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Finding angel investor groups

Posted by: Brian O'Connell on August 16, 2011 Source: Kauffman Foundation

The Angel Capital Association and the Angel Resource Institute are both great resources for healthcare entrepreneurs looking for capital funding.

Both have extensive lists of angel investor groups – both local and national – that can step in and give a financially ailing healthcare startup a boost when the need arises.

But which angel investing groups are the “best of the best”? You know, the ones that have a track record of successful investments, and the ones who are “all in” when it comes to committing your business?

Certainly, the money is out there. According to the Center for Venture Research, U.S. angel investors invested $19 billion in 55,000 deals (about 35,000 small businesses) in 2008, with most of those investments in startup or very early-stage companies. About 225,000 angel investors cut a check to a U.S. company in 2008.

So why not take a closer look at angel investors, and how they might help your healthcare startup take flight?

Here’s a helpful tip. The ACA has a “Top Ten” list that should be required reading for healthcare entrepreneurs. The list includes the largest and most successful angel investment groups in the U.S. Let’s take a look at some of the names on the ACA’s list that can really help healthcare business owners:

Ohio TechAngel Funds

With 282 members, OTAF is a big player in the regional technology field. The organization supports mainly early-stage companies.

Tech Coast Angels

TCA says it funded 31 companies last year, with over $6 million in investments. Life sciences, medical technology, and biopharm firms are a particular target.

Golden Seeds, LLC

With over 170 accredited investors, Golden Seeds seeks out companies run by women. Technology and life sciences companies are at the top of Golden Seeds’ list.

Hyde Park Angels

Founded by a group of University of Chicago students in 2006, HPA reaches out to healthcare product and services firms in the Midwest. Many of its investors have already run successful companies of their own and are now looking to help startups have the same experience.

Alliance of Angels

The Alliance had over $10 million in deals in 2010, and has connected over 160 investors with new startups in the Northwest since it launched in 1997. It also favors early-stage companies.

New York Angels

The NYA targets startups in the $250,000-to-$750,000 funding range – mostly companies in the Northeast. The outfit has supplied over $28 million in funding since 1997.

Both the ACA and the ARI have more extensive lists of angel groups, spread all over the U.S. Start with the list above, and then review the ones that best fit your company’s needs. It could be the first step on the most important journey – business-wise, at least – that you’ll ever make.

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