Keiretsu Forum, one of the angel groups that charge entrepreneurs for pitching investors, has decided to stop charging early-stage companies.
Of course the decision has nothing to do with the storm of coast-to-coast criticism Jason Calacanis stirred up last week by declaring war on Keiretsu Forum, PrivateEquityForums, and other similar groups.
PEHub: The angel network is asking chapters to waive their presentation fees for “true startups” — companies that have no revenue and less than $500,000 in capital and are trying to raise less than $500,000 from investors, said Randy Williams, Keiretsu’s founder and CEO.
Williams said the change is not a response to the recent attacks on the fees launched by investor Jason Calacanis — who has promised to start his own angel network on Monday, November 16, unless Keiretsu and several other angel groups drop their fees — but have been in the works for several months. Keiretsu also has no plans to drop fees for other entrepreneurs.
Here’s Jason waving a plastic gun at a defender of the angel groups (skip the first hour):
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