Seattle-based Alliance of Angels has been ranked as one of the most active angel groups in the nation in the Angel Resource Institute’s annual Halo Report. The angel group tied with New York-based New York Angels for the number-five spot with 20 deals each.
Alliance of Angels Managing Director Yi-Jian Ngo said the group consistently completes 20 deals, investing $10 million in early-stage technology startups. Ngo said 90 percent of the money the group invests stays in the Puget Sound.
“There is very strong interest also in economic development and job creation,” Ngo said. “Now that Microsoft and Amazon are ‘mature,’ there’s got to be more of these coming down the road. If we’re not planting the seedlings today, then it does not behoove well for the future of the region.”
The alliance has nearly doubled in size during the past two years and has become one of the more diverse angel groups with 38 women as active members, according to Ngo. The early-stage investing landscape is dominated by men, with women making up only 1 or 2 percent of angel and venture capital firm members.
“(Women) bring a tremendous amount of value, and they also role model for new female entrepreneurs who are approaching us for cash,” Ngo said. “I think this is a very positive development, especially given the discussion about diversity in the tech industry, and in early stage investing.”
According to the HaloReport, 5,133 deals totaling $21.8 billion were completed in 2015.
The Northwest region, consisting of Washington, Oregon, Idaho, Montana, and Wyoming, completed 8.7 percent of the nation’s angel investments in 2015. This is an increase over prior year, when the Northwest accounted for 6.7 percent. The Northwest also accounted for 9.8 percent of total dollars invested.