Launch Angels recently launched three private venture funds in New England to help alumni invest in companies connected to their schools. One fund will invest in Dartmouth-led companies, another will back University of NH-led companies, and the third will support Yale-led companies. The funds are part of a series managed by Launch Angels Management Co., LLC, whose mission is to make it easy for alums to band together to invest in companies with a connection to their schools. The funds are private, for-profit, and not affiliated with nor endorsed by the colleges or universities.
Today's launch builds on the debut earlier this year of Green D Angels fund focused on Dartmouth-led companies, the first in the Launch Angels series. Raising $1.5 million from 44 Dartmouth alums, this fund has already invested in 10 deals in industries as diverse as ed-tech, SaaS, consumer electronics, fin-tech, and more.
"We aim to do well and do good. It's difficult for the average alumni investor to acquire holdings in a venture portfolio without a huge investment of time and money. We make it easy—and interesting. We also are trying to do good by supporting the school's entrepreneurial ecosystem and putting our funds behind the next generation of Dartmouth entrepreneurs. It's a win for investors, entrepreneurs, and the college or university," says Michael Collins, lead manager of the Green D Angels.
Tom "TK" Kuegler and Mark Kaplan, lead managers of the fund focused on UNH-led companies, www.BlueCatFund.com, see an additional benefit. "We'll be looking for companies managed or heavily backed by UNH people—alums, faculty, or administration. But we also hope to identify investments that have a very strong local benefit to New Hampshire," Kuegler says.
The Green D Angels and BlueCat Angels are in active fundraising mode and anticipate closing their funds in the next three to six months. The Yale-focused fund, Blue Ivy Ventures, spearheaded by Lead Manager Orlando Mendoza, is just kicking off and expects a Q1 2016 close.
After closing, each fund anticipates investing in about 15 to 25 companies over the next two to three years. All three funds are available only to accredited investors who have submitted the background materials required by the Federal securities laws.
Current Issue - May 2024