TECH Fort Worth’s angel group flying high
Fort Worth Business Press
Last August, when local nonprofit technology incubator TECH Fort Worth launched its own angel network to pair high-net-worth individuals with promising early-stage ventures, executive director Darlene Ryan hoped the program might attract five or six interested investors.
Instead, the nascent network has taken off flying.
Dubbed Cowtown Angels, the new springboard for area entrepreneurs recently welcomed its 16th investor and is drawing an increasing number of wealthy folks looking for ways to diversify their money.
In the past six months, members of the Cowtown Angels have screened more than 20 innovative startups and have made investments totaling about $700,000 in two local companies, PerioSciences LLC, a researcher and marketer of antioxidant-based oral care products, and Natural Dental Implants Inc., which manufactures a nonsurgical tooth replacement system.
The group has completed due diligence on two other area companies and is close to making deals.
“It’s happened faster than I expected. I guess I thought it would be a harder sell than it’s been,” Ryan said.