Boston, MA, September 11, 2014 — Today StartOut and Launch Angels announce a strategic relationship with Launch Angels’ latest affinity venture fund, VentureOut. The Fund backs early stage ventures with lesbian, gay, bisexual and transgender (LGBT) founders and management team members, and it will help create the next generation of LGBT entrepreneurs.
“The VentureOut Fund supports a central part of StartOut’s core mission: connecting LGBT entrepreneurs to sources of funding. StartOut seeks to build and empower the next generation of LGBT entrepreneurs and business leaders,” said Gene Falk, CEO of StartOut. “We’re delighted that Launch Angels has focused their newest affinity fund on the LGBT community, creating a new source of investment capital for gay-owned and managed business ventures nationwide.”“It’s a privilege to be supported by a forward-looking organization like StartOut,” said Shereen Shermak, Launch Angels CEO. “Together we have the opportunity to build something meaningful and make a real impact on the LGBT entrepreneurial community.” “StartOut has built an incredible community of entrepreneurs, successful professionals, and investors in just five short years,” said Greg Wiles, Managing Director, VentureOut Fund. “The organization is a testament to the power of how the LGBT network can support one another within the small business community. We are excited to work with them in furthering our shared vision.” About VentureOut The VentureOut Fund leverages the power of the LGBT community to source opportunities and provide high-quality LGBT-led deal flow. Additionally, the fund will support LGBT entrepreneurs by connecting them to resources and mentors who can provide senior-level counsel and advice. Targeting a close of $2 million, VentureOut will pool capital from 15-20 investors in order to have a large impact. It will invest in about 10 to 15 promising, scalable seed-stage companies and utilize the proven management capabilities of Launch Angels to provide investor relations, back office and investment support. A portion of the fund proceeds will be returned to the LGBT business community. For more on VentureOut, please visit: http://launch-angels.com/funds/ventureout-fund/. 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 StartOut Founded in 2009 with chapters in New York City and San Francisco, and now Chicago, Los Angeles, Austin, Boston, and more in development, StartOut is a national non-profit 501(c)(3) organization dedicated to fostering and developing entrepreneurship in the lesbian, gay, bisexual and transgender (“LGBT”) community. It helps aspiring entrepreneurs to start new companies, empowers current entrepreneurs to grow and expand their businesses, and engages successful LGBT entrepreneurs as role models and mentors for up-and-coming business ventures. StartOuts’ goals are to educate, inspire, and support members of the LGBT community around entrepreneurship and business leadership through mentorship, education, and access to capital. For more information, visit http://www.startout.org. About Launch Angels Launch Angels custom tailors Affinity Venture Funds to your group’s unique structure, investment goals, desired engagement level, and investment process. We work with you to define fund size, budget for each investment, and deal criteria, then handle all management, reporting, filing, and tracking. Follow us @Launch_angels
Press ContactLaunch Angels Nicole Canulla Nicolec@launch-angels.com 617.645.6160
StartOut Jonathan D. Lovitz Jonathan.Lovitz@StartOut.org 954.695.5896