Saved For A Rainy Day: 5 Pieces Of Advice For Founders And Investors Navigating An Economic Downturn
At Broad Street Angels’ annual meeting, Keriton’s Rich Mager and ROAR’s Yasmine Mustafa shared their experience as CEOs amid a challenging few years.
Their advice was given three weeks ago, but since the demise of Silicon Valley Bank, it might have been more prescient than these startup pros realized.
At its annual meeting the end of February, Broad Street Angels (BSA) hosted a panel focused on how founders and investors should best manage through an economic downturn. On top of months of rumblings about the possibility of an upcoming recession and a challenging fundraising period for high-growth companies, the tech-focused bank’s Friday shutdown introduced new uncertainty to the financial markets and brings further risk to those looking to raise capital any time soon.
BSA’s discussion featured the CEOs of two companies the angel investing group has invested in, as well as Dean Miller, CEO of the Philadelphia Alliance for Capital and Technology (PACT).