ANNE FRIBERG ‒ NYA MEMBER SPOTLIGHT
Anne Friberg joined New York Angels last year, and she has embraced every opportunity to learn from experienced investors, explore emerging industries, and better understand what separates promising startups from exceptional investments. Anne shares why she chose to join New York Angels, why you do not always have to be the smartest person in the room, and why she enjoys learning from other NYA Members and founders.
How did you meet New York Angels, and why did you decide to join?
I had already started thinking about joining an angel group when I was invited to an event hosted by Mentors + Angels through a friend with a startup in one of their cohorts. That's where I met Benny Lorenzo, Michael Costa, and Cindy Cook. After talking with them, I decided New York Angels would be a great avenue to pursue angel investing through a group rather than trying to do it on my own.
What inspired you to become an angel investor?
I studied finance in graduate school and started my career in corporate treasury at Anheuser-Busch. Later, I joined the NeuGroup, where we facilitated peer groups for finance leaders across many different industries. That experience exposed me to companies with very different challenges, from long-established corporations to much newer companies in the software and internet age. I think my curiosity about startups really comes from seeing how different industries solve problems in different ways. I find that incredibly interesting.
What has been your most memorable experience as a New York Angel?
It’s not any one event. Whenever I’m in New York City, I try to attend the Screening and Forum meetings. I always get very excited about the companies because they're phenomenal in some way or another. Then I listen to some of the more experienced members ask incredibly insightful questions that make me think, "Maybe I was a little too excited about this company." Learning from my fellow members has been one of the most valuable parts of being in New York Angels.
What do you look for when you’re investing in a company?
I am still trying to develop my investment thesis, and honestly, I do not quite have one yet. I started reading David Rose's book to learn how to think about angel investing. Right now, I tend to join diligence for companies that genuinely interest me and give me the opportunity to learn about new industries, understand how founders are solving problems, and explore ideas that pique my curiosity during the Screening meetings.
What is the biggest difference between companies you see at screening and those that make it through to due diligence?
One of the biggest things is the leadership team. They brought the company to where it is now, but are they also the people who can scale it into an acquisition target or even an IPO? I am also learning from more experienced angel investors how they think about valuation. When someone says a valuation is too rich, I realize I need to understand why.
What advice would you give founders who are starting to fundraise?
I think founders should look for angel groups with good reputations and track records and where they fit the investment criteria. And even if they do not quite fit today, they should connect with members to understand the gap between where they are now and where they need to be before applying.
What advice would you give newer angel investors who are interested in joining New York Angels?
I would encourage them to join. It’s a great way to put curiosity to work and learn how to evaluate companies and really think about the problems founders are trying to solve. Also, do not get too excited too quickly. Participate in due diligence and learn how experienced investors approach opportunities. It really boils down to asking whether a company fits your portfolio. Since I am still developing my own investment thesis, I observe more experienced members and continue learning from them.
I really appreciate my fellow members at New York Angels. Since I am relatively new to angel investing, I genuinely value the opportunity to learn from people with so much experience. That has been one of the most rewarding parts of being a member.
What is something about you that has been helpful in your career?
One of the most important lessons I've learned is that I do not have to be the smartest person in the room to contribute. It’s not a weakness; it is just reality. There are so many smart people out there. In a previous role, my job was actually NOT to be the expert. My role was to be a facilitator who brought the right people together so they could learn from each other. That taught me that you do not have to know everything to add value. I bring that same mindset to angel investing and due diligence today.
What motivates you?
Learning. I am naturally curious about people, their businesses, what motivated them to start a company, and the problems they're trying to solve. Those founder stories are incredibly inspiring. For me, angel investing is not just about the intellectual challenge of evaluating companies. It is also about helping new businesses grow and hopefully solve big problems out there.
