BIRMINGHAM – Birmingham Angels, part of CitySide Ventures, invested $518,000 in startups from September to December 2019.
“We are noticing a significant increase in the level of participation from the money that was sitting on the sideline for the longest time,” said David Weaver, Chief Investment Officer for CitySide Ventures.
“Part of it we attributed to the variability and the growth of the local Michigan economy and no small part to the backroom structure and support we have created to accommodate our members and facilitate their participation. We are delighted to see the early-stage space growing and we need more people that are willing to be a part of this “Movement” to put Michigan on the map.”
Birmingham Angels consists of successful business executives and high net worth individuals from Oakland County, has already established that they are players in the angel investing asset class in a very short period of time.
From September to December of 2019, they have conducted three monthly Investors Showcases which CitySide selected 15 fully vetted companies with 5 of them received funding and1 in the process of receiving funding – an impressive 40 percent success ratio.
Weaver said he expects 2020 to be an even stronger funding year for Birmingham Angels members with the group growing in size every month, and many new exciting companies coming out of the Michigan startup ecosystem.
City Side Ventures is a driven venture group comprised of experienced business builders, die-hard serial entrepreneurs, disrupters, innovators, and technologists.
For more information about CitySide Ventures or membership information in Birmingham Angels, please visit our website at https://citysideventures.com/birmingham-angels/