|Venture Fund Member Profile
Boston Harbor Angels is a group of proven business leaders interested in investing a portion of our assets in high growth, early stage companies. The group was formed in February 2004 and since then has made a number of investments in companies in medical devices, IT, consumer products, business products, specialty materials, Internet, aviation, etc. We believe we contribute more than money to the companies we fund and welcome the opportunity to work with entrepreneurs open to take advice, yet having the smarts and determination to make the company successful.
Our focus is on early stage companies usually looking to raise $250K to $1.5M, where we can fund a portion of the round and syndicate the deal with other angel groups or early stage venture funds. The stage of the company should be close to commercialization, while the company should have a clear and defensible competitive advantage. We are looking for capital efficient businesses, which can reach profitability with less than $5M of equity investment and provide at least 10X return on the investment within 5 years.
We do not invest as a fund - each of our members makes his or her individual investment decision but we collaborate in Due Diligence. We have a deep expertise in the life sciences field where we usually take the position of a lead investor, but are open to any opportunities that can make a strong business case. In some cases we prefer to be the follow on investor if we cannot identify a person with strong expertise within our group.
We receive 20-30 business summaries each month, out of which we select 8 companies to make a personal presentation to our screening committee. The screening committee consists of volunteers from the group. The presentations are 10 min long followed by 10 min Q&A. 4 of the companies are invited to present to the whole group, with the idea to get the people interested and decide to perform a Due Diligence with the companies before making an investment.
Boston Harbor Angels
Mic (Michael) Williams has been an investor for over 34 years. Whereas his primary investments and have been in commercial real estate; his previous private investments have included manufacturing, mining, movies, lumber products, ships and a television enterprise. Since he founded the Boston chapter of Keiretsu Forum in 2004 and then Boston Harbor Angels in 2006. He has invested in eleven of the “portfolio” companies.
He has served on many, public, private, and charitable boards including United Way (a past Campaign Chairman, Tucson) Boy Scouts, YMCA and the International Boys Club (NYC).
He spent 18 years with Coldwell Banker Commercial Group as a salesman, CA.; VP Resident Manager, AZ; and SVP Regional Manager, Board member in NY.,NJ.,CT. He left to join Aries Enterprises as President of a large scale land development company in Colorado and Arizona and involved in the planning, development and sales of major planned communities. He was a Managing Director of Landauer (a NY real estate consulting firm) and also provided real estate investment banking services with a small private firm in NYC.
He continues to do real estate investing, consulting, and funds raising for commercial real estate projects. Mr. Williams has been a featured speaker in the US, UK, Asia, and Africa on real estate and more recently featured in different venues as a speaker, moderator and panelist on “angel investing”.
His real estate views have been quoted in such publications as the WSJ, NYTimes, LATimes, Barrons, and Business Week.
||Cannuflow Incorporated (CFI) develops and markets advanced medical devices that help healthcare professionals more effectively manage fluid management performance during arthroscopic surgery. |
||Zoomsystems ZoomShops have access to the best brands in the world, allowing locations to differentiate themselves by enhancing the consumer experience with a totally unexpected “wow” factor that can attract new users. |
||Power Play Development Corporation is the parent company of Poker Creations, a gaming software development company and National League of Poker (NLOP.com), the Internet's leading poker-centric social media portal. The Company was founded in 2004 to target the US-legal online poker market. |
||GateRocket is the only company that focuses exclusively on verification and debugging solutions for today's most advanced FPGAs. |
Mic participated in the FundingPost event: Boston VC and Angel Conference
on Wednesday, May 19, 2010 in MA, Sponsored by Bingham McCutchen LLP
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|Venture Fund Member Profile|