Union League’s New Angel Investing Club Closes Its First Year With Over A Million Dollars Invested
FOR IMMEDIATE RELEASE
UNION LEAGUE’S NEW ANGEL INVESTING CLUB CLOSES ITS FIRST YEAR WITH OVER A MILLION DOLLARS INVESTED
(Philadelphia, PA) RoseAnn B. Rosenthal, chair of the Broad Street Angels, the angel investing affinity club at the Union League of Philadelphia, gave her annual report regarding the club’s first year of activity at its year-end meeting and holiday party. According to Ms. Rosenthal, “Forward-thinking planning by our founding Executive Committee in 2016, enabled The Broad Street Angels to hit the ground running in 2017. We quickly grew in membership from our original 10 founders to over 80 very active members.” In order to qualify to become a member of the Broad Street Angels, one must also be a member of the Union League.
Said Rosenthal, “Deal opportunities also presented themselves quickly as word spread within the angel investment community in the mid-Atlantic region. During the Broad Street Angels’ first year, over 300 start-up companies applied through our Website to be considered for an invitation to make a presentation at our monthly meetings.” Once an application has been received from a start-up, the deal review team considers the company and makes its recommendations. The club’s format invites only 3 companies to present to its members each month. In 2017, over 30 companies were invited to make presentations to the Broad Street Angels. “After the presentations, interested members voluntarily decided to form deal teams and take a closer look at about ten to fifteen of those presenting companies, undertaking a deal due diligence process,” she said.
According to Rosenthal, “Ultimately by year end, Broad Street Angels invested $1.01 million in five companies. A few other deal opportunities are still being reviewed.” Companies in which investments were made in 2017 include:
(in alphabetical order)
– FischerBlock
– Huntress
– Indigo Biosciences
– Neuro Flow
– ZSX
In addition to investing and deal review, the club also provides an angel investing educational initiative for its members and for members of the Union League. In 2017, it produced three educational events including “Angel Investing 101”, “Working with GUST, the angel investor’s online companion” and “Intro to Leading a Deal Team”.
ABOUT BROAD STREET ANGELS
Broad Street Angels is an affinity club (a focused interest club within the club) at The Union League of Philadelphia. It consists of Union League members who will actively invest in qualified, early-stage enterprises in Greater Philadelphia as a means of growing the region’s economy, retaining and attracting talent and fostering innovations that strengthen our civic infrastructure. Chair RoseAnn B. Rosenthal, is also President & CEO of BenFranklin Technology Partners. The group is a member of ACA, PACT, PA Angel Network, Ben Franklin Angel Coordinating Group and others.
For information, please contact: Communications Chair, Leo Levinson, CEO of GroupLevinson Public Relations, leo@grouplevinson.com, 215-627-3030.
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