BROAD STREET ANGELS CELEBRATES BANNER 2023 IN ANGEL INVESTMENT AT ANNUAL MEETING
Cumulative Investments since 2017 pass the $10 million mark
Philadelphia, PA – At its Annual Meeting today at the Union League of Philadelphia, the Broad Street Angels proudly announced a landmark year in angel investments for 2023. Demonstrating significant achievements, the club has invested in seven new companies and executed follow-on investments totaling approximately $1.7 million, marking a year of substantial growth and commitment to fostering innovation in the Mid-Atlantic region.
Since its founding in 2017, Broad Street Angels has invested over $10 million into startup companies, significantly impacting the local economy and innovation landscape.
Highlighting New Investments
In 2023, the Broad Street Angels broadened its portfolio with strategic investments in seven innovative companies, each contributing uniquely to their respective industries:
- BubbleGoods: A revolutionary platform for health-conscious consumers, BubbleGoods offers a curated selection of the cleanest and most delicious foods available online.
- Cambridge Orthopaedic Labs: Pioneers in orthopedic solutions, Cambridge Orthopaedic Labs is dedicated to improving patient outcomes with cutting-edge technology and research in orthopedic care.
- Epistemix: Leveraging advanced computational modeling, Epistemix provides insights and forecasts to improve public health decision-making and policy.
- Luxtech: At the forefront of LED technology, Luxtech designs and manufactures innovative lighting solutions that enhance spaces while minimizing environmental impact.
- Powerlytics: Powerlytics offers robust financial data analytics, providing businesses and financial institutions with the insights needed to make informed decisions.
- Smart Response Technologies: Specializing in emergency management technology, Smart Response Technologies develops systems that streamline responses to natural disasters and emergencies, saving lives and resources.
- Tune.fm: Tune.fm is revolutionizing the music industry with its blockchain-based platform, enabling artists to earn cryptocurrency for every stream and connecting them directly with fans.
These companies represent the cutting edge of innovation across a range of sectors, from healthcare and technology to health-conscious food and emergency management. Broad Street Angels is proud to support these ventures, contributing to their growth and the advancement of the Mid-Atlantic region’s entrepreneurial ecosystem.
In addition to its investment success, the Broad Street Angels also announced the growth of its membership to 124 members, reinforcing its position as a leading angel investment club in the region and its capacity to positively influence the startup ecosystem.
The Annual Meeting featured an interview with Richard Vague, the former Secretary of Banking and Securities for the Commonwealth of Pennsylvania. Vague shared insights into the current economic climate and discussed his new book, “The Paradox of Debt,” which explores essential financial concepts and their implications for businesses and economies.
“Our success in 2023 reflects the passion, dedication, and belief our members hold in the transformative power of angel investing,” said Bob Ciaruffoli, Chair of The Broad Street Angels. “By investing in the future of our region and supporting the innovative minds that drive progress, we are contributing to a vibrant, entrepreneurial ecosystem.”
Looking ahead to 2024, the Broad Street Angels remains committed to identifying and supporting high-potential startups in the Mid-Atlantic region, furthering its impact and fostering a dynamic entrepreneurial landscape.
For more information about the Broad Street Angels and its investment activities, please visit www.broadstreetangels.com
About Broad Street Angels
The Broad Street Angels, an affiliate of the Union League of Philadelphia, is a group of accredited investors dedicated to investing in promising startup companies in the Mid-Atlantic region. Since 2017, the club has contributed over $10 million across various sectors, enhancing the regional startup ecosystem’s growth and success.
Contact Information:
Susan Yee
Chair, Communications Committee
Broad Street Angels
610-997-8100
syee@activedata.com
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