Boston based Launch Angels has announced their first investment for their WHERE Angels Fund (WAF). Klymit, which ran a successful Kickstarter campaign back in 2012 crowdfunding more than $50,000 on the rewards based platform, has now been the beneficiary of an investment from the angel group.
Klymit was raising equity in a series B round on accredited investor site CircleUp when the fund contributed an undisclosed sum of money. As reported in BostInno this is the first of multiple deals that are being finalized by WAF.
In a quote by Shereen Shermak, the CEO of Launch Angels, she stated;
This investment is a major milestone for the company. Our process is turning up exciting deals, the committee is fully engaged and the WAF investors are deeply interested. We originally projected investing the Fund over a period of 12 to 18 months. Given the deal flow we’re seeing, I suspect we might fully invest before then.
Launch Angels wants to “Shake Up” investment practices by focusing on equity crowdfunding offerings. Shermak commented further;
“Crowdfunding is really having an effect on the venture capital space, specifically. For certain sizes of raises and for certain companies that don’t fit the stereotypical mold, it’s been a really good point of access to just get ideas out there,”