OHIO TECHANGELS FUND

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Ohio TechAngels Funds are a group of for-profit angel investor funds that invest in highly promising early stage Ohio-based C-Corporations in IT, advanced materials, and life sciences. More than 340 high net-worth accredited investors contribute to the funds, making it the largest angel network in North America. While OTAF founder, John Huston, is the Manager of each fund, TechColumbus serves as the Managing Member of each fund and provides key administrative and entrepreneur support. The Ohio... Third Frontier Program co-invests in the funds, and OTAF also has a strong network of collaborators and partners. OTAFโ€™s mission is to โ€œTurn great ideas into prized companies to build entrepreneurial wealthโ€. To-date, OTAF and its sidecars have invested $28 MM in 44 companies that have raised $355 MM from other sources. Four companies have achieved positive exits and 10 companies were complete losses. The 30 active companies currently employ 421 people with average salaries of $87,275, and are generating about $50 MM in annual revenues. The typical OTAF investee is in the late โ€œSeedโ€, โ€œStart-upโ€ or โ€œEarlyโ€ lifecycle stages โ€“ depending on the industry. We prefer software companies to have demonstrated commercial feasibility by revenue generation. To qualify for investment consideration from OTAF, the company must be (or plan to be) the following: 1) Based in Ohio (any region) 2) Organized as a C-Corp legal entity, incorporated in Delaware or Ohio 3) Part of one of these subsectors: IT, Life Sciences, or Advanced Materials How are OTAF investments structured? OTAF IV will make 14 initial investments of $325,000, and seven of these companies will receive follow-on investments of $175,000. Individual OTAF members who are interested in increasing their exposure may write checks and invest alongside the fund as โ€œsidecarsโ€. Our typical round size is $750,000 to $2.5 MM, and if this is more than OTAF and sidecars will fund directly, then we will formulate a syndication strategy to socialize the company with our investment partners around Ohio and the Midwest. OTAF uses a standard term sheet and deal documents based on the NCVA model term sheet for participating convertible preferred equity.

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OHIO TECHANGELS FUND

Social Links:

Industry:
Commercial Financial Services Impact Investing

Founded:
2004-12-31

Status:
Active

Email Addresses:
[email protected]

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Current Advisors List

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Ryan Shambaugh VP @ Ohio TechAngels Fund
Advisor
2010-06-01

Current Employees Featured

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Adam Winter
Adam Winter Angel @ Ohio TechAngels Fund
Angel

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Michael Kindrat-Pratt
Michael Kindrat-Pratt Director @ Ohio TechAngels Fund
Director
2014-11-01

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John O. Huston
John O. Huston Manager @ Ohio TechAngels Fund
Manager
2005-01-01

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Parker MacDonell
Parker MacDonell Managing Director @ Ohio TechAngels Fund
Managing Director
2004-01-01

Founder


john-o-huston_image

John O. Huston

Investments List

Date Company Article Money raised
2019-02-13 Complion Ohio TechAngels Fund investment in Series B - Complion 7 M USD
2018-12-18 Healthy Roster Ohio TechAngels Fund investment in Seed Round - Healthy Roster N/A
2018-09-28 SHARE Mobility Ohio TechAngels Fund investment in Pre Seed Round - SHARE Mobility N/A
2018-05-14 nChannel Ohio TechAngels Fund investment in Venture Round - nChannel N/A
2018-05-04 Ecolibrium Solar Ohio TechAngels Fund investment in Venture Round - Ecolibrium Solar N/A
2018-04-05 MentorcliQ Ohio TechAngels Fund investment in Funding Round - MentorcliQ 1.73 M USD
2017-11-10 Able (formerly EmployStream) Ohio TechAngels Fund investment in Series A - Able (formerly EmployStream) N/A
2017-10-24 MavenView Ohio TechAngels Fund investment in Seed Round - MavenView 835 K USD
2017-09-12 Prevacept Infection Control Ohio TechAngels Fund investment in Series B - Prevacept Infection Control N/A
2017-08-23 ScriptDrop Ohio TechAngels Fund investment in Seed Round - ScriptDrop 1000 K USD

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