Boston Harbor Angels is a group of proven business leaders interested in investing a portion of our assets in high growth, early stage companies. The group was formed in February 2004 and since then has made a number of investments in companies in medical devices, IT, consumer products, business products, specialty materials, Internet, aviation, etc. We believe we contribute more than money to the companies we fund and welcome the opportunity to work with entrepreneurs open to take advice, yet having the smarts and determination to make the company successful.
Our focus is on early stage companies usually looking to raise $250K to $1.5M, where we can fund a portion of the round and syndicate the deal with other angel groups or early stage venture funds. The stage of the company should be close to commercialization, while the company should have a clear and defensible competitive advantage. We are looking for capital efficient businesses, which can reach profitability with less than $5M of equity investment and provide at least 10X return on the investment within 5 years.
We do not invest as a fund - each of our members makes his or her individual investment decision but we collaborate in Due Diligence. We have a deep expertise in the life sciences field where we usually take the position of a lead investor, but are open to any opportunities that can make a strong business case. In some cases we prefer to be the follow on investor if we cannot identify a person with strong expertise within our group.
The group’s strategy is directed by an executive committee which consists of 8 people elected by the group: Wayne Griffith (chairman), Bill McPhee, Henry Kay, Jay Schwartz (membership director), Steve Andress, Peter Miller, Don Freeman and Mic Williams (president and founder). The group’s day-to-day operations are managed by Boris Batchvarov (managing director).
We receive 20-30 business summaries each month, out of which we select 8 companies to make a personal presentation to our screening committee. The screening committee consists of volunteers from the group. The presentations are 10 min long followed by 10 min Q&A. 4 of the companies are invited to present to the whole group, with the idea to get the people interested and decide to perform a Due Diligence with the companies before making an investment.
Tags: Angel Investors