Angel Investing 101: Risk, Returns & Real Talk with Grant Lawrence

The Picture of Wealth

In this episode of The Picture of Wealth, host Dustin sits down with Grant Lawrence, co-founder of Valhalla Private Capital and founding member of the Valhalla Angels in Kelowna and Vancouver. Together, they pull back the curtain on angel investing—what it is, how it works, and what aspiring investors need to know before jumping in.

Grant breaks down the difference between accredited and eligible investors, the realities of startup risk (including “zombie” companies), and why writing a check isn’t about luck—it’s about strategy. From portfolio sizing to startup red flags, founder dynamics to due diligence, this episode is a practical guide for anyone curious about investing in early-stage companies.

You’ll also hear:

• Why angel investing isn’t just for the ultra-rich
• How to assess startup valuations (and spot inflated ones)
• The importance of joining an angel group or community
• What types of founders and industries Grant avoids—and why
• Why investing in impact and innovation can be a deeply personal mission

Whether you're a first-time investor, an entrepreneur looking for funding, or just curious about how wealth builders think, this episode is filled with real stories, honest insight, and practical takeaways from someone who’s seen the wins—and the wipeouts.

02:09 - Understanding Angel Investing

03:13 - Accredited vs. Eligible Investors

05:30 - Investment Strategies and Risks

09:19 - Challenges in Angel Investing

12:39 - Evaluating Startups

22:41 - Valuation and Market Potential

27:50 - Resources for Angel Investors

32:38 - Personal Insights and Health Connection

35:09 - Conclusion and Contact Information

Key Quote:

"You could buy a lottery ticket. But to bet on a startup? You’d better be ready—and accredited."

Learn more about Valhalla Angels: valhallaprivatecap.com

Connect with Grant Lawrence on LinkedIn: Grant Lawrence