StartupAZ Newsletter: Issue 17
“When they go low, we go high”- Michelle Obama
It seems the beloved phrase is also applicable to Angel Investment in 2022.
According to CB Insight’ Q2 State of Venture Report, there was a 33% growth in median deal size for Angel Investors, making them the only investor group to see positive change from last year.
So, we had to ask the question, are Arizona’s own Angel Investors experiencing the growth reflected in that report?
“For superior companies there is money available from ATI investors,” said James Goulka, Chairman and Managing Director for Arizona Tech Investors. “We have seen a significant increase in deal size and valuations that are at the angel level,” he continued.
Arizona Tech Investors closed 2021 out with 15 investments, and as of September 2022 they are sitting at 13 current investments and are soft-circling ending the year around a total of 19 though they are still looking at additional opportunities.
Canyon Angels is also seeing an upward trend, with 4 investments made in 2021 and an estimated 5–7 total investments by the end of 2022.
“In 2021 our members invested $4.1 million into 16 deals, and this year we are on track to meet or exceed those numbers,” said Joann MacMaster, CEO at Desert Angels.
With the numbers pointing in the right direction for Angel Investors, they have their sights set on a few core traits to make a business investable: Scalability, clear path to exit, access to customers, and strategic community support.
“Customer contact at the earliest stage is critical and allowing investors to talk with them is very helpful,” said Tim Kelley, Chairman at Canyon Angels.
“An ideal investment opportunity for our members is an early-stage company with an exceptional management team, significant market opportunity, scalable innovation, strong competitive advantages, a clear exit strategy, and a reasonable valuation with well-developed financials,” said MacMaster.
“We also encourage companies to work with local partners,” MacMaster continued, “incubators, accelerators, mentors, university partners — who can help them fill in gaps and prepare for equity funding.”
One of those companies who is going above and beyond to connect with their community is Jasmine Bhatti, CEO and Co-Founder of NAVI Nurses. Keep reading to learn how this industry expert founder leverages mentors in the tech community to grow in this month’s Collective Conversations!
Some ventures are created around a deep-seated passion while others are born as an answer to a blaring call for a need that isn’t being met. The latter is the case for nurse-turned-entrepreneur Jasmine Bhatti.
Interestingly, what got Jasmine into nursing was also the desire to fill a big need she had become personally familiar with when her grandmother was diagnosed with cancer. Serving as one of her caregivers, she realized how little support and resources there were for continued care and that inspired her to pursue a career as a nurse. Over the course of her decade-long nursing career, Jasmine repeatedly had patients ask if they could hire her to care for them after transitioning out of the hospital — and this turned on a lightbulb. What if she could create a solution?
If you love a great industry expert story- read the full story here or listen to Jasmine’s full interview here.
Watch the full interview (or check out the Q&A).
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