In a newsletter sent out last night, Lexington, Mass. based CommonAngels appear to re-energized by the Boston startup scene. CommonAngels is a group of 75 leading private investors and several dozen limited partners in two co-investment funds. Most angel groups in Boston have been relatively quiet lately and some have taken heat for their backwards pay-to-pitch model. With the emergence of new micro-VC funds and constant capital injection from individual angels, it appears that the angel groups are ready to make their way back onto the scene.
Calling themselves ‘Boston’s Super Angels’ in the header of the email certainly makes a bold statement, but it’s one that we all hope comes true. The message was very clear – Common Angels is sitting on a bunch of cash, and is finally ready to start putting it to work.
The most exciting part of the newsletter was the announcement of a new Kendall Square Office, a powerful move that shows dedication and signifies a long term commitment to the Boston startup ecosystem. “To be closer to many of the great entrepreneurs in Boston,” reads the newsletter, “we’ve also opened a new office at the Cambridge Innovation Center at One Broadway.”
CommonAngels also announced investments in three new pre-launch companies; Clovr Media, Ayeah Games, and Blaze Software.
CommonAngels typical investment is slated to be between $100k and $1m, which many see as the most crucial piece of the investment puzzle needed to spur the growth of young companies.
This is very exciting and certainly what this community needs. Discussing their strategy, the newsletter goes on to say that “We will make our decisions on these startups very quickly and look forward to working with talented entrepreneurs in testing their exciting concepts. We feel that Boston needs more investors willing to act quickly for these entrepreneurs and we’re stepping up to the opportunity!”
The newsletter signs off with a personal note from James Geshwiler and Chris Sheehan, Managing Directors of the fund, and finally gives CommonAngels a personality and a very approachable one at that!
