The 757 Angels Impact Report for 2020-21 reveals another year of phenomenal success with $82M in invested capital and over 1,000 jobs created. Recognized for the second year as a “Top 10 Angel Network” by the Angel Capital Association, 757 Angels has made a significant economic impact on Virginia by fostering business growth in the Hampton Roads region. The report highlights the organization’s investment in 11 companies, including DrugViu, and the continuous effort to create an inclusive ecosystem. As one of the most active angel groups in the country, 757 Angels, part of the 757 Collab family, is dedicated to providing educational resources and ensuring access to capital. Finally, the report acknowledges the financial support received from various sponsors and the role 757 Angels plays in building an innovation economy in the region and state.
757 Angels Annual Impact Report
Norfolk, VA – August 24, 2021 – 757 Angels reports another year of unprecedented success. In its just-released annual “2020-21 Impact Report”, 757 Angels reports $82M in invested capital and over 1,000 jobs created. For 2 years running, 757 Angels has been recognized as a “Top 10 Angel Network” in the country by the Angel Capital Association (ACA). The results are apparent in the growing Hampton Roads and Virginia ecosystems with new, thriving companies that are positively impacting our region and state. These outstanding results also speak to 757 Angels’ vision of growing businesses and delivering a substantial and quantifiable positive economic impact for Virginia.
Investment Highlights
In 2021, 757 Angels invested $8M into 11 companies, with 6 companies receiving new investment and 5 receiving follow-on investment. As an example, DrugViu, a company that is diversifying immunology, clinical trials, and data science, received new investment. Kwaku Owasu, CEO of DrugViu, stated that beyond capital, his company has been assisted by “introductions to potential customers in the healthcare ecosystem.” The investment in DrugViu and several other companies with underrepresented founders reflects 757 Angels’ strategy to create an inclusive ecosystem driving social impact by tackling social disparities.
Investor Education and Collaboration
As one of the most active angel groups in the country, 757 Angels features 149 accredited investor business leaders from a cross-section of sectors and backgrounds. The group is committed to providing educational resources to members and entrepreneurs. 757 Angels hosted 2 investor education events and participates in community panel discussions to educate investors and entrepreneurs and ensure access to capital. Furthermore, 757 Angels’ coordinated efforts to streamline its process and collaborate with other investors ensures a steady source of deal flow and an efficient selection process based on best practices.
757 Collab and Regional Innovation
757 Angels is part of the 757 Collab family of resources that includes 757 Accelerate and 757 Startup Studios. 757 Collab acts as a collaborative vehicle providing coordinating services to its 3 resources that are guided by an interconnected, inclusive, and impactful value system. 757 Collab is proud of its recently awarded $2.6M GO Virginia funding and securing an additional $1.6M from sponsors. TowneBank, Ferguson, Cox, Activation Capital, Hampton Roads Biomedical Research Consortium (HRBRC), and Naval-X Mid-Atlantic Tech Bridge provided financial support in return for alignment with the regional innovation community.
Statement from Managing Director
Monique Adams, Managing Director of 757 Collab and Executive Director of 757 Angels, stated, “Evidence of the growing regional ecosystem is everywhere, with more companies and active support organizations. 757 Angels is proud to play a key and catalytic role in building momentum and the assembly of an innovation economy in the region and state.”
A copy of the 757 Impact Report can be downloaded here.
About 757 Angels
757 Angels was formed in 2015. 757 Angels seeks to catalyze the Hampton Roads economy by supporting investment in the entrepreneurial community. 757 Angels accepts applications from promising entrepreneurs on its online application site. Application deadline is September 8th. Applications are reviewed through a standardized process (see 757angelsgroup.com for more information on our process) and our group of 149 members/investors meets 3 times a year to listen to pitches by 2-3 of the most compelling companies selected from that cycle’s application pool.
Question & Answer
Q: What were the key highlights of 757 Angels’ Impact Report for 2020-21?
A: The report revealed $82M in invested capital and over 1,000 jobs created, recognizing 757 Angels as a “Top 10 Angel Network” by the Angel Capital Association.
Q: How many companies did 757 Angels invest in during 2021?
A: In 2021, 757 Angels invested in 11 companies, with 6 companies receiving new investment and 5 receiving follow-on investment.
Q: What is the role of 757 Angels in fostering an inclusive ecosystem?
A: 757 Angels’ strategy includes investing in companies with underrepresented founders to drive social impact by tackling social disparities and creating an inclusive ecosystem.
Q: How does 757 Angels ensure access to capital and provide educational resources?
A: 757 Angels hosts investor education events, participates in community panel discussions, and collaborates with other investors to streamline processes and ensure access to capital for members and entrepreneurs.
Q: What is the relationship between 757 Angels and 757 Collab in the regional innovation ecosystem?
A: 757 Angels is part of the 757 Collab family, which includes resources like 757 Accelerate and 757 Startup Studios, all working towards building an innovation economy in the region and state.
