Alliance of Angels, the premier angel group which invests more than $10 million annually in Pacific Northwest startups, has closed $5.3 million in fresh capital for a new seed fund. Top regional investors including Madrona Venture Group, Trilogy Equity Partners and Voyager Capital, as well as Geoff Entress, Linden Rhoads, Michael Schutzler, Steve Singh, and more than 40 others have joined in to help build the next generation of game-changing companies here in the Pacific Northwest. The fund is capped at $10 million and is still open to investors.
According to Yi-Jian Ngo, Alliance of Angels Managing Director, “The new fund is a boon for area entrepreneurs because it will invest alongside the Alliance of Angels group, increasing the check size that entrepreneurs can expect to raise, and adding to the $10 million that the group already invests into more than 20 companies each year.”
Alliance of Angels has deep roots in the area and an impressive investment track record which has drawn the area’s premier investors to both this fund and the group. Since its inception in 1997, the group has invested $100M into 200+ companies and achieved more than 30 exits. Over the last 10 years, the group’s aggregate internal rate of return has exceeded 20%. Past investments include Clarisonic, DocuSign, Elemental Technologies, Geospiza, Julep, Insitu and SNAPin.
Super-angel Geoff Entress stated, “The Alliance of Angels fund brings together deep pockets and a wealth of early stage investor talent to catalyze the thriving Pacific Northwest entrepreneurial market. I’m excited to be a part of this fund and look forward to helping our very best founders succeed on their entrepreneurial journeys.”