(Photo by Flickr user Susan, under a Creative Commons license)
“Broad Street Angels” is not the name of a counterculture group from the sixties but rather the moniker taken on by a newly-formed group of angel investors based out of the Union League of Philadelphia.
RoseAnn Rosenthal, president and CEO of Ben Franklin Technology Partners, will chair the group of Angel Capital Association-certified members, which has been in the works since the spring of last year.
“Our group is uniquely qualified because of its ability to harness the extraordinary insight and expertise from a dynamic membership of top-level executives representing widely diverse industries and backgrounds,” Rosenthal said in a statement..
The Angels have not made any investments so far, as the first deal review meeting will be held on February 2. Although investors hoping to join must also be members of the Union League, all companies are welcomed to pitch.
“Most likely tech investments in all areas will be a big part of what we review and select to invest, as most of our executive committee has significant experience and feels very comfortable in this area, whether IT or devices or science,” communications chair Leo Levinson told Technical.ly.
Here’s the lineup of the group’s officers:
- Bob Ciaruffoli, former managing partner of Baker Tilley, Vice Chair
- Katherine O’Neill, executive director of JumpStart New Jersey Angel Network, Secretary
- John Rigaut, Managing Director of JTR & Associates, Treasurer
- Doc Parghi, partner with SRI Capital, Membership Chair
- Chris Topolewski, principal & advisor of West Capital Management, Membership Chair
- Eric Rugart, CEO of Feta Med, Program Chair
- Jerry Johnson, president & CEO of Axum Advisors, LLC, Deal Review Committee Chair
- Leo Levinson, CEO of GroupLevinson Advertising, Communications Chair
- Mark Henderson, founder & principal of Grayline Partners, Organization Chair
Per the Inky’s Joe DiStefano, the group’s investment size will likely be in the six-figure range, as angel groups usually stick to a smaller range than traditional venture capital firms. Levinson confirmed that a low-to-mid six-figure range is probably where the group will stay.
Philadelphia is having its best year for VC deals since 2000
These startups won big money at PACT’s live, ‘Shark Tank’-like pitch event
Money Moves: These 5 Philly-area companies just raised millions in VC funding
How Relay is helping enterprise clients get proactive about customer engagement
What’s slowing a wider adoption of impact investing?
Data analytics startup Crossbeam just raised a $12.5M series A
Ben Franklin Tech Partners just invested $1.75M from its new GO Philly Fund
These hiring companies want to meet you at NET/WORK Suburbs
Sign-up for daily news updates from Technical.ly Philadelphia