Yes, I agree with the other answers. It’s not so much that angel investors prefer to invest in pre-revenue rather than early revenue, but investors do want to be sure that they are getting something for their time and money. Some investors are attracted to lower risks with a smaller pay off while others are okay with more risk if it means that they will end up with a bigger share.
It really just comes down to the personality and preference of the investor and what they like to do. There’s definitely many investors that are more than happy to invest in a early start-up if they feel confident in that company’s future success. Of course, that will rely heavily on how much organization you have in the company and how you pitch it to the investor.
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