Norfolk, VA – August 24, 2021 – 757 Angels reports another year of unprecedented success. In its just-released annual “2020-21 Impact Report”, 757 Angels reports $82M in invested capital and over 1,000 jobs created. For 2 years running, 757 Angels has been recognized as a “Top 10 Angel Network” in the country by the Angel Capital Association (ACA). The results are apparent in the growing Hampton Roads and Virginia ecosystems with new, thriving companies that are positively impacting our region and state. These outstanding results also speak to 757 Angels’ vision of growing businesses and delivering a substantial and quantifiable positive economic impact for Virginia.
In 2021, 757 Angels invested $8M into 11 companies, with 6 companies receiving new investment and 5 receiving follow-on investment. As an example, DrugViu, a company that is diversifying immunology, clinical trials, and data science, received new investment. Kwaku Owasu, CEO of DrugViu, stated that beyond capital, his company has been assisted by “introductions to potential customers in the healthcare ecosystem.” The investment in DrugViu and several other companies with underrepresented founders reflects 757 Angels’ strategy to create an inclusive ecosystem driving social impact by tackling social disparities.
As one of the most active angel groups in the country, 757 Angels features 149 accredited investor business leaders from a cross-section of sectors and backgrounds. The group is committed to providing educational resources to members and entrepreneurs. 757 Angels hosted 2 investor education events and participates in community panel discussions to educate investors and entrepreneurs and ensure access to capital. Furthermore, 757 Angels’ coordinated efforts to streamline its process and collaborate with other investors ensures a steady source of deal flow and an efficient selection process based on best practices.
757 Angels is part of the 757 Collab family of resources that includes 757 Accelerate and 757 Startup Studios. 757 Collab acts as a collaborative vehicle providing coordinating services to its 3 resources that are guided by an interconnected, inclusive, and impactful value system. 757 Collab is proud of its recently awarded $2.6M GO Virginia funding and securing an additional $1.6M from sponsors. TowneBank, Ferguson, Cox, Activation Capital, Hampton Roads
Biomedical Research Consortium (HRBRC), and Naval-X Mid-Atlantic Tech Bridge provided financial support in return for alignment with the regional innovation community.
Monique Adams, Managing Director of 757 Collab and Executive Director of 757 Angels, stated, “Evidence of the growing regional ecosystem is everywhere, with more companies and active support organizations. 757 Angels is proud to play a key and catalytic role in building momentum and the assembly of an innovation economy in the region and state.”
A copy of the 757 Impact Report can be downloaded here.
About 757 Angels
757 Angels was formed in 2015. 757 Angels seeks to catalyze the Hampton Roads economy by supporting investment in the entrepreneurial community. 757 Angels accepts applications from promising entrepreneurs on its online application site. Application deadline is September 8th. Applications are reviewed through a standardized process (see 757angelsgroup.com for more information on our process) and our group of 149 members/investors meets 3 times a year to listen to pitches by 2-3 of the most compelling companies selected from that cycle’s application pool.