BROAD STREET ANGELS MAKES RECORD YEAR OF INVESTMENT IN 2022, ALMOST $10 MILLION SINCE 2017
$2.1 million invested in 10 startups and 6 existing portfolio companies.
(Philadelphia, PA) February 23, 2023 – Broad Street Angels (BSA), an angel investment group based in Philadelphia, PA, held its annual meeting at the Union League of Philadelphia to announce a record year of investment. Nearly 100 attendees, including Broad Street Angels, Union League members, regional investment groups, and portfolio company CEOs heard the annual report presented by Melissa Ludwig, Vice Chair of BSA. Ms. Ludwig announced that BSA members made over $2.1 million in 10 new investments and 6 existing portfolio companies.
“In spite of a difficult economic climate in 2022, our members invested in a record number of companies and the largest cumulative annual investment since inception. The breadth of expertise and interests of our members is reflected in the diversity of the industries that our 2022 companies represent,” shared Bob Ciaruffoli, Chair of the Broad Street Angels.
New investments were made into:
AnaOno– Chest-inclusive lingerie
Epilogue Systems – Enterprise Digital Adoption Platform
ERPHealth – Behavioral Health Outcome Tracking Platform
GrowFlux – Plug-and-play horticulture
Lithero – AI for regulated marketing content
Modern Picnic – Chic alternative to the traditional lunchbox
NeurAlert – Continuous non-invasive stroke detection and alerting
SunRay Scientific – Custom solutions for advanced electronic packaging
TEAMology– Support for children’s social, emotional and mental wellness
Zenapse – Marketing predictions powered by AI and emotional intelligence
Add-on investments were made into Houwzer, Keriton, ROAR for Good, Seneca Therapeutics, Strados Labs, and Sweft. The event included a panel on “Managing Through a Downturn” moderated by Doc Parghi, Membership Chair with Rich Mager, CEO of Keriton, Yasmine Mustafa, CEO of ROAR for Good, and Dean Miller, CEO of PACT.
Since its first member meeting in 2017, the Broad Street Angels have invested nearly $9.9 million in 39 companies.