On a kite-surfing trip

 deal making chris herbert
  • Name: Chris Herbert
  • Company: Phone Halo

Chris Herbert never would have guessed that a friend's bachelor party would yield an investment in his startup.

Herbert co-founded Phone Halo, which makes wireless tracking devices that attach to easily lost items like wallets, keys or remote controls.

Last year, Herbert joined a group of friends for a surfing trip to the central coast of California. On the beach, they met another surfer.

"I threw him a beer and we all went surfing," Herbert said. Later that day, Herbert found out the man was an angel investor looking to put money in a startup.

"I had just returned from a business trip and still had all the paperwork I needed in my car," Herbert said. "I whipped out the term sheet and we struck a deal for a $25,000 investment."

First published January 15, 2014: 5:07 AM ET

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