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

Standard angel investing education happens over months of casual learning. If you're ready for intensive approach, 30 days can build genuine foundation.

This is the accelerated curriculum for committed learners.

Before You Start: Prerequisites

Time availability: This curriculum requires 2-3 hours daily for 30 days. Total: 60-90 hours. If you can't commit this time, extend timeline rather than rushing.

Learning style fit: Intensive learning works for self-motivated individuals who learn well through structured content consumption. If you need more processing time, adjust pace.

Purpose clarity: You're building foundation for actual investing, not accumulating knowledge for its own sake. Everything learned should connect to future decisions.

Qualification verification: Confirm you meet accreditation requirements before starting. Education without ability to invest is premature.

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.

This 30-day curriculum addresses education blocker. Deal flow comes through community joining after foundation is built.

Week 1 (Days 1-7): Portfolio Construction

Day 1 focus: What angel investing actually is. Individual capital deployed to early-stage startups. Equity ownership. High risk, long timeline. Basic mechanics.

Day 2 focus: Why portfolios matter. Power law returns. Most investments fail. Few generate returns. Statistical necessity of diversification.

Day 3 focus: Portfolio size requirements. Why 15-20+ investments minimum. How probability math works. Expected outcome distributions.

Day 4 focus: Portfolio construction mechanics. Check size consistency. Deployment timeline. Quarterly pacing. Building over 2-3 years.

Day 5 focus: Realistic return expectations. What 2-3x portfolio return means. Timeline to exits. What success actually looks like.

Day 6 focus: Power law dynamics deep dive. How single investments drive portfolio returns. Why picking winners is less important than adequate diversification.

Day 7 focus: Week 1 synthesis. Review notes. Write summary of portfolio construction principles in your own words. Identify remaining questions.

Resources: Hustle Fund blog posts on portfolio construction. Podcast episodes covering portfolio theory. One foundational article on power law returns.

Milestone: You can explain why angel portfolios need 15-20+ investments and what realistic returns look like.

Week 2 (Days 8-14): Investment Structures

Day 8 focus: SAFE overview. Simple Agreement for Future Equity. Basic mechanics. Why it's standard for early-stage investing.

Day 9 focus: Valuation caps explained. What post-money caps mean. How they affect ownership. What reasonable caps look like by stage.

Day 10 focus: Discounts and pro-rata rights. How discounts function. What pro-rata means. When these provisions matter.

Day 11 focus: Convertible notes. How they differ from SAFEs. Interest and maturity. When notes are used versus SAFEs.

Day 12 focus: Dilution fundamentals. How ownership decreases over time. What dilution math looks like. Setting realistic ownership expectations.

Day 13 focus: Exit scenarios. Acquisitions versus IPOs. How proceeds are distributed. What different outcomes mean for investors.

Day 14 focus: Week 2 synthesis. Review structures covered. Create reference document summarizing key terms. Test understanding by explaining to someone else.

Resources: Legal explainers on SAFEs and notes. YCombinator SAFE documentation. Blog posts on term sheet components.

Milestone: You can read a SAFE term sheet and understand what you're agreeing to.

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."

Understanding structures prepares you for that practice.

Week 3 (Days 15-21): Evaluation Frameworks

Day 15 focus: Team evaluation basics. What to look for in founders. Background indicators. Presentation assessment.

Day 16 focus: Market sizing approaches. TAM, SAM, SOM explained. Top-down versus bottom-up. What matters at early stages.

Day 17 focus: Business model assessment. Revenue models. Unit economics basics. Path to profitability considerations.

Day 18 focus: Product and traction signals. What product-market fit indicators look like. Early traction interpretation.

Day 19 focus: Competitive analysis basics. How to think about competition. Defensibility considerations. Market timing.

Day 20 focus: Due diligence calibration. What's appropriate for $1,000 checks. Time allocation. What to verify versus accept.

Day 21 focus: Week 3 synthesis. Develop personal evaluation framework. Write criteria document. What makes opportunity interesting to you?

Resources: Investor blog posts on evaluation. Podcast episodes featuring deal discussion. Articles on due diligence approaches.

Milestone: You have written personal criteria for evaluating opportunities.

Week 4 (Days 22-30): Community and Preparation

Day 22 focus: Why community matters. Deal flow access. Educational support. Operational infrastructure. Peer accountability.

Day 23 focus: Community evaluation criteria. Deal sourcing quality. Educational programming. Investment minimums. Cost structure.

Day 24 focus: Research specific communities. Review 5-7 options. Note strengths and weaknesses of each.

Day 25 focus: Member conversations. Talk to 2-3 current members of communities you're considering. Ask about actual experience.

Day 26 focus: Community selection. Choose best fit based on research. Prepare application materials.

Day 27 focus: Operational preparation. Set up tracking spreadsheet. Create investment documentation template. Prepare calendar blocks.

Day 28 focus: Financial preparation. Confirm capital availability. Plan deployment schedule. Set up accounts for wire transfers.

Day 29 focus: Submit community application. Complete onboarding materials. Pay membership fees.

Day 30 focus: Final synthesis. Review all notes from 30 days. Write summary document capturing key principles. Set goals for next 90 days.

Milestone: Community joined. Systems prepared. Ready to begin observation and eventual investment.

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

Your education prepares you to recognize them regardless of background.

Daily Structure

Morning (60-90 minutes): Primary content consumption. Reading, watching, or listening to day's focus material.

Midday (15-30 minutes): Note-taking and synthesis. Capture key insights in personal format.

Evening (30-45 minutes): Reinforcement and connection. Review notes. Connect to previous learning. Identify questions.

Total daily: 2-3 hours of focused learning.

Resource Stack

Primary reading: Hustle Fund blog (portfolio construction, evaluation frameworks). YCombinator resources (SAFE documentation, startup mechanics). First Round Review (founder perspective).

Podcast listening: Angel investing focused shows featuring practitioner perspectives. 2-3 episodes weekly.

Video content: Educational sessions from investor communities. Recorded talks from experienced angels.

Reference documents: SAFE templates. Sample term sheets. Glossary of common terms.

What This Curriculum Doesn't Include

Real deal exposure: This is education foundation, not complete preparation. Real opportunity evaluation comes after community joining.

Investment execution: Making actual investments requires additional time beyond this 30-day curriculum.

Peer learning: Community engagement provides peer learning not available through solo study.

Ongoing education: This foundation requires continued learning through community programming and practice.

After Day 30

Days 31-60: Active observation in community. Review all presented opportunities. Attend educational programming. Begin developing real pattern recognition.

Days 61-90: First investment. Select opportunity meeting your criteria. Execute investment process. Document thesis.

Days 91+: Portfolio building. Continue 1-2 investments quarterly. Ongoing education through community. Sustained practice over years.

Success Indicators

Knowledge indicators: You can explain portfolio construction rationale. You understand SAFE mechanics. You have personal evaluation framework. You know what realistic outcomes look like.

Preparation indicators: Community joined. Tracking systems prepared. Capital available. Calendar blocks established.

Mindset indicators: You understand most investments fail. You're committed to long timeline. You're ready to make imperfect decisions and learn.

Angel Squad provides natural next step after this curriculum: immediate deal flow access for observation, continued education through weekly programming from Hustle Fund GPs, community for peer learning and accountability, and $1,000 minimums enabling portfolio construction.

Thirty days of focused education builds genuine foundation. It doesn't replace experience but prepares you to gain experience effectively. Complete this curriculum, join quality community, and begin the real learning that comes through practice.