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AZ Tech Beat | October 15, 2019

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Desert Angels invested over $5.5M and majority in AZ cos.

Desert Angels invested over $5.5M and majority in AZ cos.
Tishin Donkersley

Desert Angels (DA) announced their final investment numbers for 2013 equaling over $5.5 million placed into 23 different companies-the majority of them in Arizona. Chairman of Desert Angels and board member on the Angel Capital Association Curtis Gunn said this milestone “…is a record for us, both record of number of companies and dollars invested.”

In 2013 Q2 HALO report, a national survey of angel group investment activity, Desert Angels was ranked in the top five for most active angel groups in the United States. DA is looking to stay at the top of the list for the year-end report.

“Investments have increased in 2013 and I’m very hopeful that we crack the top 10 for investments in the Halo report indicating that we are one of the most active investment groups in the country.”

Within the tech community, DA might be perceived as an investment group primarily focused on life science, but according to Gunn, DA invested 30 percent of their fund into life science and 70 percent in hardware, software, SaaS, mobile and clean tech for 2013.

“We are shifting with the market to app development and mobile,” Gunn said.

In December 2013, DA closed their sidecar fund 4 at $517,000 and made all three investments in Arizona companies, “The three investments went towards an iPhone app, a medical device and in bio tech,” Gunn said.

The DA group continues to stay active in community efforts to grow the tech ecosystem border-to-border, “The work we are doing with the Arizona Commerce Authority Innovation Challenge and Invest Southwest Venture Madness is incredibly valuable to supporting the entrepreneurs of Arizona and early stage startup community,” Gunn said.

Read more about Desert Angels here.