Launch Angels adds UNH, Yale alumni funds
Two new venture efforts follow successful Dartmouth fund
Launch Angels, an online venture platform that unites college and university alumni to invest in startups founded by other alumni, is launching two new venture funds.
Started earlier this summer by a team including Manchester-based venture capitalist TK Kuegler, Launch Angels began with a fund for Dartmouth College alumni. Now it’s adding funds for University of New Hampshire and Yale University alumni.
In addition, the company said it’s launching another new venture fund for Dartmouth alumni due to what it says is a great amount of interest in the first fund.
Michael Collins, the firm’s lead manager, told the website BostInno that the first Dartmouth fund, Green D Angels, closed with $1.5 million raised from 44 alumni; over 50 percent of that so far has been invested into 10 early-stage companies with Dartmouth connections, including Claremont-based health firm Recover Together.
The funds for UNH and Yale alumni will be called Blue Cat Angels and Blue Ivy Ventures, respectively. The Blue Cat Angel Fund will be led by Kuegler and AlphaLoft CEO Mark Kaplan while Blue Ivy Ventures will be led by Orlando Mendoza.
Collins told BostInno that Launch Angels has plans to add funds for three to four colleges and universities every year for the foreseeable future, with an expectation to have funds established at 15 to 20 schools within the next 10 years.