Technology: Electronics

TiE Florida Angel Network (TiEFAN) and Seedfunders partner to increase early stage deal flow in the Southeast

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ST. PETERSBURG, Fla. (PRWEB)

Seedfunders, a St. Petersburg-based investment group specializing in pre-revenue technology concepts, announces its partnership with TiE Florida Angels Network.

TiEFAN will refer companies seeking less than $1M to Seedfunders. Those startups that successfully complete Seedfunders’ five-stage vetting process receive lead investment from Seedfunders’ recently announced Catalyst Fund. Investment is also opened up to Seedfunders partners, to TiEFAN and individual TiE members.

“TiEFAN’s investment criteria does not allow it to lead investments in companies that are pre-revenue or companies that are seeking less than $1 million in capital,” said Suhas Apte, president of TiE Tampa Bay.

“We have a lot of entrepreneurs who are at an early stage, raising money from friends and family, but once they get to the next round, there’s been no one to invest in them,” Apte said.

Providing investment capital to pre-revenue companies who typically struggle to secure Angel funding could help them grow to the size where they can meet TiEFAN’s criteria.

“We look forward to growing companies that we can pass back to TiEFAN in later stages,” Joe Hamilton, Catalyst Fund Director, said.

The partnership broadens the geographic reach of Seedfunders, and its Catalyst Fund, to TiE’s four metro area chapters: Tampa-St. Pete, Miami, Atlanta and Charlotte.

“The partnership is an economic development tool that will boost entrepreneurship while expanding Seedfunders’ investment opportunities, and give TiE members new ways to back young companies,” said Irv Cohen, Seedfunders co-founder and partner.

“It drastically expands the pipeline of opportunity to Seedfunders to help us bring the best opportunities to our investors,” Cohen said. “It’s part of the long-term goal to develop the entrepreneurial model in our region.”

About Seedfunders

Seedfunders provides funding and mentoring for pre-revenue technology concepts, with guidance on bringing ideas to market, and maximizing success. Seedfunders also recently launched a new funding organization to back young companies in Orlando.

About TiEFAN

TiEFAN is an investment group made up of some of the members of TiE Tampa Bay — a nonprofit organization that encourages entrepreneurship, one of 60 chapters in 17 countries of Silicon Valley-based The IndUS Entrepreneurs.

Catalyst Fund: https://seedfunders.co/catalyst-fund/

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