Entrepreneur Marco Bitran has realized great success in the technology and financial industries as the founder and chief executive officer of AI Exchange, Inc., a company that uses a proprietary computer model to guide hedge fund investing. When establishing the company, Bitran raised over $1.5 million in capital from groups such as CommonAngels.
Focused on the New England and Manhattan areas, CommonAngels combines an angel partnership and a fund to enhance start-up businesses. Seeking entrepreneurs with innovative ideas, it primarily invests in software, digital media, information technology, mobile, and business-to-business firms. Over the past 15 years, CommonAngels has contributed to more than 60 companies. While this entity provides the beneficiary businesses with contacts, expertise, and funding, it does not “run” the enterprises but instead offers guidance.
Operating through an eight-person committee, it distributes portions of its $13 million fund to companies that fit its qualifications. CommonAngels prefers entities that require modest capital expenditures for hardware and infrastructure, and it gives to both seed and Stage A businesses. Firms in the alpha stage can turn to CommonAngels for seed investments between $250,000 and $750,000. More advanced companies in the beta or go-to-market stages may obtain up to $1.5 million for their projects. For more information, log onto http://www.commonangels.com.