Alliance of Angels tallied high investment totals in 2008

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ANGEL INVESTING

Alliance of Angels tallied high investment totals in 2008

John Cook on Friday, February 27, 2009, 10:40am PST

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Seattle | Startups | Technology | Web

Despite the struggles in the economy in the latter half of 2008, members of the Alliance of Angels still invested near record totals last year. The Seattle angel group said today that its members invested $6.4 million last year, a 64 percent increase over 2007 and the second highest investment total since the organization was founded 11 years ago.

The group backed 36 companies, including 19 new deals. It also saw five positive exits: CleverSet, The Coffee Equipment Company, Insitu, Shelfari and SnapIn.

“Angels continue to support and invest in seed stage startups," said Alliance of Angels Chairman Dan Rosen. "The sophisticated AoA investors have been conserving capital with an eye toward follow-on rounds and, at the same time, the lower company valuations we have been seeing have encouraged angels to put more money to work in new opportunities.”

I have an email into the AoA to see if what happened to their investment totals in the fourth quarter after the economy went into the tank.

About John Cook

John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.

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