Pasadena, California (June 1, 2016) – The Pasadena Angels (PA) today announced the formation of their first investment fund at $1.3 million, PA Fund 1 (The Fund). The Fund will specialize in seed and early stage investments and will co-invest exclusively in deals that are subscribed by Pasadena Angels members. The Pasadena Angels’ 100 plus members invest individually and directly, without any legal pooling of financial resources. The Fund will give PA members the opportunity to invest as a group and increase their portfolio diversification. The Fund expects to make investments of $50,000 – $100,000 per company across emerging companies being funded by the Pasadena Angels. The PA Fund 1 operations will be managed by Pasadena Angels members Terry Kay and Anthony Valencia.
“The Pasadena Angels are a great resource for the start-up community in Southern California, by providing capital as well as mentorship. We have a history of helping to accelerate innovation with our portfolio companies.” Says Pasadena Angels Chairman Chris Wadden,” We want to add portfolio diversification for our members and provide an additional source of funding, knowledge and connections for early stage start-ups in Southern California. The PA Fund will be a mutually beneficial opportunity for both the Pasadena Angels and the entrepreneurial community”
About the Pasadena Angels:
The Pasadena Angels was founded in 2000 and is one of the longest running angel groups in Southern California. Members have invested over $65 million in over 175 companies. Pasadena Angels funded companies have gone on to raise over $500 million from additional funding sources such as venture capital and private equity. Recent notable exits for the Pasadena Angels are Mind Body Software (NASDAQ:MB) and Bluebeam Software. The Pasadena Angels was ranked one of the top ten angel investing groups in the country according to Forbes Magazine (2015). A nonprofit entity, the Pasadena Angels offers early stage start-ups capital investments; as well as mentoring from the expertise of more than 100 investor members with over 4,000 years of combined business expertise.