NextGen Angels closes $1M financing, announces expansion plan
Young entrepreneurs join forces to invest in next generation of great companies in their cities
WASHINGTON, May 4, 2015 /PRNewswire/ -- NextGen Angels, an early-stage investment network of young entrepreneurial leaders, announced its plans for national expansion today, along with the close of a $1 million round of funding.
Founded in Washington, D.C. in July 2012, NextGen Angels began as an informal group of young investors seeking to fund local startups, with the goal of becoming the most entrepreneur-friendly angel investors in the world. Today, the group has invested in 12 companies and it includes some of the region's most well-known entrepreneurs.
Given the enthusiasm from investors and the start up community, NextGen Angels is expanding its concept of unifying young investors and promising entrepreneurs to select U.S. cities, with the goal of one day being in 100 cities around the world.
"We combine the best of a traditional seed-stage fund with a vast network of young entrepreneurial leaders working hard for our portfolio companies," said NextGen Angels founder and CEO Dan Mindus. "We intend to invest in the best startups coming out of cities all over the world."
In order to expand its concept of fueling local start ups, NextGen Angels closed a seed round of its own, with funding coming from notable local entrepreneurs and investors, including Blackboard co-founder and former CEO Michael Chasen. With this funding, NextGen Angels is pursing its plans of expansion, targeting New York, Boston, Chicago, Austin, and several other cities in 2015.
"NextGen Angels presents a differentiated experience vis-a-vis other investors," said Michael Chasen, now CEO and founder of SocialRadar. "Its membership is highly intelligent, giving and founder-friendly, and as a result the group sees compelling investment opportunities. I'm excited to see this model replicated in other cities, given the unique value proposition NextGen Angels offers to investors and entrepreneurs alike."
Along with the announcement of its expansion, NextGen Angels has appointed two new managing directors: Kelsey Morgan in New York, and Chris Keller in Boston. Prior to joining NextGen Angels, Kelsey was a Director at TechStars in New York City, where she managed the R/GA Connected Devices Accelerator, the Disney Accelerator, and the Kaplan EdTech Accelerator. A graduate of the Harvard Business School, Kelsey has an extensive background in acquisitions and early-stage investing, including experience with Interpublic Group and The Carlyle Group.
A serial entrepreneur, Chris Keller has a background in product development and technology. He has a degree in Computer Science from Virginia Tech, and has started several tech companies in Boston, including Followup.cc, which was acquired by Argon Technologies. In addition, he has been an active angel investor and advisor to start ups in the Boston community.
About NextGen Angels
NextGen Angels is a community of young and influential angels who invest in exceptional entrepreneurs and their companies. Our members leverage their collective expertise and connections on behalf of the NextGen portfolio to help build the next great companies of the future. NextGen Angels is currently in NYC and DC, and expanding to Boston, Chicago, Austin and other cities in the US, with the goal of becoming one of the largest and most influential early stage investors in the world. For more information, visit http://nextgenangels.com.
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SOURCE NextGen Angels
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