Posted on March 18, 2014 in Press Releases
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The inaugural fund from Launch Angels announced the initial investment for its $1MM Where Angel Fund, as well as Investment Committee members selecting the portfolio.
LA Announces First Investment and Committee for First Fund
Boston, MA, March 18, 2014 — The inaugural fund from Launch Angels, an investment platform focused on creating venture capital funds for affiliated groups, is already actively choosing deals. Today the Company announced the initial investment for its Where Angels Fund (WAF), as well as Investment Committee members selecting the portfolio. Launch Angels closed the WAF in December 2013 at nearly $1 million. Investors are associates from the former Where, Inc. (acq.: PayPal, 2011) and their close networks. The first WAF investment was in Klymit, a provider of premium outdoor equipment. Launch Angels, which is savvy about leveraging equity crowdfunding as part of its deal pipeline, took part in the Series B equity round offered through crowdfunding site CircleUp. Another three WAF deals are being finalized, balancing the portfolio between high-tech and high-touch startups. Launch Angels CEO Shermak commented, “This investment is a major milestone for the Company. Our process is turning up exciting deals, the committee is fully engaged, and the WAF investors are deeply interested. We originally projected investing the Fund over a period of 12-18 months. Given the deal flow we’re seeing, I suspect we might fully invest before then.” Klymit was picked by the WAF Investment Committee, consisting of leading New England entrepreneurs. Shermak runs the committee. With deep experience in the alternative fund world, angel investing, and startups, she is well acquainted with early stage investment. Other committee members include long-time entrepreneurs, such as Big Idea Group CEO Michael Collins, Bin1 ATE CEO George d’Arbeloff, startup advisor Sandy Posa, and Merchant Media CEO Michael Antino. The committee also features experienced financial advisors and investment managers. They include Baldwin & Clarke Corporate Finance Managing Director William Conrad, investment management veteran Kevin McClintock, and royalty-based venture finance expert Arthur Fox. Even as the WAF deal selection starts, two more Launch Angel Funds are accepting investors. The Early Traction Fund seeks early stage companies with a revenue track record. The Women-Led Fund targets women-led, women-backed, and women-focused companies. Both are open to accredited investors looking to diversify risk by participating in early stage venture deals.Investment Risks
Investors should consult with their financial and tax advisors before considering an investment. Early stage companies are risky investments, not suitable for all investors—even accredited ones.About Launch Angels
Launch Angels is a new investment platform that creates early stage VC portfolios leveraging equity crowdfunding. Launch Angels pools money from accredited individuals to create venture funds that are invested across 8-12 deals. Investors enjoy the benefits of venture investing, without the hassle of research, paperwork, and tracking.
