Today's seasoned investors are looking beyond the stock to exciting new opportunities in private equity. And no wonder―an investor can score huge returns just hitting one home run. But since angel investing is also extremely risky, it's crucial to have the right skills to win the game, Whether you're an experienced angel or new to this lucrative area, this book is your road map for success.

Authors Benjamin and Margulis guide you through the minefields of angel investing to help you make smart decisions in this high-stakes arena They reveal the real secrets to success-not just how to pick a winner, but how to spot the losers. Step by step, address every crit-ical phase: how to find the most promising opportunities in an inefficient, fragmented mar-ket, how to sidestep potentially disastrous mis-takes by conducting thorough due diligence, and bow to effectively manage the investing process for high portfolio returns while reducing downside risk.

Packed with detailed documents and term sheets from actual transactions, this is the authoritative handbook on the exciting but risky world of early-stage investing that every poten -tial angel needs at his side.

GERALD A. BENJAMIN, M.S., is the senior managing partner and founder of Internationsl Capital Resources in San Francisco, the largest nationwide angel investor network. IGR links almost 100,000 accredited investors with prescreened ventures in the United States, Canada, and Mexico. Mr. Benjamin is also chairman of the Northern California Venture Forum and executive direc-tor of the Private Equity Research Institute, He has coauthored several books, including two on angel investing, and has worked as an entrepre- neurial adviser for moer than twenty-five years.

JOEL MARGULIS is the of a num-ber of books and has coauthored two books with Gerald Benjamin on angel financing for the entrepreneur. He teaches writing at San Francisco State University.