NuFund Venture Group, an angel investing group that supports early stage ventures, says it has invested $5.6 million in its 2023 Annual Fund.
The angel group reports 350 investor members who backed 17 early stage firms.
NuFund says its “Venture Group” fund model, combines the strengths of both angel investing and venture capital. Nufund taps its collective expertise of experienced investors to assist portfolio firms thus boosting chances of success. While the fund backs a company, individual investors may make their own investments increasing their position in these firms.
Kate Dilligan, CEO of Cooler Heads, a Nufund portfolio company, says the angel group goes beyond financial support and extends to hands-on assistance with her firm. The reputation of Nufund also helps to raise growth capital from other groups.
Heather Slotnick, Board Member at NuFund Venture Group, says their members drive impactful investments. Their model ensures “faster, smarter investor decisions.”
“We are also committed to increasing diversity, both within our investor members and our portfolio companies, by actively supporting female founders and underrepresented groups.”
NuFund recently reached a milestone, completing its 100th investment across the first six Annual Funds.
NuFund Venture Group reports several exits already realized within its Annual Funds, including DTx Pharma which was acquired by Novartis for $1 billion in 2023.
Other highlighted exits include Habitu8, a Hollywood-style cybersecurity training startup acquired by Arctic Wolf and Paradigm Diagnostics, a company specializing in cancer testing, acquired by Exact Sciences.
Supporting early stage firms is vital for the economy, driving innovation and prosperity. Currently, the Securities and Exchange Commission is looking to undermine angel investing with new rules which would harm entrepreneurship and opportunity in the US.