Updated: May 27, 2020
Alleghenies Angel Fund, LLC is a newly organized Pennsylvania limited liability company that is being formed to pool the capital resources and the business connections of investing accredited investors. Alleghenies Angel Fund, LLC will focus on early to mid-stage investments in private companies that demonstrate the potential for sustainable, profitable, growth-capable operations while providing a suitable return for investors.
“There is a new crop of entrepreneurs emerging who are working to grow the next generation of innovative companies - not just start-up businesses but ongoing businesses that can grow. The region needs a point of focus to assist these emerging entrepreneurs with mentor talent and growth capital,”
Alleghenies Angel Fund, LLC seeks investment opportunities in growth businesses in any industry in the Commonwealth of Pennsylvania. Notwithstanding the Fund’s stated goal, Alleghenies Angel Fund, LLC can invest in any business that our Members deem suitable. Ultimately Alleghenies Angel Fund wants to provide equity or equity-like capital to startup and/or expanding companies which will create jobs and promote economic growth in the region while providing our investors with an attractive financial return. The Fund intends to develop a diversified portfolio of high growth companies. If available, a majority of the investments will be located in the Alleghenies.
“There is a new crop of entrepreneurs emerging who are working to grow the next generation of innovative companies - not just start-up businesses but ongoing businesses that can grow. The region needs a point of focus to assist these emerging entrepreneurs with mentor talent and growth capital,” said Alleghenies Angel Fund chairperson Justin Mandel.
An angel group is a group of individual investors (called angel investors or angels) who join together to invest collectively in privately held businesses. The difference between angels and venture capitalists is that while both invest in businesses and take equity (ownership) in those businesses, usually angels invest in seed, start-up and early-stage businesses, while venture capitalists invest in later-stage businesses; angels invest their own funds directly in a business; and angels make much smaller investments ($5,000 to $200,000) per round instead of $2 million and up for venture capitalists.
The Alleghenies Angel Fund will become another resource for entrepreneurs in the Alleghenies Entrepreneurial Ecosystem, dubbed Startup Alleghenies. Startup Alleghenies’ mission is to bring greater economic vitality, talent and jobs to the Southern Alleghenies region by creating a vibrant entrepreneurial ecosystem. Startup Alleghenies is a free program that recruits, coaches and supports entrepreneurs, while partnering with a vast network of economic development groups, private organizations, investors and universities.
Investor members of The Alleghenies Angel Fund may take an active role in assisting or mentoring the companies that receive an investment.