Seattle has has a heck of a tech scene, but isnâ€™t so big that the community breaks down into cliques and haters as Silicon Valley often does in the boom times. Maybe thatâ€™s why I spend so much time up here.
Like other tech hubs, successful Seattle entrepreneurs tend to become angel investors and help the next crop of companies come of age.
Now those angels are getting a little more organized by investing in the relatively new early stage fund Founderâ€™s Co-op. The fund was first launched last March by (now-deadpooled) Judyâ€™s Book founders Andy Sack and Chris DeVore, and focuses on early stage investments. They typically invest $100,000 – $300,000 in an angel round. To date theyâ€™ve made three investments for a total of about $700,000.
The group not only brings cash to a deal, they also bring the partnerâ€™s extended Seattle network. Sack says the fund will announce three more investments in the coming weeks. And I expect things will heat up even more, as this becomes one of the first stops for any company raising money in the Seattle area.
Photo by Founderâ€™s Co-op.