finding angel funding in the east by cynthia kocialski
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Finding Angel Funding In The EastThe ARC Angel Fund is focused on early-stage start-ups located in New York, but willmake investment in other areas of the Northeast and mid-Atlantic. They seek companieswith an existing product and revenue. Companies should have rapid and high growthpotential. The ARC Angel Fund provides an average investment per transaction between$50,000 to $250,000 in information technology, software technology, digital and mobilemedia, healthcare and services. The stages that ARC Angel Fund are interested in arestartups and early stage companies that have a valuation below $5 million.
The Astia Angels is interested in businesses that are led by women with fast and highgrowth potential. They have a branch in New York. Since its inception in 2013, the AstiaAngels has provided 20 companies with over $5.7 million in funds. They investin seed toearly stage companies. Their minimum investment is $25,000. The Astia Angels focuseson companies in technology, life science, services and products.
Mid-Atlantic Bio Angels Group are only interested in life science companies that targetan addressable market of at least $100 million. The company must have proof of conceptand external validation. The product must be patentable and provide other barrier toentries. They prefer companies with a $5 million valuation and a strong managementteam.
The Boston Harbor Angels are interested in early stage looking to raise between $250,000and $1.5 million. They seek companies that can provide a return within 5 years. Theyrequire a $200 million or greater market and the company must show the potential toachieve $50 million in revenue with 4 years. They prefer breakthrough or first-of-a-kindproducts, and a strong management team.
The Common Angels are based in Massachusetts. They offer funding for early stageinformation technology start-ups in the Northeast, primarily in the Boston area. With seedstage companies, their investments range between $100,000 and $500,000. Seedcompanies must have market validation. For early stage companies, they provide up to$1.5 million.
The Eastern New York Angels focuses on companies in New York State. They fund earlystage businesses with an average investment of $150,000 and have the potential for as amerger or acquisition target within 3-5 years. They are focused on companies in large andrapidly growing markets. Companies must have at least a proof of concept completed.
eCoast Angel Network is located in New Hampshire. It offers anywhere between$250,000 and $2 million for companies that are in the early or seed stage focusedprimarily in healthcare, e-commerce, products, technology and services.
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The Empire Angels focuses on early stage technology companies led by youngentrepreneurs in New York City. The investments are seed and early stage companies.Start-ups must be able to generate revenue within 12 months. The Empire Angels providebetween $50,000 and $350,000 of funding.
The Executive Forum Angels invest in companies of a wide variety of industries in stagesbetween A through C. The average investment is $28,000. Start-ups need to show thatthey have some current market traction.
The Hub Angels Investment Group is the oldest investment group in Boston. They focuson companies in the seed to early stages in industries such as mobile, internet, software,ecommerce, web services, media, life sciences and hardware. They invest between$250,000 and $500,000. Companies must be at least a year old, have at least a betaversion of their product, and some market validation. They expect companies to address alarge market and have a defensible technology. Start-ups should have a clear exit strategyand be about to reach it for less than a total of $10 million in funding.
The Landmark Angels reside in Connecticut but invest in companies located throughoutthe Northeast. They provide funding for the period between seed funding stage andinstitutional equity funding. The prefer companies engaged in large markets, and have‘must have’ or disruptive products. The Landmark Angels are interested in a variety ofindustries such as biotechnology, software, clean tech, medical devices, consumerproducts, networking, media and entertainment, and financial services. The LandmarkAngels funds provide between $100,000 and $2 million.
The Launchpad Venture Group is a Boston group and only funds companies in theBoston area. They are interested in early stage technology companies. The group focuseson high tech, green space, financial services, healthcare, and life sciences. TheLaunchpad Venture Group provides funding between $250,000 and $1 million.
The Long Island Angels Network invests in companies with a home on Long Island, NewYork. They seek early stage companies with innovative products and a strong intellectualproperty position. They prefer businesses with a strong management team that has trackrecord of performance and leadership. Funding is between $500,000 and $2 million.
The Maine Angels provides startup funds between $1,000 and $50,000 for smallbusinesses located throughout Maine between early to mid-stage. The organization isfocuses on companies with a strong management team in place, an exit strategy and amarket that has potential for growth. The Ocean State Angels group is located in RhodeIsland and provides funds for companies in the medical and life sciences. They preferseed to early stages either pre-revenue or revenue companies. The Ocean State Angelsgroup provides financial and business mentorship in addition to funds between $250,000and $750,000. The bulk of the group’s investments are in New England.
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The Piedmont Angel Network invests in companies located in North Carolina, SouthCarolina, and Virginia. They provide between $500,000 and $2 million for companies.The Piedmont Angel Network is interested in are life science, technology, software andadvanced materials.
The Rochester Angel Network is based in Rochester, New York. They offer funding tocompanies in the early stages and prefer a highly scalable business. They expect a clearexit strategy with 4 to 7 years. Companies should have reach $10 million in revenue. Thenetwork invests between $250,000 and $2 million. The network is interested incompanies that are in the medical, clean tech, energy and life science industries.
The Tribeca Angels network is based in Tribeca, New York. They prefer investmentsbased in New York and provide between $250,000 and $500,000 of funding. Companiesshould be pre-series A, seed or early stage. They seek companies that already have proofof concept for the business model, i.e. product, customers and revenue. They have apreference for game-changing or disruptive products.
The Upstate Angels provide funding to start-ups within a 4-hour drive radius ofGreenville, South Carolina. They provide funding between $150,000 and $1 million.Companies are expected to show the ability to exceed $20 million in revenue with 5 years.The businesses need a strong team, prepared exit strategy, and relevant industryexperience.