Billiken Angels Scrap Requirement for Startup Funding

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Since it formed in late 2008, the Billiken Angels Network made angel investments in three companies. Expect that number to pick up very quickly.

The angel investing group has announced that it will no longer require potential investments to have ‘SLU DNA,’ which limited the group to investing in ventures started by current or former Saint Louis University students, faculty or staff.

The Billiken Angels will also not limit their investments to any specific industry or fundraising stage, as is common practice for most angel investors and venture capital funds. That should be welcome news for St. Louis entrepreneurs in industries such as consumer products, manufacturing and the service sector, where local investment sources are limited.

The Billiken Angels consist of 30 investors and have so far participated in a $1.5 million fundraising round for medical device startup Kypha, joined the seed funding round for Los Angeles-based startup and invested in the clean-energy startup Infinity Wind.

Read more on St. Louis Business Journal.

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