For Angel Investors, you want to have an instrument (e.g. SAFE) that has set terms that they can commit to invest in after one meeting. Here’s the Word versions of the Alchemist SAFE
After your one meeting, secure their interest with a handshake on the terms, and then follow up with an email quickly on the terms. Then send formal docs. http://www.ycombinator.com/handshake/
This could be the Alchemist SAFE (except where you are changing the name of the entity on the SAFE). You should have your counsel review / modify the SAFE if needed. We think it’s fine to dilute by around 10% for Angel investor money that moves quickly (E.g. $750k on the $6m cap SAFE is 11% dilution. You can find a refresher on Note Terms and Dilution here). And you can raise the cap on the SAFE if you like after you have closed your first $250K of money.