[Traverse City, MI – June 30, 2021] Northern Michigan Angels reached another milestone – over $6.6 Million invested in more than 30 entrepreneurial early-stage companies over the last decade.
In the first half of 2021 NMA members invested $538,500 in five early stage Michigan companies – three are current portfolio companies – Atlas Space and Promethient, both located in Traverse City, and Esperovax. Investments were also made in two new companies – PassiveBolt and Claira. .
NMA is actively planning for future growth – new members, new sponsors and the use of technology for members to learn about prospective investment opportunities. To support these efforts NMA launched a totally new website at NorthernMichiganAngels.com. Anyone interested in becoming a member, a sponsor or making a pitch about their early stage company can use the website capability to indicate their interest.
For most of 2020 and the first half of 2021 pitches by business founders continued regularly and successfully using technology – mostly Zoom. With a computer and access to the internet members and presenters can participate no matter where they may be located at the time of a scheduled pitch presentation. In June pitch presenters and members participated in-person and virtually. Current plans are to realize the benefits and continue this approach for the foreseeable future.
Current NMA membership stands at 44 members. To support the geographically expansive membership efforts, a new ad was created by Idea-Stream which appeared in the July 2021 issue of Traverse City Business News (TCBN). Both are Traverse City businesses and are among our seven valued sponsors displayed prominently in the ad.
About Northern Michigan Angels (www.NorthernMichiganAngels.com)
Northern Michigan Angels (NMA) was founded January 2012 and is a 501 (c) 6 non-profit. Members invest in scalable entrepreneurial companies whose potential success will have an economic and quality of life impact in Michigan, especially in northwestern Lower Michigan. Each member makes their own investment decision. NMA is not a fund and does not provide investment advice. NMA is a member of the Angel Capital Association (ACA).
