| Angel Investor Group Profile |
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The Ohio TechAngel Fund, LLC (OTAF) aims to support emerging technology companies in Ohio by providing seed investment and ace mentoring. The Fund looks for promising, young entrepreneurs whose businesses can sustain growth within a specific time frame and huge potential in widening their market industries. OTAF is also a "sidecar" angel fund -- a capital that invests alongside its network to expand the value of the Fund. This way, more companies are supported and the Ohio business community grows as one of the most dynamic sectors in the country. The Fund primarily focuses on physical sciences, information technology, and life science industries. Investments in consumer-based enterprises such as distribution, innovative service, and retailing are also considered. However, the Fund limits its support to businesses related to apparel, fashion, seasonal products and services, travel, food and restaurants, oil projects, and real estate.
The Fund's network is comprised of more than 100 accredited investors who are committed to develop early-stage Ohio enterprises and guide them in maximizing their potential as technology companies. In addition, the Fund promotes syndication and builds strong bonds with Midwest angel groups, venture capitalist firms, validation funds, and related organizations to further assist in subsequent funding of its portfolio companies. Aside from co-investing with its syndicate groups, the Fund also share the diverse networks of its members.
Interested entrepreneurs must send their executive summaries online. Also, a $250 fee is applicable. Start-up companies are also reminded that the network members do not sign to any non-disclosure agreements because the Fund receives tons of business proposals every year. Thus, valuable and proprietary information must not be disclosed in their executive summaries.
Since its inception, the Fund has already invested in 14 high-growth technology-based companies in Ohio. Its elite list of portfolio companies includes AquaBlok, Cambiatta, ClearSaleing, CleveX, The Drop Spot, Exacter, HTP, Interventional Imaging, Midwest MicroDevices, Minimally Invasive Devices, NanoStatics, PreEmptive Solutions, SageQuest, and SealPak Innovations. Typical seed investment ranges from $150,000 up to $1M plus the management guidance and counseling provided by the network members.
OTAF is an affiliate of the Science and Technology Campus Corporation (Scitech) that promotes the commercialization of technology companies in Ohio and nearby communities. Specifically, Scitech is actively involved in seed and follow-on investments, market analysis, product and service development, professional mentoring, and feasibility studies on various enterprises in the state. OTAF is also a member of the ANgel Capital Association (ACA), North America's foremost organization of angel investment groups.
The Fund was officially launched as an equity investment fund on March 31, 2004. Currently, its network's head office is located in Columbus, Ohio.
Ohio TechAngels Fund Website
The Ohio TechAngels Fund website promotes the development of technology start-up companies in Ohio. Primarily, the Fund offers assistance to aspiring and promising entrepreneurs through capital investment and expert mentoring. In line with this, the site perfectly manifests its network's mission and vision and provides a sufficient rundown of articles regarding its chief operations and affiliate groups. The articles are well-written, conversational, and informative. The investment process is discussed thoroughly and important details such as fees, time frame, and confidentiality agreements are also provided. In addition, the specific factors and elements that should be addressed in the executive summary are explained to guide potential start-ups. On the other hand, the site's resources are incomparable. News stories and business articles are at browser's convenience. It also has a comprehensive list of links to angel groups, umbrella organizations, VC firms, and support groups that are related to the network. Websites of Ohio-based companies and technology centers are also included. For proposal submissions, feedback, and inquiries, OTAF's email address is available on the site as well.
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