Entrepreneur support organization TiE Atlanta, a non-profit that connects and incubates founders at all stages of the company lifecycle, now has an angel investment group to provide more capital for those entrepreneurs to grow. TiE Angels will co-invest in startups raising their seed and Series A rounds.
Amyn Sadruddin of TiE says the group already has about three dozen members.
“Several TiE chapters had successfully been running angels programs in their communities, and TiE Global had launched an initiative to enable chapters to create and build their angels programs in keeping with the mission of ‘fostering entrepreneurship globally,'” says Sadruddin. “Investing in startups was a natural progression for TiE Atlanta which is one of the top chapters in the world.”
The group is industry-agnostic, though they focus on tech-enabled products and services. TiE Angels aims to be a co-investor and is seeking deals between $250,000 to $2 million where at least half of the total has already been committed by an accredited lead investor. They’re aiming for 4-6 deals a year.
The fund invested over $400,000 in three deals in 2017, with the most recent investment in the seed round of Techstars Atlanta graduate 2ULaundry, a laundry services and delivery platform. They have also invested in Atlanta startup BWHealth and are looking into another deal right now, says Sadruddin.
TiE members can join the Angels by paying an initiation fee of $500 and committing to invest in at least $10,000 in their first year. They must be accredited angel investors.