Insider Insights: What I wish I knew about angel investors and VCs with GameFlo

Raising money for your business is a big deal — but figuring out the right funding path can be just as important as securing the cash. Should you go with venture capitalists (VCs), who typically push for fast growth and returns? Or should you work with angel investors, who might be more aligned with your long-term vision? Chi Nwogu, founder of GameFlo shares how his company navigated the fundraising process, lessons earned and why picking the right investors makes all the difference.  

Finding the right partners is a critical step for any business. For GameFlo, choosing angel investors over VCs wasn’t just about money — it was about finding partners who genuinely believed in their mission. 

“Instead of taking out loans, it was important for me that we aligned with people that wanted to support our mission, so we knew that angel investors were our way forward.” — Chi Nwogu, GameFlo 

VCs often look for a quick return, which can push businesses to grow at a pace they might not be ready for. Instead, GameFlo chose to scale intentionally and focus on building a solid foundation before making bigger moves. 

After deciding on what kind of investors are the best fit for the brand, it’s important to prepare and build relationships. Before jumping into fundraising, Chi did plenty of research. He talked to other founders, learned from their experiences and spent time building relationships with potential investors. Chi calls this “planting seeds” — connecting with like-minded people who could open doors down the road. Even if those relationships didn’t lead to immediate investments, they often led to new opportunities later. 

Let’s be real — raising money can be brutal. The number of “no’s” you hear can shake even the most confident entrepreneur. Chi compares it to baseball: 

“When it comes to raising money, you will probably get one great hit every hundred times, and ninety-nine percent of the time, you will fail.” 

At first, every rejection felt personal to Chi. In fact, after one round of tough feedback, GameFlo made a hiring decision that wasn’t the best fit for their business at the time. The lesson? Not all feedback needs to dictate your next move. Trust your instincts. 

Once GameFlo secured funding, they put it straight to work — developing products, testing ideas, buying inventory and investing in marketing. They also had to cover behind-the-scenes costs like legal and accounting fees, which can add up fast for a growing brand. 

With their foundation solid, GameFlo is focused on expanding their team, launching their next game, Pickup Soccer and growing their media arm with a new comic about pickup basketball. With North America hosting the World Cup in 2026, it’s the perfect time to tap into the excitement of the sport and build new partnerships. 

Raising money isn’t just about finding someone to write a check — it’s about finding partners who align with your vision. Whether you go the VC or angel investor route, the key is knowing what kind of growth you want for your brand and making sure your funding strategy supports that. After all, it’s not just about getting money — it’s about building something that lasts. 

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