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Map of the DMV angel investing market across DC, Maryland, and Northern Virginia
BlogJune 25, 2026

DMV Angel Investing: A Guide to DC, Maryland, and Virginia Startups

The DMV is one of the few U.S. markets where federal proximity is a structural edge. Here's how it works, who's deploying capital, and how to get in.

Map of the Atlanta startup ecosystem showing fintech, SaaS, and logistics anchors across Tech Square, Buckhead, and Midtown
BlogJune 25, 2026

Atlanta Startup Investing: A New Angel's Guide to the Southeast Market

Atlanta produced Mailchimp, Calendly, and Flock Safety while staying uncrowded. A practitioner's guide to angel investing in the Southeast's power-law market.

Map of Alabama's startup investing market across Birmingham and Huntsville for new angels
BlogJune 25, 2026

Alabama Startup Investing for New Angels: Exits, Deal Flow, and Public Capital

Alabama has produced three power-law exits in a decade. Here's the deal flow, the dual-hub map, and the public capital that wants angels in the room.

Play Money's Tuesday breakdown of startup revenue terms — GMV vs. revenue, the two ARRs, unit economics, and how AI deals dress up the numbers. May 2025.
BlogJune 24, 2026

3 Revenue Terms Angels Get Wrong

Startup revenue numbers mislead. GMV, ARR, unit economics — learn the three terms angels most often misread, plus the AI-era tricks to spot.

Angels Decoded Episode 18: Dilution Isn't the Problem. Not Understanding It Is. Hosts Andy Walsh and Cheryl Kellond.
BlogJune 19, 2026

Dilution Isn't the Problem. Not Understanding It Is.

Why dilution is a reason to celebrate, not panic—plus how to spot a cram-down round dressed up as a late-stage opportunity. Angels Decoded Ep#18.

Donor-advised fund deployment: the hidden questions DAF holders ask
BlogJune 13, 2026

The DAF Holder's Hidden Questions: A Field Guide to Deployment

The questions DAF holders Google at 2am but never ask their sponsor: deferral guilt, succession, direct investing, and building a personal impact fund.

Play Money guide to managing a financial windfall with a 90-day decision framework
BlogJune 13, 2026

The Lurker's Guide to a Windfall: A 90-Day Decision Framework

A calm, stewardship-first framework for managing a sudden windfall: pause 90 days, build the boring base, and decide what comes next.

A guide to angel investor taxes including QSBS, Section 1244, K-1s, and charitable strategy after the One Big Beautiful Bill Act
BlogJune 13, 2026

The Angel Investor's Tax Toolkit: QSBS, K-1s, and Charitable Strategy After the OBBBA

Five federal tax provisions determine how much an angel investor keeps after an exit. Updated for the One Big Beautiful Bill Act, effective July 5, 2025.

Guide to self-directed IRA angel investing covering Roth vs Traditional accounts, UBIT on SPVs, IRC 4975 prohibited transactions, QSBS, and 2026 custodians.
BlogJune 13, 2026

Self-Directed IRA Angel Investing: Roth vs. Traditional, UBIT, and Prohibited Transactions

Roth vs Traditional, the UBIT gotcha on SPVs, §4975 prohibited transactions, why QSBS doesn't apply, and the 2026 SDIRA custodian landscape.

Three-gate angel investor evaluation framework covering founder quality, market and model, and deal terms.
BlogJune 13, 2026

How to Evaluate Startup Founders and Deals: An Angel Investor's Framework

A practitioner's 3-gate framework for vetting founders, market, and deal terms, anchored in the ACA research on what actually predicts returns.

Angel investing portfolio strategy: power law returns, the 30-check threshold, and position sizing
BlogJune 13, 2026

Angel Investing Portfolio Strategy: The Power Law, the 30-Check Threshold, and How to Size Your Checks

Angel returns follow a power law. How many checks you need, how to size each one from your net worth, and how to spread them across vintage years.

A beginner's guide to angel investing covering accredited investor requirements, historical returns data, and portfolio diversification math.
BlogJune 13, 2026

How to Start Angel Investing: A Beginner's Guide Built on the Data

What accreditation requires, what returns the data actually shows, and how many investments you need before diversification starts working.

Comparison of angel investing platforms by regulation type, minimum check, and fees
BlogJune 12, 2026

Best Angel Investing Platforms in 2026: Reg CF, Reg D, and How to Choose

Six angel investing platforms compared on regulation, minimums, fees, and curation, with an honest read on where each one is the wrong choice.

Diagram of the climate deep tech funding gap between government grants and institutional venture capital, where angel investors write checks.
BlogJune 10, 2026

How to Angel Invest in Climate and Deep Tech: Andrew Eil's Six-Part Framework

Most VCs won't fund the gap between lab and first customers. Andrew Eil's six-part framework shows angels how to evaluate climate hardware deals.

Angels Decoded Episode 5: Small Checks, Big Impact — The Real Math of Angel Investing. Hosts Andy Walsh and Cheryl Kellond.
BlogJune 3, 2026

Small Checks, Big Impact — The Real Math of Angel Investing

Most angels assume size equals impact. Ep#5 breaks down the 30-investment rule and why small checks, deployed through SPVs, can move founders more.

Play Money explainer: SPV vs RUV, how pooled angel investing structures compare from closing mechanics to fees and exits.
BlogJune 2, 2026

SPV vs RUV: Two Angel Investing Structures Explained

SPVs and RUVs both pool angel investors into one entity, but they work differently. Here's how each structure works, what you pay, and when each makes sense.

Angels Decoded Episode 15: Why Your Angel Thesis Shouldn't Exist Yet. Hosts Andy Walsh and Cheryl Kellond.
BlogJune 1, 2026

Angels Decoded Ep#15: Why Your Angel Thesis Shouldn't Exist Yet

Most new angels wait for a thesis before investing. Cheryl and Andy unpack why that keeps people stuck — and how conviction actually forms through small bets.

Angels Decoded Episode 16: Why Angel Money is the Best Capital a Founder Ever Takes. Hosts Andy Walsh and Cheryl Kellond.
BlogMay 31, 2026

Angels Decoded Ep#16: Why Angel Money is the Best Capital a Founder Ever Takes

Most founders think angel money is just a VC stepping stone. In Ep#16, Cheryl and Andy argue it may be the most important capital a founder ever takes.

How DAF capital flows from sponsor accounts through Inspire Access to startup investments on Play Money
BlogFebruary 13, 2026

Can You Invest Your Donor-Advised Fund (DAF) in Startups? Here’s How It Works

Learn how to invest your donor-advised fund in startups through Play Money's partnership with Inspire Access. Turn idle DAF capital into a diversified impact portfolio.