Anderson got to know Busteed three years ago while Busteed was still a student at Duke University. He did a first-rate job. So when Busteed said he wanted to leave to form his own venture, Anderson didn't hesitate to bring him to the Common Angels. Initially, Geshwiler was skeptical of the deal, given the Common Angels' investment bias. But Geshwiler said Busteed's charm went a long way toward securing the investment.
Angels really have to click with the team.
Once Geshwiler started calling college deans, he was sold. And then they'd go on for 20 minutes. Geshwiler and Anderson aren't the only influential people Busteed has won over. The board of directors also includes Robert Baker, former president of Houghton Mifflin Co., and Peter Nicholas, chairman of Boston Scientific. The company also had momentum, Geshwiler said.