Since its inception in 2015, 757 Angels has played a pivotal role in Hampton Roads startup success, investing a total of $64 million in 28 early-stage companies by 2020, with around 90% of the capital invested in the Hampton Roads region, according to their recent five-year impact report. The group has seen a growth in its membership and has contributed to employment and diversity by enabling firms to employ 413 individuals, with a majority of these firms reporting having a woman, person of color, or veteran in executive ranks. Despite the COVID-19 pandemic causing a slowdown in investment and loss of revenue for many firms, 757 Angels has continued to support these companies, many of which have adapted by pivoting to alternative revenue streams and securing a Paycheck Protection Program loan.
Investment Impact
$64 million — That’s the amount 757 Angels has invested in 28 early-stage companies since the group’s launch in 2015, according to the group’s 2020 five-year impact report.
Regional Focus
And about 90% of the capital has been invested in Hampton Roads, its leaders say.
Growth and Diversity
757 Angels also grew the number of its angel investor members from 75 in 2015 to 123 in 2020.
Employment and Diversity
The firms leveraged their investment to currently employ 413 people, according to the report. And 95% of 757 Angels’ portfolio companies report having a woman, person of color or veteran in executive ranks.
Impact of COVID-19
The COVID-19 pandemic slowed investment, but it hasn’t stopped. While 74% of the group’s portfolio companies experienced a loss of revenue from March to May, 26% of businesses reported increased revenue. The report shows nearly half plan to maintain their number of employees with 10% adding employees, 28% planning layoffs and 14% implementing furloughs.
Adaptation and Support
Still, the firms adapted with more than half pivoting to alternative revenue streams and most receiving a Paycheck Protection Program loan, according to the report.
Question & Answer
How much has 757 Angels invested in early-stage companies since 2015?
757 Angels has invested $64 million in 28 early-stage companies since its launch in 2015, as per their 2020 five-year impact report.
What percentage of the capital invested by 757 Angels has been in the Hampton Roads region?
Around 90% of the capital invested by 757 Angels has been in the Hampton Roads region, according to the group’s leaders.
How has the membership of 757 Angels changed from 2015 to 2020?
The number of angel investor members in 757 Angels has grown from 75 in 2015 to 123 in 2020.
How many individuals are currently employed by firms that received investment from 757 Angels?
Firms that received investment from 757 Angels currently employ 413 individuals, as reported in the impact report.
How did the COVID-19 pandemic impact the portfolio companies of 757 Angels?
While 74% of the group’s portfolio companies experienced a loss of revenue from March to May due to the pandemic, 26% reported increased revenue. Nearly half of the companies plan to maintain their number of employees, with some adding employees and others implementing layoffs or furloughs.
