Previously known as Tech Coast Angels, NuFund is reporting its 100th investment.
Angel groups tend to support startups in their infancy, shouldering great risk while backing promising young firms. While many of their investments will go belly up, Angel groups are a vital variable to the US innovation ecosystem.
At the same time, the current leadership of the Securities and Exchange Commission wants to stifle this market by raising the barrier for investors to be deemed accredited and able to participate in ventures such as NuFund.
NuFund rebranded itself to better represent its national reach as opposed to being West Coast-centric.
Dean Rosenberg, co-fund Manager at NuFund, said the milestone is emblematic of its intent of offering a faster process for founders while working to generate a higher return for investors.
“We are making strong progress on all of those metrics.” In fact, NuFund’s first Annual Fund, launched in Q4 2018, has already paid back the original capital in full (1x DPI), making it a top-performing venture fund in its vintage year.”
NuFund reports approximately 350 investors (accredited) across the US. Over $60 million has been invested in the Annual Fund since 2018.
Serhat Pala, President of NuFund, explained that its model “answers the growing needs of the startup ecosystem.”
NuFund shared that its roadmap includes expanding its portfolio and focusing more on AI transformation across different industries, sustainability, and technological innovation in life sciences.
