New York Angels, a loose affiliation of angel investors that hear pitches and conduct diligence together, just announced that vice chairman Brian Cohen will take over as chairman. He replaces David Rose, founder of the group that has invested more than $45 million in the last ten years.
Mr. Cohen is heavily involved in running the organization’s small staff and coordinating the Angels’ monthly meetings. As chairman, he will “focus on making the New York Angels the hallmark mentor organization to the exploding startup community in New York City,” according to a press release. He also plans to expand the group’s presence outside of New York.
This morning, Hustler VC Oren Bennett pointed Betabeat’s attention to a list of judges and emcees for the annual SXSW Accelerator, a competition sponsored by Microsoft BizSpark that culminates in awards for four lucky startups. Not as coveted a prize as the Breakout Award–which helped catapult Twitter, Foursquare, and then GroupMe to fame, financing, and an acquisition–perhaps, but a nice trophy all the same.
We already introduced you to the four Made In NYC companies that will be competing, but here’s a look at who’s deciding their fate.
Apparently you don’t need to be a startup to attempt a pivot. Back in March, Betabeat told you about mounting exasperation among local entrepreneurs toward New York Angels, the dotcom legacy investing group (circa 1997) run by its venerable chairman David S. Rose. At the time, Mark Birch, an independent New York angel investor, told us, “The NY Angels process is broken, because their model has stayed the same, while the environment has changed.”
Now, it seems, Mr. Rose is trying to adapt to these modern times through AngelSoft, the New York company he founded in 2004 to make software for investors to help them manage deal flow and collaborate with investors.
As Bloomberg reports, AngelSoft is launching an online marketplace to hookup potential investors with the right to entrepreneurs and hoping “financial matchmaking” ensues. Along with the pivot, AngelSoft will change its name to Gust. See, thinking like a startup already.
Tech Bubble Watch
OKAY, OKAY, IF YOU’RE GOING TO LECTURE US… LigerTail, which powers a promoted topics-esque widget, raised $50,000 from one anonymous investor after trundling along for three years. We reached founder Leonid Kozhukh, who did not want to talk about money. “None of these details are pertinent right now. We’re focused on getting publisher adoption,” he said when Betabeat asked who the investor was and where he plans to direct the funding. “All we want to talk about is the product and the ongoing problems in advertising that we’re trying to solve.” We scheduled an interview to talk about the idea, which is pretty cool, tomorrow. “Do me a favor and show LT to whoever is in charge of bizdev at Betabeat,” Mr. Kozhukh added. We’re going to spend the interim sorting out our feelings about indie movie references as start-up names.
MOAR RAISES. FanBridge raised a zillion dollars from 12 investors! Wait. Co-founder Noah Dinkin talks us down. “Just a delay in filing the form” from their January raise. Consmr, which launched today, will be raising funding soon. “I’m going to take a day to relax, and then we’ll start raising,” founder Ryan Charles said.
Justin Wohlstadter navigated easily through the crush of long-legged beauties and laptop jockeys crowding the lobby of the Ace Hotel on a chilly Thursday night. His informal office when he’s not in the U.K. doing postgraduate work at Oxford, the wood-paneled bar is also his hunting ground for tech deals to fund Read More