Planning to be an angel investor on the side, have a company in mind. What set of data points/material should I be asking them before I take the plunge. Should I have a lawyer present?

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don't have one present, but make sure you've spoken to a lawyer and that you know what you're doing. Having been through the startup thing before, lawyers are rarely involved in early stage meetings in person.

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Repeat of C1, make sure you see and understand the cap table. Need to know who else owns, liquidation priorities, dilution potential. Understand the founders agreement and voting rights.

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You sure you're qualified? Need 2 years of filing income tax returns above 200k (300 if married filing jointly) to qualify as an accredited investor, and the company can't raise money from non-accredited investors (assuming US company) unless they're issuing registered securities. Apologies if you know all this already, but if not, definitely look into it

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Obviously this depends on size of investment, but generally you want a lawyer that has been through this rodeo before. I would obviously look for checklists online/in books, but here are a few key things off the top of my head: Management Compensation/Equity agreements, amount of management investment (they need skin in the game), whether your stake is based on a pre or post money valuation, an anti-dilution provision in the contract, potentially a quality of earnings assessment by a third party.

Hmm thanks. Guess I need to research bit more on this, really helpful pointers!

If you need a leadership team - I'd make an amazing tech startup CEO / chief strategist. Had my own once, learned all the lessons.

M2 I think the accredited investors requirement only applies to companies soliciting investors that they don't already know. So if OP already has some type of personal connection to the start up team he would not need to be accredited.

@pwc1 I believe it applies to the total level of credit being raised, regardless of whether you know them or not

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