Just six months young, Gopher Angels is hastily moving towards their objective of connecting new Minnesota startups with qualified and capable local angel investors.
Spearheaded by David and Sara Russick, the group has increased membership to a “solid 15 active angel investors, of which about half are tech savvy” according to David, who maintains that the ultimate goal is to rally 70+ Minnesota angels. “Dealflow segmented by industry tells us that there is real opportunity here for both sides of the table to win with tech in Minnesota.”
While the first real deal has yet to occur through the group, he notes that they are currently in due diligence with three Minnesota tech startups, “operating in the realm of SaaS, mobile and social.”
An upcoming event on July 19th will offer a chance for more seed stage startups (seeking <$100k) or early stage startups (seeking $100k – $1m) to pitch the group for consideration. “There is also an increasing likelyhood of co-investing on those startups seeking larger rounds outside our scope.”
“We’re looking for proof of concept, quality management, big markets, and hints of monetization,” Russick says when asked what matters most to Gopher Angels.