71/70 Angels Launches First Fund to Boost Ohio's Angel Investment
Funding | Feb 26, 2025 | Rev1 Ventures
71/70 Angels, supported by Rev1 Ventures, has launched its first fund to support Ohio's burgeoning startup ecosystem. The fund aims to close the seed capital gap for enterprise software and advanced technology startups, focusing on expanding Ohio's angel investor network. The initiative addresses the challenge of declining angel funding and offers a platform for both new and seasoned investors. With plans to focus on seed-stage software firms across the nation, the fund seeks to enhance Ohio's national footprint in the tech ecosystem. Comments from Tom Walker, CEO of Rev1 Ventures, Melinda Gloriosa, Managing Director of 71/70 Angels, and Phil George, Founder of MentorcliQ, underscore the importance of angel investors in fostering innovation.
Sectors
- Venture Capital
- Enterprise Software
- Angel Investing
Geography
- United States – The article discusses a fund launch in Ohio, contributing to the national startup ecosystem.
- Ohio – The fund is specifically aimed at bolstering Ohio's startup ecosystem and expanding its angel investor network.
Industry
- Venture Capital – The article discusses the launch of a new fund aimed at investing in early-stage startups, a key activity within the venture capital industry.
- Enterprise Software – The target investments of the fund are enterprise software startups, indicating the industry focus of the fund.
- Angel Investing – The article focuses on expanding the angel investor network, which is a pivotal element of early-stage investment.
Financials
- – The article does not specify a financial amount for the fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 71/70 Angels | Fund Manager | Company | A new fund aimed at closing the seed capital gap for startups. |
| Rev1 Ventures | Supporter/Advisor | PE Firm | The private equity firm supporting the launch of the 71/70 Angels fund. |
| Tom Walker | CEO | Person | CEO of Rev1 Ventures, emphasizing the importance of angel investment. |
| Melinda Gloriosa | Managing Director | Person | Managing Director of 71/70 Angels and Rev1 Ventures. |
| Phil George | Founder & CEO | Person | Founder & CEO of MentorcliQ and an angel investor with 71/70 Angels. |
| MentorcliQ | Startup | Company | A startup that benefited from angel investment, mentioned by Phil George. |