Seattle’s Alliance of Angels aims to get deals done faster with new fund
The new fund is sector agnostic, with about 70% of investments expected to go toward Pacific Northwest companies.
Alliance of Angels raised $1.3 million for a new “Innovation Fund” that will back 10-to-12 early-stage startups over the next year, mostly in the Pacific Northwest.
Founded in 1998, Seattle-based AoA is a nonprofit consortium of investors that typically invests around $10 million in 20 companies per year. That money comes from more than 150 AoA members, each investing individually.
Larsen said AoA is seeing impact from the economic downturn, specifically with downward pressure on valuations. “We’re paying more attention to financing risk — can a company continue to raise the money it needs?” he noted.
by Taylor Soper