TLDR:
– Alliance of Angels is raising a new fund to support startups in the Pacific Northwest.
– The fund will be the third annual “Innovation Fund,” expected to raise around $1.3 million to $1.9 million.
Seattle-based investment group, Alliance of Angels, is preparing to launch their third annual “Innovation Fund” to provide support for startups in the Pacific Northwest. The fund raised $1.3 million initially and $1.9 million for the second fund. Eric Larsen, vice chairperson of AoA, mentioned that the fund will invest in around 14 companies, mainly focusing on startups in the Pacific Northwest, but also considering companies across the U.S. and Canada. The fund is sector-agnostic, with a significant portion allocated to life sciences investments. Through the fund, AoA aims to provide an opportunity for new members to explore startup investing, especially amidst a venture capital downturn which has affected early-stage investments. AoA’s network of nearly 200 angel investors plays a key role in decision-making for investments, with returns distributed based on individual investment amounts. The fund’s purpose is to promote due diligence among investors and to assist new angels in making investments.
