What a year 2020 has been!
Despite the challenges brought on by the global pandemic, Archangel Network of Funds announced its debut through the launch of its COVID-19 Leadership Initiative. Since the initiative’s inception in Spring 2020, Archangel received approximately 50 funding applications from start-ups working urgently on solutions to mitigate the devastating health, social, and economic effects of the global COVID-19 pandemic.
Of the 50 applications received, Archangel General Partners conducted due diligence on 20 of the most promising start-ups. Through the summer, we were in negotiations with six of the best companies that survived the due diligence process. Archangel Network of Funds is excited to share that three investments have now closed, bringing an exciting conclusion to the COVID-19 Leadership Initiative.
Each of the three funds within Archangel (Adrenaline, Axion, and StarForge) are actively raising money from accredited investors, with a goal to close early in 2021. And the good news is that even investors who join any Archangel fund in this closing, will have all 3 COVID-phase companies in their portfolios.
Beginning January 2021, Archangel Network of Funds will continue to build the portfolio of companies for Adrenaline, Axion, and StarForge funds according to each of their own investment theses. Each of these funds will be looking for early stage start-ups with ground-breaking innovations in sectors that are not restricted to COVID-19 products or services. Please contact any Archangel GP to learn more.
