Top 10 angel investors in Pennsylvania [2023]

Pennsylvania is home to some of the most prestigious universities, medical centers and research facilities in the world. It’s also a great place for entrepreneurs to set up their businesses here: there are plenty of funding opportunities for startups as well as established businesses looking for capital. Here are ten angel investors you need to know if you’re looking for funding in Pennsylvania.

1. Newsprint

Newspring is a venture capital firm that focuses on start-up companies. The company has invested in more than 100 companies since its founding in 2013, including Stitch Fix, FanDuel and Indiegogo. Newspring has offices in Philadelphia, Pittsburgh and New York.

The company was founded by two brothers, Michael and Steve Case. The Case brothers were inspired to start newsprint because they saw a need for early-stage venture capital firms that focus on investing in women and minority-led businesses.

2. Confluence Technologies

Confluence Technologies is a venture capital firm specializing in early-stage investments in companies that leverage technology to solve problems plaguing the healthcare industry.

In 2018, Confluence Technologies invested million in Evidation Health, a company that leverages data analytics and machine learning to help healthcare providers improve their standards of care and reduce costs.

This was Confluence’s first investment since its initiation as a venture capital firm. Previously, it was an angel investor with investments in several sectors, including healthcare, manufacturing and financial services. Their portfolio companies include:

3. Enertech Capital

Enertech Capital is a venture capital firm that invests in early-stage companies in the energy and information technology sectors. The company, founded in 2000, has offices in Pittsburgh and New York as well as San Francisco.

Enertech’s investment strategy focuses on energy technologies with high growth potential and attractive market niches to help create value for investors, startups and customers. The company’s current portfolio includes more than 50 companies in several sectors, including renewable energy generation, storage and distribution; technological services; and Smart Grid Infrastructure Solutions.

4. Wharton Alumni Angels

The Wharton Alumni Angels (WAA) is a collaborative network of angel investors who have raised over billion in aggregate capital since its inception. Since 2002, they’ve invested in over 100 startups, completed 50 exits, and helped 300 entrepreneurs succeed. This active group is made up of over 100 investors and mentors who are actively involved in their portfolio companies.

The WAA was also influential in creating the industry standard for angel groups through their work on the National Capital Association’s Angel Association Tax Credit Task Force and through the launch of the legislation that created the Angel Pennsylvania tax credit program.

5. The Hillman Company

The Hillman Company, headquartered in Pittsburgh and founded by investment expert John Hillman, is an angel investor that provides financing to small businesses in the technology sector.

The company typically invests between 0,000 and million per deal. Angel investing isn’t just for tech startups; It can also be a good fit for other industries.

If you want to apply for funding through the Hillman Company, consider reading how to write a business plan here.

6. Prestige Investment Group

Prestige Investment Group is a private equity and venture capital firm with over billion in assets under management. The company has invested in more than 100 companies in the United States and Europe, including some of the most recognizable names in high technology, including 37signals (makers of BaseCamp), ExactTarget (now Salesforce Marketing Cloud) and Bridgewater Associates.

Prestige also has a long track record investing in healthcare startups, having backed companies that have gone public or been acquired for a billion dollars.

7. Stone technology partners

Peak Technology Partners is a venture capital firm that invests in early-stage technology companies. Founded in 2016, Peak Technology Partners has offices in Pittsburgh and Chicago. The company was formed as the holding company of Peak Ventures, LLC, which has invested in more than 70 companies since its founding in 2000.

Peak Technology Partners’ investment strategy focuses on Session A and Series A rounds for primarily US-based startups, but also considers international offerings when there is a compelling reason to do so. Typical investment size ranges from 0,000 to million per deal with a preferred valuation range between million and million post-money (depending on cash/equity mix).

8. Granite State Capital Management, LLC

Granite State Capital Management, LLC is a venture capital fund that invests in early-stage technology companies. The firm was founded in 2012 by Jim O’Neal, who has over 25 years of experience in the venture capital industry.

Granite State Capital Management has invested more than 0 million in early-stage technology companies since its founding, according to Crunchbase. The fund is backed by several large institutional investors such as Comcast Ventures and Fidelity Investments. A notable holding company is mobile marketing platform Tapinfluence Inc., which raised million from Granite State Capital Management and other venture capital firms in 2014 and then went public three years later. during one of the hottest IPOs by an AD Tech startup at the time (read at the time (read at the time (read: Snap Inc.).

9. Next Act Fund

Next Act Fund is a non-profit organization that seeks to create jobs and stimulate the economy by financing start-up businesses. The fund has invested nearly million in startups since its inception in 2016. It invests directly in startups with female founders, minorities, and veterans, as well as those creating new markets for consumer electronics. energy, urban sustainability or healthcare innovation. The fund also supports local businesses through its small business innovation research program called Prototype 2 Prove (P2P).

The Next Act Fund partners with entrepreneurs through incubation programs at its headquarters in the Northern Liberties neighborhood of Philadelphia or at one of its satellite locations across Pennsylvania, including the neighborhood of Pittsburgh Bakery Business Park and Erie’s Bayfront Convention Center Business Park. The Fund also partners with organizations such as Startup Institute to provide skills training to aspiring entrepreneurs who may not have access to capital due to their financial situation or geographic location.

10. Capital L2

L2Capital is a venture capital firm that invests in early-stage companies. The company has a strong track record of success in the industry and is based in Philadelphia, Pennsylvania. L2Capital specializes in investing in high-growth companies that require capital to reach their full potential.

The firm’s expertise lies in providing funding for startups that are just getting started or have already launched but are looking for additional funding so they can expand operations and gain market share. In addition to providing money, angel investors also offer advice on how best to grow an entrepreneurial business so that it can become more profitable over time.

Conclusion

As you can see, there are a lot of angel investors in Pennsylvania. The state is home to a number of innovative and exciting startups seeking funding, as well as established businesses looking to expand their operations with investment. Whether you are interested in investing in software development or manufacturing technology, there are many options available to those looking to get involved in startup ventures through this type of funding model!