April 6, 2011 (Mountain View, CA) - Barry Kramer and Steven Levine, partner and of counsel, respectively, in the Corporate Group of Fenwick & West LLP, were featured in a San Jose Mercury News article titled "Angels Among Us."
Fenwick's first Angel/Seed Financing Survey analyzes 52 tech companies that raised angel funding in the Silicon Valley or Seattle area in 2010. The survey aims to answer the same kinds of questions for angel funding as its Venture Capital Survey (which the firm has put out quarterly since 2002) does for venture capital.
Kramer notes that the seed-financing environment has undergone big changes in recent years, in part because some tech companies (i.e. social media and web startups) can be established effectively with relatively less cash.
Levine adds that, "angel financings have become more sophisticated and larger," as the survey found that angel funds accounted for more than 75% of seed financings while traditional venture fundings accounted for less than a quarter of them.