Hello friends of Asheville’s Startup Community:
Asheville Angels is the angel investor group formed by Venture Asheville to fund startups and early-stage ventures in Asheville and across the Southeast. It’s a core component of the Venture Asheville strategy to help transform Asheville into a top location for world-class entrepreneurs pursuing high-growth ventures. As we complete our first year of operation, here’s a quick update regarding our investor group’s progress.
In October 2014, we launched Asheville Angels with 25 founding members and a first year goal to complete 5 to 6 investments. To date, we’ve grown the group to 50 members and have successfully completed 5 investments:
- Plum Print – turns piles of children’s artwork into elegant coffee table books.
- Baebies – patented platform to more effectively screen newborns for inherited disorders.
- ActivED – movement-based lessons and videos for classrooms to accelerate children’s learning and improve health.
- RivalHealth – corporate wellness programs that drive employee engagement through personalized exercise and nutrition plans.
- PharmRight – maker of Livi, a fully automated home medication dispenser that simulates an on-site caregiver through Internet-enabled, remote oversight.
Overall, over 60 startups applied for funding through Asheville Angels in year 1. Of those, 31 startups were invited to pitch the membership. 11 advanced to our due diligence phase. The five noted above successfully navigated the full process. We’re excited about their businesses.
In year 1, we also provided our members and the broader startup community educational seminars to enhance their knowledge of the angel investing process:
- Valuation of Early Stage Investments
- Understanding Investment Term Sheets
- Pitching Angel Investors
- Understanding investment Cap Tables (to be held on Thursday, October 22nd – see details).
As we embark on year 2, we will continue to focus on investment deal-flow and process, sourcing the most innovative and promising young companies from Asheville and the Southeast. We will provide educational opportunities to raise the capabilities of the investor group, and we will have fun.
Thank you for being a supporter of Asheville’s efforts to become a top destination for high-growth ventures. We look forward to an exciting year ahead!
Warmly,
Josh Dorfman
Director, Venture Asheville
Managing Director, Asheville Angels
