[ibimage==47104==Original==none==self==ibimage_align-center]Angel investors who are drawn to early-stage impact companies now have a network to join in Chicago.
Impact Engine, an investment fund that has invested in 23 such companies since its launch in 2012, announced today the Impact Engine Angel Network. The network begins today with 16 members, including GrubHub co-founder Mike Evans, Exelon Chief Information & Innovation Officer Sonny Garg, and TCS Group Chief Investment Officer Priya Parrish. Accredited investors interested in joining the network can attend information sessions in June.
“We realized that while we’ve done a nice job in our first three years building and supporting a group of companies there was a lot more that we could do to support the investor side,” Tasha Seitz, Impact Engine’s Chief Investment Officer, said. “Angel investing can be a lot of work and it can be a sort of very lonely sport, and so we think it’s better played as a team sport.”
Investors who belong to the Impact Engine Angel Network will receive early access to companies that go through Impact Engine’s pre-seed accelerator and Seed+ program. The network is an effort by Impact Engine to continue to empower for-profit businesses taking on social and environmental issues. The 23 companies Impact Engine has invested in employ more than 150 people and have received $22.4 million in additional financing.
Network members will also have opportunities to attend workshops, seminars and speaker series. Seitz said the topics will be drawn from three different flavors: angel investing, impact investing, and expert talks on areas of interest, such as education, economic empowerment and health.
To be approved, investors must be accredited and must be serious about being active investors. Members will pay a $1,000 annual membership fee, Seitz said, though the fee will be waived for those that join prior to Jan. 31, 2016.
“Our goal is really to create a strong, committed group of impact angel investors at the core of the network,” Seitz said. “That’s what we’re building right now.”
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