The Baltimore Angels, founded in 2009 with the mission to invest profitably while also having a social impact on the Baltimore innovation and start-up community, has continued its growth in both investments and membership over the past year. The group recently surpassed $5M in cumulative investments, $4M of which was invested by the group over the past 2.5 years. $1.7M has been invested in 2015 to date. Furthermore, the group’s membership has grown from 30 members in 2012, to over 50 members today.
Also in 2015, The Baltimore Angels launched a new website design (www.baltimoreangels.com) and brought on their first full-time employee, Michael Tucker, a Baltimore native and a Venture For America fellow.
“We want to lead in Baltimore not only as a premier source of angel investment capital, but also as a mentorship and advisory resource for Baltimore’s many innovators and entrepreneurs” said Greg Cangialosi, Co-Chairman and Co-Founder of the Baltimore Angels. “We’ve drawn an extremely diverse crowd of angel investors from many facets of both the investment and start-up world. We want to make Baltimorean even more attractive place to innovate, raise money, and successfully launch a company.”
A handful of the Baltimore Angels investments include education technology companies such as Allovue and Citelighter, and big data companies such as Yet Analytics. All three companies are Baltimore based.
Citelighter CEO Saad Alam, whose company moved to Baltimore from New York City in 2013, stresses the importance of access to local capital “Without organizations like the Baltimore Angels, entrepreneurs would be forced to look outside of Baltimore to grow their business. That’s not what Baltimore wants, and that’s not what we, as local entrepreneurs, want”. Yet Analytics CEO, Shelly-Blake Plock, agrees, “The Baltimore Angels play a crucial role for early stage companies seeking to grow to the next level”.
Josh Goldberg, Baltimore Angels member and former founding member of Astrum Solar (later acquired by Direct Energy), is excited about the group’s potential“The Baltimore Angels a proven ability to provide the required early stage capital for the Baltimore areas best of breed companies and will continue to help build Baltimore’s start-up ecosystem”.
The Baltimore Angels focus on early stage technology based companies, run by entrepreneurs with a strong vision, and who are typically just beyond a friends-and-family round of funding. The group meets monthly in downtown Baltimore.