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Heaven Sent

Heaven Sent

David Rose’s AngelSoft Launches an Investor/Startup Matchmaker, But Can It Compete With AngelList?

David S Rose[3]

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. Read More

Heaven Sent

Can New York Angels Change With the Times?

angel investor

Last week Adam Neary, founder of the startup Profitably, laid out the saga of finding funding for his company over the past year. In the post, he threw some digs at the venerable investing group, the New York Angels.

After 13 weeks and a commitment from one member to lead the round, Mr. Neary ended up with nothing when the investor missed his closing deadline. “No doubt, there are a handful of credibly amazing investors who attend their meetings, but from my perspective, clearly¬†the New York Angels process is broken.” Read More