The Buffalo Angels, a group that invests in high-potential startups in the Western portion of Upstate New York, made a record-setting number of investments in first quarter of 2021. This followed a strong 2020 in spite of disruptions caused by the COVID-19 pandemic.
Buffalo Angels invests through both its member-managed funds and individual investments by its members. Members are individuals that meet income or net worth requirements set by the U.S. Securities & Exchange Commission to qualify as Accredited Investors. Insyte Consulting coordinates the group’s activities.
Buffalo Angels have invested a combined $290,000 year to date in 2021. Companies receiving investment were Patient Pattern, Inc., ShrubBucket, Inc., Garwood Medical Devices, LLC and Buffalo Braid Bar, LLC dba braidbabes. Each of these companies received funds from other investors in addition to the money provided by Buffalo Angels. Buffalo Angels also achieved a successful liquidity event during the quarter when ClearView Social was acquired.
In spite of the pandemic, Buffalo Angels had a busy 2020 including:
- Investing $597,000 in five companies – Circuit Clinical Solutions, Inc., PostProcess Technologies, Inc., CleanFiber, LLC, Kickfurther and 3AM Innovations, Inc.
- Completing the offering of membership units in its second fund, Buffalo Angels II, LLC, raising almost one million dollars to be invested in local startups.
- Holding regular monthly Buffalo Angels meetings via Zoom, with no drop off in average attendance.
Buffalo Angels welcomes new members who are interested in considering investment in local startups and who meet the Accredited Investor criteria. Visit http://www.wnyventure.com/buffalo-angels or contact Jack McGowan at jmcgowan@insyte-consulting.com for information about the group.
Insyte Consulting also coordinates meetings of the Western New York Venture Association. WNYVA meetings feature presentations by local startup companies and include networking among entrepreneurs, investors and members of the business community. The next WNYVA meeting will be on May 12 from 8-9 AM via zoom. Click here for details and registration.
