Brian Nichols is the co-founder of Angel Squad, a community where you’ll learn how to angel invest and get a chance to invest as little as $1k into Hustle Fund's top performing early-stage startups

The biggest misconception blocking aspiring angels is believing they need personal founder connections to invest. This was partially true a decade ago. It's largely false today. Modern infrastructure has democratized access to startup investing in ways that make network-dependent investing optional rather than required.

This is how to access startup investing without knowing any founders personally.

The Old Model: Network-Dependent Access

How it used to work: Angels invested in companies founded by people they knew personally or through direct introductions. Deal flow came through existing relationships. No network meant no opportunities.

Why it persisted: Startup investing was information-intensive with high transaction costs. Finding, evaluating, and investing in companies required significant personal effort that only made sense within trusted relationships.

The limitation: This model excluded anyone without existing startup network. Geography, professional background, and social connections determined access more than capital or interest.

Who succeeded: Well-connected individuals in major startup hubs (Silicon Valley, New York, Boston) with professional networks including founders, VCs, and other angels.

As Elizabeth Yin, co-founder and GP of Hustle Fund, explains: "Getting deal flow & education have been the bigger blockers to date" for new investors.

The old model made these blockers nearly insurmountable for those without existing networks.

The New Model: Infrastructure-Enabled Access

How it works now: Communities, platforms, and syndicates provide curated deal flow to members regardless of personal network. Institutional-quality opportunities are accessible to anyone meeting membership criteria.

What changed: Technology reduced transaction costs. Standardized investment structures (SAFEs, SPVs) simplified processes. Professional infrastructure emerged to serve individual investors at scale.

The democratization: Geographic location no longer determines access. Professional background doesn't limit opportunities. Anyone with capital and interest can access quality deals.

Who succeeds now: Disciplined investors who leverage community infrastructure, regardless of existing network or location.

Access Method 1: Angel Investing Communities

How it works: Join community providing curated deal flow alongside education and peer support. Pay membership fee for access to institutional-quality opportunities.

Examples: Angel Squad provides access to Hustle Fund's pipeline of 1,000+ monthly applications. Similar communities exist with varying deal sources and investment approaches.

Advantages:

• Institutional-quality deal sourcing you couldn't replicate individually
• Educational support accelerating learning
• Peer community for discussion and accountability
• Operational infrastructure handling complexity
• Consistent opportunity flow enabling portfolio building

Considerations:

• Membership fees required ($3,500 for Angel Squad lifetime)
• Must engage actively to capture value
• Deal flow quality varies by community

Best for: Investors wanting comprehensive support including education, community, and deal flow in single membership.

As Eric Bahn, co-founder and GP of Hustle Fund, emphasizes: "For beginners, a bigger startup portfolio is better. It helps with diversification and helps you learn and get reps in. Investing requires practice like everything else."

Communities enable the consistent practice required for proper portfolio construction.

Access Method 2: Investment Syndicates

How it works: Experienced lead investors source and evaluate deals, then invite others to co-invest alongside them. Leads take carry (percentage of profits) in exchange for deal access and evaluation.

Advantages:

• Leverage experienced investor's deal sourcing and evaluation
• Follow investors with track records you can assess
• Selective participation (invest only in deals that interest you)

Considerations:

• Carry reduces net returns (typically 20% of profits to lead)
• Quality varies significantly by lead investor
• Less educational support than communities
• Dependent on lead's deal flow consistency

Best for: Investors who want to leverage experienced investor judgment and are comfortable with carry structure.

Access Method 3: Equity Crowdfunding Platforms

How it works: Platforms enable non-accredited investors to invest small amounts in startups. Regulatory frameworks (Reg CF, Reg A+) allow broader participation.

Advantages:

• Lower barriers to entry (smaller minimums, no accreditation required for some)
• Broad access to diverse deals
• Self-directed selection

Considerations:

• Deal quality varies significantly
• Less curation than communities or syndicates
• May have adverse selection (best deals go to VCs, not crowdfunding)
• Less educational support

Best for: Non-accredited investors wanting startup exposure or accredited investors wanting supplementary access.

Why Community Access Often Beats Network Access

Quality comparison: Personal network deals are random quality depending on who you know. Community deals are institutionally curated with consistent quality standards.

Volume comparison: Personal network produces sporadic opportunities. Community provides consistent flow enabling systematic portfolio building.

Diversity comparison: Personal network reflects your existing connections (often narrow). Community exposes you to founders from diverse backgrounds and sectors.

Education comparison: Personal network provides no structured learning. Community includes educational programming and peer discussion.

Accountability comparison: Personal network offers no engagement structure. Community creates rhythm supporting sustained practice.

As Shiyan Koh, co-founder and GP of Hustle Fund, notes: "Great founders can look like anyone and come from anywhere."

Community access exposes you to founders you'd never meet through personal network.

Building Your Access Strategy

Step 1: Assess your current network honestly Do you have meaningful deal flow through existing connections? Most people overestimate their network's quality and volume.

Step 2: Choose primary access method For most aspiring angels, community membership provides best combination of deal flow, education, and support.

Step 3: Supplement strategically Consider syndicate or crowdfunding access for additional exposure once primary method is established.

Step 4: Don't rely on network building Building network sufficient for quality deal flow takes years. Community access provides immediate quality while network develops organically.

What Changes When Network Isn't Required

Geographic freedom: Invest from anywhere. Don't need to live in startup hub.

Professional irrelevance: Don't need tech background or industry connections.

Starting point democratized: Begin immediately regardless of existing relationships.

Quality floor established: Community curation provides baseline quality that random network deals don't guarantee.

Learning accelerated: Structure and education help you develop faster than network-dependent trial and error.

The Network Will Come Later

The counterintuitive truth: The best way to build startup network is to start investing through community, not to build network before investing.

How it happens: Portfolio investments create founder relationships. Co-investors become connections. Community engagement builds peer network. Active investing develops ecosystem presence.

Timeline: After 2-3 years of community-based investing, you'll have meaningful network. But you don't need to wait for it.

Angel Squad provides the access infrastructure: curated deal flow from Hustle Fund's pipeline of 1,000+ monthly applications, no personal founder connections required, 2,000+ member community across 40+ countries, and educational support that network-dependent learning lacks.

You don't need to know a founder to start angel investing. Modern infrastructure has solved the access problem. Your job is to choose the right access method and leverage it effectively.