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Boston Globe Angel Investor Article

Boston Globe Angel Investor Article

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Published by: masshousegop on Oct 11, 2012
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10/11/2012

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Start-ups benefit from resurgence of angel investors
ByMichael B. Farrell Start-up funding by angel investors reached $9.2 billion in the first half year of the year, climbing3.1 percent compared with the same period in 2011, according to the Center for Venture Researchat the University of New Hampshire.The amount of money flowing from wealthy individual investors into early-stage companies stillfell short of levels prior to the 2008 economic collapse when angel investments hit $12.4 billion inthe first half of that year.But the sector is recovering, and more angels around the country and in the Boston area areinvesting, said Jeffrey Sohl, director of the Center for Venture Research at UNH, which puts outthe semiannualreport on angel spending. The sector is undergoing “steady and sustainablegrowth,” he said, as individual investors “enter the game cautiously.”Angel investors funded 27,280 ventures in the first half of 2012, a 3.7 jump compared with thesame period last year, at an average deal size of $336,390. The bulk of investments were made inhealth care, software, and biotech. The center said that angel investors have helped create 106,400new jobs this year.Angels are high net-worth individuals who fund start-up businesses often in return for stock.Membership at the Angel Capital Association an Overland Park, Kan., industry group with about8,000 members, has grown recently, and this year it added several new angel groups in the Bostonarea such as Fort Point Angels and TiE Angels Boston.Still, in asurveyreleased last week by the New England Venture Capital Association ,entrepreneurs said the Boston area is lagging behind both New York and California in terms of thenumber active angel investors. Neither the Center for Venture Research nor the Angel Capital Association keep a regional listingof angel groups, but Sohl at UNH said Silicon Valley is far and away the epicenter of the angelinvesting.“Boston has a really high quality angel community, and it will only benefit this ecosystem to havemore angels,” said C.A. Webb, executive director of the New England Venture CapitalAssociation. “Part of how that will happen will be having really successful entrepreneurs who havemoney in their pockets to go invest in rising stars.”That’s starting to happen more often in the Boston area, said Michael Greeley, general partner of the Boston venture capital firm Flybridge Capital Partners. Some of the recent initial public

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