TLDR:
- Flywheel Fund boosts Bloomington’s startup ecosystem by providing angel and venture investing opportunities.
- They have invested over $3 million in 50 portfolio companies from various industries since 2020.
Bloomington’s startup ecosystem is receiving a significant boost from Flywheel Fund, a member-managed fund that offers individuals the chance to engage in angel and venture investing. With a relatively low buy-in, members gain access to a diversified portfolio of local and regional startups and participate in the monthly process of reviewing and voting on potential investments.
Flywheel Fund, launched in 2020 by The Mill, has already invested over $3 million in more than 50 portfolio companies across different industry verticals such as EdTech, AI/ML, HR Tech, SaaS, Cybersecurity, AgTech, and HealthTech. The fund is currently raising and investing out of its fifth fund, with investments in companies like Bereave and Habits.
Angel investing not only provides a financial return to investors but also benefits the local entrepreneurial ecosystem in several ways, including funding for early-stage startups, mentorship, economic growth, innovation encouragement, network building, attracting further investment, community engagement, and role modeling. Moreover, Flywheel Fund supports several Mill programs by investing directly in participants, such as Startup Summer.
Overall, angel investing plays a crucial role in strengthening and growing a local entrepreneurial ecosystem by providing capital, expertise, and support that drive innovation and economic progress. To learn more about Flywheel Fund, visit their website or contact Eric Steele.
