Basil Peters angel investor and Principal Strategic Exits Corporation
“[Peters doesn’t] require [teams to have prior business experience]. I don’t think it’s a good filter, because if you look at the track record of entrepreneurs, there’s very little correlation between whether it’s their first venture or their third or fourth or fifth and success. Very often the greatest success is from the entrepreneur’s first company.
[Peters doesn’t] usually invest in single entrepreneurs. [Most] of the time, it’s a team that is successful.  If there’s only one person, there are a lot more failure[s].”
Peters discusses what he looks for in successful entrepreneurs. “Some of the characteristics are that the successful entrepreneurs are always incredibly driven,  very bright,  absolutely honest, and  good leaders. They often have personality defects [and] usually have a significant amount of self-doubt. All entrepreneurs have self-doubt, but the good ones have more self-doubt than the mediocre ones, interestingly.” Basil Peters, Seed Capital From Angel Investors: Basil Peters, CEO and Fund Manager, Fundamental Technologies II, July 2010; http://www.sramanamitra.com/2010/07/05/seed-capital-from-angel-investors-basil-peters-ceo-and-fund-manager-fundamental-technologies-ii