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

Solo angel investing is possible but unsustainable for most people. Communities exist because individual angels discovered they couldn't do this effectively alone.

How to evaluate communities and find the best fit for solo angels.

Why Solo Angel Investing Usually Fails

Deal flow problem: Individual angels see handful of opportunities through personal networks. Quality varies enormously. Most solo angels don't see enough deals to build proper portfolio.

Operational complexity: Negotiating terms, handling legal documents, and managing administration requires expertise most individuals don't have. Each investment becomes exhausting project.

Learning isolation: Without structured education or peer discussion, solo angels learn slowly through expensive mistakes rather than shared wisdom.

Engagement decay: Without community accountability and regular cadence, solo angels typically make 3-5 investments over 2-3 years then drift away before reaching adequate diversification.

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.

Communities solve both blockers that defeat most solo angels.

What Solo Angels Need from Community

Institutional deal flow: Professionally sourced and screened opportunities. Volume sufficient for building 15-20 investment portfolio. Quality filtering before presentation.

Operational infrastructure: SPV creation, document templates, wire coordination, and ongoing administration. All complexity handled so members focus on evaluation and decisions.

Structured education: Regular programming teaching evaluation frameworks, portfolio construction, and practical skills. Content that builds systematically from basics to advanced.

Peer community: Other investors at similar stages sharing perspectives, asking questions, and providing accountability. Connection that sustains engagement through boring years.

Accessible minimums: $1,000-2,000 per investment enabling proper portfolio construction with $15,000-25,000 total capital over 2-3 years.

Evaluation Framework for Communities

Deal flow quality: Where do opportunities come from? How many applications are screened? What percentage are presented to members? Higher screening ratio indicates more selective curation.

Deal volume: How many opportunities do members see monthly? 10+ monthly (50+ annually) is minimum for adequate exposure. More is better for pattern recognition development.

Educational programming: How often? Weekly is ideal. What format? Live sessions with Q&A plus recordings. What topics? Should cover fundamentals through advanced concepts systematically.

Community engagement: How active are discussions? Do experienced members participate? Is culture supportive of beginners? Vibrant discussion indicates engaged community.

Cost transparency: What are all fees? Membership cost, investment minimums, carry percentage on returns. Hidden fees indicate problematic community.

Member satisfaction: Do current members enthusiastically recommend? Talk to 3-5 members before joining. Lukewarm responses are warning sign.

Red Flags to Avoid

Member-sourced deal flow: Communities relying on members to bring opportunities favor connected investors and produce inconsistent quality. Look for institutional sourcing.

No screening process: If community presents every opportunity without filtering, you're doing screening work that should happen before presentation.

Infrequent education: Monthly or occasional programming isn't enough. Weekly sessions with consistent structure indicate serious commitment to member development.

Passive community: If discussion forums are empty and members don't interact, community provides infrastructure but not peer support that sustains engagement.

Hidden costs: Unclear fee structures, surprising charges, or vague carry terms indicate community prioritizing its economics over member experience.

No track record: New communities without established membership lack proof that model works. Look for communities with hundreds or thousands of members.

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."

Quality community enables that practice. Poor community makes practice harder than solo investing.

Angel Squad: Why It Works for Solo Angels

Deal flow: Curated from Hustle Fund's institutional pipeline of 1,000+ monthly applications. Professional screening before presentation. Members see 150-200+ opportunities annually.

Investment minimums: $1,000 per investment enables building 15-20 investment portfolio with $15,000-20,000 total capital. Proper diversification is financially accessible.

Educational programming: Weekly sessions from experienced VCs covering evaluation, portfolio construction, sector deep-dives, and practical frameworks. Recordings available for those who can't attend live.

Community scale: 2,000+ members across 40+ countries. Active discussions. Mix of beginners and experienced angels. Supportive culture emphasizing knowledge sharing.

Cost structure: $3,500 lifetime membership. $1,000 investment minimums. Standard carry on profitable exits. Transparent and predictable.

Track record: Thousands of members have built portfolios through community. Model is proven at scale across diverse backgrounds and locations.

Comparing Community Types

VC-backed communities (like Angel Squad): Deal flow from institutional pipeline. Professional screening. Experienced leadership. Strong educational programming. Best for most solo angels.

Syndicate-based communities: Led by individual angels sharing their deals. Quality depends entirely on leader's deal access and judgment. More variable experience.

Network-based communities: Member-sourced deal flow. Favor connected investors. Less consistent quality. Better for those with existing networks to contribute.

Platform-based communities: Technology platform connecting angels to startups. Less curation and education. More self-directed experience.

Recommendation for solo angels: VC-backed communities with institutional deal flow provide most complete infrastructure for those without existing networks or experience.

What to Ask Before Joining

Deal flow questions: Where do opportunities come from? How many do members see annually? What percentage of applicants are selected?

Education questions: How often is programming offered? What topics are covered? Are recordings available?

Community questions: How many active members? How engaged are discussions? What's culture like for beginners?

Cost questions: What's total membership cost? What are investment minimums? What's carry structure on returns?

Member questions (ask current members): Would you recommend this to a friend? What's best part? What's frustrating? What would you change?

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

Best communities see founders from everywhere because deal flow isn't limited by geography or networks.

Making Your Decision

If you're complete beginner: Prioritize educational programming and supportive community culture. You need structured learning and space to ask questions.

If you have some experience: Prioritize deal flow quality and volume. You need exposure to more opportunities to build proper portfolio.

If you have domain expertise: Prioritize communities presenting opportunities in your areas. Your expertise is most valuable where you can apply it.

If you're time-constrained: Prioritize operational efficiency. Communities handling all complexity let you focus limited time on evaluation.

The Best Community Is One You'll Use

Community value requires engagement. Best infrastructure in world doesn't help if you don't participate. Choose community you'll actually engage with weekly for years.

Consider your constraints: Time availability, learning style, budget, and engagement preferences. Community that matches your constraints will produce better outcomes than theoretically superior option you won't use.

Trial if possible: Some communities offer trial periods or money-back guarantees. Use these to test fit before full commitment.

Solo Angels Who Succeed Through Community

Common patterns: They engage with educational content consistently. They participate in community discussions. They make investments at regular quarterly pace. They help other members where they have expertise. They maintain engagement through boring years.

What they don't do: Treat community as passive deal flow source. Skip education programming. Lurk without participating. Vary engagement based on excitement level.

The honest truth: Community provides infrastructure. You provide discipline. Both are necessary for long-term success.

Conclusion

Solo angels need community infrastructure to succeed sustainably. Best communities provide institutional deal flow, operational simplicity, structured education, peer support, and accessible minimums.

Evaluate communities systematically using the framework above. Talk to current members. Assess fit with your situation, constraints, and goals.

Angel Squad addresses solo angel needs comprehensively: deal flow from Hustle Fund's institutional pipeline, $1,000 minimums enabling proper diversification, weekly education from experienced investors, 2,000+ member community for peer support, and transparent cost structure with proven track record.

The best community is one you'll engage with consistently for years. Choose based on fit, not just features. Your sustained participation matters more than any infrastructure advantage.