Top 8 Angel Investors and VC Firms in Baltimore in 2026

Baltimore's startup funding scene runs through a small, well-documented group of active backers: TEDCO, Betamore, Jason Palmer, Dave Troy, The Abell Foundation, Baltimore Angels, Jeremy Tucker, and RareBreed Ventures' McKeever "Mac" Conwell II. Between them they cover seed-stage checks, accelerator programs, and grant-style catalytic investments across healthcare, cybersecurity, fintech, and enterprise software.

Baltimore is a bustling city full of innovative entrepreneurs and investors. Many startups have found success in the Charm City, thanks in part to the support from prominent angel investors, VC funds, and accelerators.

Most of these investors have huge experience running their own businesses, which allows them to share positive insights with startups in their portfolios.

Top Angel Investors and VC Firms in Baltimore

The following list shows angel investors, VC firms, and startup accelerators active in Baltimore. Before contacting any investor, it is recommended to do your own research and understand their investing interests and screening process. AngelMatch currently tracks 500+ investor profiles in Baltimore and 82,000+ individual angel investors across the platform.

TEDCO

TEDCO (the Maryland Technology Development Corporation) is a state-created, quasi-public investing organization that supports Maryland's technology and life science entrepreneurs. Since its inception in 1998, TEDCO has been Maryland's leading source of early seed funding for technology-based businesses, working through programs such as its Pre-Seed Builder Fund and Technology Commercialization Fund.

With regular events, such as "Tech Breakfasts," TEDCO helps connect investors with startups needing funds. It also provides seed funding and resources to promising businesses looking for early-stage financing.

TEDCO's checks through its Pre-Seed Builder Fund and Technology Commercialization Fund have typically run in the low six figures. Recent portfolio investments include CurieDx and Nowy.

Betamore

Betamore is one of Baltimore's best-known startup accelerators and coworking spaces. It was founded in 2012 by Greg Cangialosi, Sean Lane, and Mike Brenner as an "urban campus for entrepreneurship and technology" in Federal Hill.

Betamore combines coworking space, an accelerator program, and technology education for the Baltimore startup community. As a nonprofit, it has been home to 175-plus companies that have collectively raised more than $75 million in venture capital since its founding.

In addition to its accelerator track, Betamore runs classes and mentorship programs to help founders build and scale their businesses.

Jason Palmer

As an individual angel investor, Jason Palmer focuses on education technology and workforce-related startups. He is a General Partner at New Markets Venture Partners, an early-stage venture capital firm focused on education and workforce technology.

Palmer brings twenty years of experience as an education technology entrepreneur, executive, and investor. He currently serves as a board director for Motimatic and Decision Desk, and previously served on the boards of Moodlerooms and StraighterLine.

Palmer invests at the seed and early stage and is also active as a mentor and speaker at Baltimore-area startup programs.

Dave Troy

With a business and software development background, Dave Troy is one of Baltimore's most established angel investors. He co-founded Baltimore Angels, the region's primary organized angel group, and has made more than 20 startup investments over the past decade.

As an experienced entrepreneur, Troy focuses on investments that provide long-term value to the Baltimore startup community. Baltimore Angels, which Troy co-founded, was among the investors in SocialToaster, a Baltimore-based fan-engagement and content marketing platform.

Troy previously founded and sold ToadNet, a regional internet service provider, and later founded 410 Labs, maker of the Mailstrom email management tool.

The Abell Foundation

The Abell Foundation is a private foundation dedicated to improving quality of life in Baltimore City. It was established in 1953 by Harry C. Black, then chairman of the A.S. Abell Company, former publisher of the Baltimore Sun.

Alongside its grantmaking, the Foundation makes catalytic direct investments in Baltimore-based companies through vehicles like its Propel Baltimore Funds, which provide early-stage, technology-focused venture capital to Baltimore entrepreneurs.

Current portfolio companies backed through the Propel Baltimore Funds include ReGelTec, Sonavex, and Sonosa, spanning medical devices and health technology.

Baltimore Angels

Baltimore Angels is the region's primary organized angel investing network, connecting experienced entrepreneurs with early-stage Baltimore companies needing financing and mentorship. It was co-founded by Dave Troy and Greg Cangialosi.

The group meets regularly to review startup pitches and decide which companies to back. Its portfolio includes SocialToaster, a Baltimore-based content marketing and fan-engagement platform that also drew investment from Blu Venture Investors and Wasabi Ventures.

Baltimore Angels considers factors such as founding team strength, market opportunity, and growth potential when evaluating companies.

Jeremy Tucker

Jeremy Tucker is a Baltimore-based angel investor and entrepreneur. He co-founded Drone Delivery Systems Corporation (doing business as AirBox Technologies) and has made angel investments including a stake in Fruit Street, a healthcare technology company.

Tucker is also Co-Founder, Principal, and Portfolio Manager at Raven Capital Management, where he focuses on intellectual property, music, and specialty finance assets.

He offers hands-on mentorship to the early-stage companies he backs, drawing on his own experience as a founder.

McKeever "Mac" Conwell II (RareBreed Ventures)

McKeever "Mac" Conwell II is the founder and managing partner of RareBreed Ventures, a Baltimore-based pre-seed fund. He launched RareBreed in 2020 after four years at TEDCO, where he helped build the Pre-Seed Builder Fund.

RareBreed focuses on founders outside major tech hubs like New York and Silicon Valley and invests across most industries, excluding life sciences. The fund has grown to roughly $10 million with nearly 30 investments.

A Baltimore native and Morgan State University alum, Conwell is known for actively building his network and dealflow outside traditional venture circles.

Wrap-Up

So, here are some of the top angel investors, VC funds, and startup accelerators active in Baltimore. No doubt, all of them have contributed immensely to the growth of startups in the city. For a broader look across the state, see our guide to top angel investors in Maryland.

However, if you're looking to pitch to a specific angel investor, it is important to keep some additional guidelines in mind. These guidelines include creating a good pitch deck, understanding your startup goals, presenting your idea in the best way, and showing confidence in your startup's growth potential.

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