Phoenix, Scottsdale and surrounding areas have a new group of angels in town ready to invest in the latest and greatest tech startups in the region. The Biltmore Angels was founded by a local group of Arizona State University Alumni. The group plans on investing in high potential startups and early stage companies in the immediate Phoenix area as well as the rest of the state. The Biltmore Angels will also work closely with ASU to provide investment opportunities to ASU spinouts and select companies for the Venture Catalyst program.
“Lack of access to early stage capital has been an age-old problem in Arizona for most of our home-grown start-ups”, said Charlie Lewis, founding principal of Biltmore Angels. “We look forward to providing a new venue for our State’s most promising companies to showcase their wares in front of active Arizona investors”.
The partners in The Biltmore Angels have a wide range of business experience in the areas of investment, finance, business development and law. Tom Connelly is President and Chief Investment Officer for Versant Capital Management. Charlie Lewis is Vice President of Venture Development for Arizona Technology Enterprises. The third member, Michael Hool is the Managing Partner at the Hool Law Group.
Nibletz spoke with Biltmore Angel Michael Hool who told us that they are offering mentorship through their partnership with TiE Arizona and Venture Catalyst and that they are looking to offer mentorship as part of the Biltmore Angels in the coming months.
“We look forward to engaging investors who have not previously been involved in organized angel investing processes.” said Hool in a release. “The idea of the Biltmore Angels is to provide another forum to connect not-previously engaged investors with each other and to the other state and regional angel groups for collaborative investments”.
“The formation of the Biltmore Angels is an incredible opportunity for startups in Arizona,” said Gordon McConnell, Executive Director of ASU Venture Catalyst, an early partner of the Biltmore Angels group. “Every client that the Venture Catalyst team works with needs assistance with finding and accessing funding and by partnering with the Biltmore Angels we will be able to provide those needed angel investment opportunities for our startups. That is an incredible value-add to the startup scene in Arizona.”
Arizona was recently named one of the fastest growing states in the country for startups.