eCoast Angel Network
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Our Mission:

Empower.

“This system has been very good to us, and I feel we have a duty to help the new guy get his chance.”

— Mort Goulder, 1972

 

We give small businesses the resources to become innovators in the fields of engineering, science, technology and mathematics.

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 The eCoast Angel Network was formed in July 2000 by a group of like-minded investors from the Portsmouth NH area. Our members come from diverse backgrounds but have a unified purpose:

  • To support economic development, principally in the New England region

  • To foster entrepreneurial spirit

  • To identify investment opportunities

Our focus is on early-stage companies involved with advanced technology, e-commerce, healthcare, and industrial products and services, principally located in the Northeast. The group is most interested in companies requiring $250K-$2 Million at pre-money valuations of less than $5 Million, who have a credible multi-option exit strategy and are led by an experienced core management team.

There is no dedicated fund, nor are there "cash calls" - members participate in investments at their own discretion. The group maintains strong ties to other investment groups and many of the members have affiliations with early-stage Venture Capital firms. The eCoast Angels has been a leader in promoting best practices and encouraging cooperation between regional angel groups. We are a charter member of the Angel Capital Association, North America's professional alliance of angel groups, and co-founders of the Northeast Angels.

The eCoast Angels prefer early stage deals and the group is typically the first professional investor into a deal. As such, we prefer to work directly with entrepreneurs and not through incubators or hired fundraisers. We are pleased to accept referrals from Law Firms and other professional service providers, but will not deal with the company through them.

Members have invested in many companies since the network's inception. In keeping with the group's purpose, we have offered advice and counsel to many companies that were not funded by the network. In fact, several of these companies have gone on to receive funding based on the network's referrals.

Companies that have received investment support from the group include: Aras, PillPack, Knipbio, AtlasWatersystems, Libboo (Prolific Works), Disruptor Beam, Groove Mobile, FastAsset, Platelet Biogenesis, SemiNex, and V-Kernel (Quest).

To learn more about the group or to submit an Executive Summary or Business Plan, contact us using the link above.

 

View our recently added listing to The New England Venture Capital Association’s Boston Innovation Guide

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Investment Criteria

The ideal equity investment opportunity would have the following characteristics:

An Experienced Core Management Team:

(Not necessarily a complete team) with relevant success in developing similar technology, starting up new businesses, and penetrating similar markets.

A Significant Market Opportunity:

A market opportunity sufficiently large to create a business with revenues greater than $25 million within 5 years.

A Thorough Understanding of the Dynamics of the Marketplace:

Exciting, unique products or services that meet important customer needs, obsolescing existing alternatives.

A Convincing Business Plan:

A compelling, well-articulated strategy for capturing and defending a significant market share, including key execution milestones.

An Unfair Competitive Advantage:

A thorough understanding of the competitive landscape and a sustainable, overwhelming competitive advantage.

Defensible Intellectual Property: 

Strong and defensible underlying intellectual property.

Realistic, Achievable Financial Projections: 

Supported by a detailed list of underlying assumptions that stand up to typical investor cynicism.

Appropriate Capital Needs: 

Deals requiring $250K-$2MM at pre-money valuations of less than $5MM, with little or no need for additional private equity financing.  Alternatively, a credible ability to accomplish significant business milestones that will attract the next funding level.

Believable Exit Strategy:

A credible, multi-option exit strategy, achievable within 5 years, with an ROI of at least 5X invested capital.

Good Fit with eCoast Angels Mission, Skills and Interests: 

Early stage opportunities in technology, communications, e-commerce, healthcare, and industrial products and services, principally located in the New England region.

Cooperative Relationship between Candidate Firm and Angel Investors:

Candidate firms must have the need and desire for advice and coaching, and willing to work with us as we actively advance the company.

Submit your business for consideration

While we generally like to get referrals through personal introduction, if you have a solid business that needs funding, we will consider your proposal.