From Inside Business By Tara Bozick
$82 million — That’s the total amount 757 Angels have invested so far to grow businesses, according to the group’s latest impact report.
That investment in business capital has fueled the creation of more than 1,000 jobs since the formation of the regional network in 2015, according to the report. Over the past year, the 757 Angels reported investing $8 million in 11 companies despite the challenges of the coronavirus pandemic.
757 Angels is now comprised of 149 accredited investors from various business sectors and backgrounds. That’s 26 more members than a year ago.
The largest check size written so far has been $2.5 million with $120,000 being the average check size among 429 checks, according to the report.
The Hampton Roads group has been able to attract a diverse applicant pool. That’s led to diverse leadership of the 37 companies that have received 757 Angels funding with 42% of the leadership teams including people of color, 13% including veterans and 79% including women, according to the report.
757 Angels is part of 757 Collab, which manages and coordinates the resources of the angels, the nonprofit 757 Accelerate program and the 757 Startup Studios workspace in the Assembly campus at 400 Granby St. in downtown Norfolk. 757 Collab was recently awarded $2.4 million in GO Virginia grant funding matched by $1.6 million from a group of sponsors including: TowneBank, Ferguson, Cox, Activation Capital, Hampton Roads Biomedical Research Consortium, Naval-X Mid-Atlantic Tech Bridge, Old Dominion University, Christopher Newport University, Eastern Virginia Medical School and the cities of Norfolk, Hampton and Newport News.
— Tara Bozick, staff
