Angel Network Sees Growth
Over the summer of 2020, investors hit the emergency brake on cash flow and deals. Like most entrepreneurs, the pandemic forced their hand in putting a stop to major transactions and investments. So, it is quite counter-intuitive to hear that the Houston Angel Network (HAN) saw its membership actually, now hold on to your hats, double. Not only that, but HAN also maintained its usual flow of deals and investments. No, you’re not in the twilight zone.
“Nothing’s really changed — in terms of our activity — other than the fact that we can’t meet in person,” says Stephanie Campbell, managing director of HAN. “We quickly pivoted to virtual,” she told Innovation Map.
How it happened
Campbell, who also heads a venture capital group called The Artemis Fund, expressed that she was able to recognize the interest and need still present on both sides of venture deals.
“What I realized was, especially working at a venture fund, the deal flow isn’t going away. Companies still need capital — and investors are still interested in looking at deals,” Campbell proclaimed.
According to Campbell, the pivot to virtual events and virtual pitches actually helped the Angel Network. She says that more people are able to attend these virtual events than live events. Of course, one should also note that the shutdowns keeping people in their homes might also play a factor in this virtual attendance spike.
Continuing the trend
HAN also used their down time efficiently. The organization used their shutdown time to experiment with ways to better connect with startups. They looked for ways to boost digital engagement and produce more accurate data reporting.
“Despite COVID, we’ve continued to grow,” Campbell said. “People are very much still interested in learning about deploying their capital into early-stage venture. They’re looking for a network of like-minded individuals.”