Current Pre-money Valuations of Pre-revenue Companies

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I just returned from the 2011 Angel Capital Association Summit in Boston, April 4-6, 2011.  It was attended by over 500 angels and associates, including about 60 international angel leaders.  It was an excellent meeting – the best yet of the half-dozen or so US ACA angel Summits to date.

On Wednesday afternoon, I was fortunate to be asked to facilitate a roundtable discussion entitled:  “Valuation of Pre-Revenue Companies and Irrational Exuberance” attended by 50 or so delegates.  We reviewed the following chart based on an informal survey I conducted last summer:

2010 Angel Valuation Survey
(Pre-money Valuation of Pre-revenue Companies)

Angel Group  Pre-moneyValuation*
Tech Coast Angels                 $1.25
Phenomenelle Angels         $1.30
New York Angels                  $1.30
Frontier Angel Fund….

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