In its first eight months of operation, Asheville Angels investor pool has provided more than $200,000 in capital toward three start-up companies, the latest of which are ActivEd Inc. of Greenville, S.C., and Baebies Inc. of Durham. The group is composed of more than 40 members who meet each month to “evaluate, invest in and support early stage companies” across the Southeast.
Here is the full release from Asheville Angels:
Asheville Angels, a group of angel investors formed in 2014 to invest in startups and high-growth companies in Asheville and across the Southeast, today announces its two latest investments, in ActivEd Inc. and Baebies Inc. Following on the heels of the group’s January investment in Asheville, North Carolina-based Plum Print, Asheville Angels has now collectively invested over $200,000 into three startups in just its first eight months of operation.
Asheville Angels is comprised of over 40 members who meet monthly to evaluate, invest in and support early stage companies. “We have been thrilled by Asheville’s enthusiasm for the group,” said Josh Dorfman, Managing Director of Asheville Angels. “Individual investors across our community continue to join and are already seeing, and investing in, compelling investment opportunities – both from Asheville and from across the southeast.”
These investments were collaborations with partners across the southeast, primarily the angel groups in the South Carolina Angel Network, with which Venture Asheville launched Asheville Angels last year. “Angel groups usually need to find partners to fully fund an angel round,” added Dorfman. “Our relationship with SCAN, which operates six angel groups in the Carolinas, means we see more varied and more attractive deal flow, can use wider expertise to evaluate and structure investments, and, most importantly, can more fully and efficiently fund early capital rounds. This allows companies to focus on growing their business rather than finding investors, and allows our investors to make attractive returns.”
ActivEd, based in Greenville, South Carolina, has developed a dynamic online tool that helps students better understand required curriculum standards through kinesthetic (movement-based) lessons created on its “Walkabouts” platform. Based on the published research of Furman University Professor Julian Reed, a leading authority on kinesthetic learning, ActivEd is already selling the Walkabouts platform to schools across the U.S.
Baebies, based in Durham, N.C., provides screening and testing for newborns to help identify rare but treatable diseases. The company uses a unique and patented “digital microfluidics” technology that allows liquid to be moved around using digital software rather than hydraulics. Baebies sold over 230,000 tests so far in 2015 and is already saving lives.
ActivEd is not the only educational activity for Asheville Angels this month. On May 28, Asheville Angels is offering a workshop to explain capitalization tables, the underlying structure of business ownership. This workshop is open to investors and anyone thinking about raising money for their business, to help them understand how different forms of capital affect the balance sheet of your company. More information is available VentureAsheville.com. To attend an upcoming meeting of Asheville Angels please visit www.ventureasheville.com/angel-investors.
About Asheville Angels:
Asheville Angels is a professionally managed angel investor network that finds and funds innovative startups and high-growth companies in Asheville and across the Southeast. Formed in 2014, members meet monthly to evaluate investment opportunities in promising scalable, high-growth ventures. Membership is open to all investors that satisfy the SEC’s rules on accreditation. Asheville Angels is a partnership between Venture Asheville, the high-growth entrepreneurship initiative of the Economic Development Coalition for Asheville-Buncombe County, and the South Carolina Angel Network, an operator of angel investor groups and funds across South Carolina and Western North Carolina. To learn more about Asheville Angels visit www.ventureasheville.com/angel-investors.About Venture Asheville:
Venture Asheville creates and connects trusted networks of entrepreneurs, investors, and mentors who collaborate to build high-growth ventures. It acts as a hub for entrepreneurship events, resources and education. Venture Asheville brings visibility to Asheville’s unique startups, talent pool, and culture and shares this information within our own community and with the wider global marketplace. Learn more at www.ventureasheville.com and follow us on Twitter at @VentureAVL.
Before you comment
The comments section is here to provide a platform for civil dialogue on the issues we face together as a local community. Xpress is committed to offering this platform for all voices, but when the tone of the discussion gets nasty or strays off topic, we believe many people choose not to participate. Xpress editors are determined to moderate comments to ensure a constructive interchange is maintained. All comments judged not to be in keeping with the spirit of civil discourse will be removed and repeat violators will be banned. See here for our terms of service. Thank you for being part of this effort to promote respectful discussion.