We once wrote the story of how technology changed the VC industry — in fact, venture capital was born from the marriage of vision and technology. Yet, even in this age of digital dynamism, some beginner angels have just heard that ChatGPT is "a cool thing" and are still relying only on good old Excel, Gmail, and crystal ball.
The truth is, there's a treasure trove of IT services out there, waiting to transform the way investors operate, supercharging their productivity and precision. You can easily unearth many apps on the web, but here are our favorite basic tools for day-to-day angel workflow.
It's also worth checking out CB Insights and PitchBook (the only downside is the cost). And don't miss our list of 25 European angels and 16 European newsletters to follow.
This one is obvious, but we just want to put it out there: use Google Trends and Google Alerts. These tools are so easy that many investors overlook them.
What else? GitHub, Mattermark, StartEngine, and Tracxn.
By the way, if you like the analytical approach and the open-source tools — you will find this guide to be useful.
Additionally, there are outreach apps to consider like the self-titled Outreach or Clearbit: these AI-powered tools can uncover business contacts and equip you with all the vital details about potential partners. And the network will evolve with a service like Bridge.
As for transcribing meeting notes and analyzing conversations, a handy tool like Fireflies.ai can be a game-changer.
In general, you have plenty of choices here. From super basic services like Trello and Evernote to the VC/PE-focused Savanta Dealflow. By the way, it's possible to streamline your work services with Zapier.
Sure, there are alternatives like LTSE Equity. For some out-of-the-box options, there are apps like Public Comps. It can visualize key business metrics through graphs, which is incredibly valuable during the due diligence process.
SignWell, PandaDoc, HelloSign, and dozens of alternative e-signature apps will also do the job.
So, here are great IT tools for every angel to consider in addition to the obvious tools like Zoom or Google Hangout for online meetings, and, of course, the holy trinity of all investors — X (a.k.a. Twitter), LinkedIn, and Facebook.
If you are ready to dive deeper, explore the selection from Altvia, a US-based tech platform for PE&VC. It spans over 200 apps catering to various needs, ranging from CRM for deal flow management to matchmaking platforms. Or do your own search on VCStack.io, probably the largest directory of tools and resources for venture capitalists.
Of course, all lists will continue to be populated, as tools are constantly emerging — primarily the data-driven kind. They all are poised to significantly enhance and expedite the process of searching and screening startups. In fact, LLM services are already doing it.
To further motivate you to rely on data and technology, consider the following stats:
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