenue companies
  • 15:43 \u2013 At least $15-20K a month in revenue
  • 15:52 \u2013 \u201cWe are focused on companies that are capital efficient\u201d
• 17:50 \u2013 The Famous Five

\xa0

3 Key Points:

1. Syndicates is a great option for small investors and it will help them get into the investing game.
2. Investors need to be responsible with their investments\u2014meaning research the deal and own their decisions and the consequences of saying yea or nay.
3. Savor the moments in life and be IN the moment.

\xa0

Resources Mentioned:

• The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Show Notes provided by Mallard Creatives