The angel investing network Ark Angel Alliance announced that it has reached $1.3 million in investments in mostly Arkansas-affiliated companies since it launched in early 2020.
The group’s current portfolio of nine companies includes SFC Fluidics, MAIA Biotechnology, Loloft and Vascugenix.
"We are marking a great milestone in the genesis of angel investing in Arkansas”, Alese Stroud, chair of the group's board of directors, said in a news release. “The group is providing capital at a critical stage for entrepreneurs, but we’re also providing diversified investment opportunities for Arkansas investors."
The group evaluates deals from across the nation, but gives preference to Arkansas-affiliated deals. Each month, two companies are selected from dozens of candidates to pitch to investor members.
In addition to providing ventures with much-needed capital, Ark Angel Alliance provides investor education and networking opportunities.
"Our job is to vet these deals for our investors and support them if they decide to proceed to due diligence and invest," David Moody, executive director of Ark Angel Alliance, said in the release. "We save our members hours and hours of time trying to identify and research startup investments on their own. We also have a great group of people with decades of business experience and connections."