I don't have any statistics to weigh in on whether Boston has more or less angels per capita. I think the perception is a combination of two things: closed networks and old(er) money.
In my experience, most Boston angels made their money in previous revolutions of the tech cycle, so their networks usually don't extend into the next generation. Previous acquaintances and networks are far and away the way most angels find out about and consider deals (much more so than the Valley or New York), so this means that unless you're known to the community it's hard to get known to the community. Which leads to the perception that angels are scarce.
Answered 1 year ago, Edited 1 year ago by Michael Sattler
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