JumpStart New Jersey Angel Network, which invests in entrepreneurs in New Jersey and the mid-Atlantic region, had a banner year in 2021, investing more than $2.2 million, an increase of 25% from the prior year.
The group also said it had success with exits in 2021, with one investment producing a 17x return on capital. And it did all of this while its membership rose by 30%.
All of these numbers excited board Chair Stephen Dyer.
“From deal flow and exits to our growing membership, our angel group continues to build on its momentum from last year,” he said. “This year, we look forward to investing in more companies with innovative technology that is disrupting traditional businesses.”
JumpStart NJ invests in early-stage growth companies with high potential and innovative technology that disrupts traditional businesses. The group’s members prefer to invest in companies that are generating revenues and with pre-money valuations typically under $10 million.
About JumpStart NJ
Based in the Garden State, JumpStart New Jersey Angel Network invests in New Jersey, the mid-Atlantic region and beyond. Founded in 2002, JumpStart NJ has developed strong relationships with the angel and venture capital communities in New Jersey, New York, Philadelphia and Boston. JumpStart NJ’s sponsors, including EisnerAmper and Stevens & Lee, help the angel group support technology innovation in the region and beyond.
Primary areas of investment interest include, but are not limited to: Software-as-a-Service business-to-business, health tech, ag-tech, medical devices, manufacturing, alternative energy, shipping/logistics tech, cybersecurity and consumer packaged goods.
Membership is open to accredited investors as defined by the Securities and Exchange Commission. JumpStart NJ officials say its members include business leaders from a variety of industries and entrepreneurs who have had successful exits. Besides investing funds, members provide coaching to the early-stage companies.
“The funding is important, of course, but so is the mentorship our members can offer to the startups in our pipeline,” Membership Chair Gina Tedesco said. “Our members want to share their deep knowledge and expertise, as well as their dollars.”
JumpStart NJ’s investments in 2021 were its highest since at least 2017. New Jersey companies receiving funding included SunRay, based in Eatontown, and Calamu, based in Clinton.