ACA EDUCATIONAL WORKSHOP

Angel Returns and Portfolio Strategy with Rick Timmins

 

Part of ACA Angel University – Thursday, November 20, 2025

 

Taught by seasoned investor and former Cisco executive Rick Timmins, this foundational course leverages the Angel Capital Association’s deep research on angel investment outcomes to deliver data-backed strategies for building high-performing portfolios.

 

Designed for both new and experienced investors, Angel Returns and Portfolio Strategy offers a practical framework for maximizing exit potential while minimizing downside risk. Rick brings decades of leadership experience in corporate finance and early-stage investing, including his role as Chairman Emeritus of the Central Texas Angel Network—one of the most active angel groups in the country.

 

Participants will explore:

• Key drivers of return on investment and internal rate of return (IRR)

• The critical role of diversification across sectors, stages, and geographies
  Portfolio sizing strategies to mitigate high failure rates in early-stage companies

• How time to exit impacts capital efficiency and overall returns

• The importance of follow-on funding readiness and its influence on outcomes

• Insights into investing during economic downturns and volatile markets

Real-world data, case studies, and lessons from Rick’s own investing journey will illustrate best practices and common pitfalls in portfolio construction. Whether you're building a personal portfolio or deploying capital through a group or fund, this course will equip you with clear, actionable strategies.

 

Topics to be Covered:

• What do We Know about Returns to Angel Investors?

• Angel vs Public Market Returns

• Angel vs VC Returns

• The Value of Diversification

• Patience is a Virtue

• Does Due Diligence Matter?

• Should Angels “Stick to Their Knitting?”

• Should We Stay Engaged with Portfolio Companies After Investment?

• Do Notes vs Equity Matter?

• Follow-on Investing:  Good Money After Bad?

• Which Round had Highest Return?

• Do IP Barriers (Patents) Matter?

• Some Business Sectors May be Better than Others?

• Are Outcomes Better Investing in Experienced Serial Entrepreneurs?

• Should I Invest in Diverse Teams?

• What About the Strategy of Early Exits?

• Do IPO’s or M&A Result in Better Returns?

• Does it Matter When in the Economic Cycle I Invest?

• How Should I Think about Valuation?

• Finally…  Is There Wisdom of Crowds Among Angels?