Top Angel Investors in Baltimore

Last updated: August 30, 2023
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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.


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


So, let's not keep you waiting any longer and move on to the list of the Top 9 Angel Investors in Baltimore and ways to connect with them.


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    Top Angel Investors in Baltimore

    The following list shows different angel investors/ VC firms and startup accelerators in Baltimore. Before contacting any angel investor, it is recommended to do your side of the research and gather maximum information about their interesting ideologies and screening tests.


    Russell Street Ventures

    Started in 2015 by venture partner Liz Rundown, Russell Street Ventures is an early-stage venture capital firm based in Baltimore that invests in seed and early-stage startups. With different investing interests, Russell Street Ventures focuses on startups related to commerce, transport, media, and entertainment.


    Moreover, the firm also comprises a wide range of investors and mentors who guide startups at different stages. Their dedication to boosting the entrepreneurship culture in Baltimore is evident through their different mentorship programs.


    As for screening tests, Russell Street Ventures carefully evaluates startups to identify their potential and investments. Their investment range spans from $100,000 to $5M.

    Some successful companies in their portfolio include WebMechanix, Zest AI, and SYS Technologies.


    TEDCO

    TEDCO is a private, non-profit investing network that supports Maryland's entrepreneurs. Since its inception in 1998, TEDCO has consistently invested in different incubators and accelerators to drive economic growth in Baltimore.


    With their regular events, such as 'Tech Breakfasts,' TEDCO helps connect investors with startups needing funds. Moreover, they also provide seed funding and resources to promising businesses who are looking for early-stage financing.


    Their investment range spans from $50K to $2M. Being one of the oldest investors in Baltimore, TEDCO has tons of investments under its name. However, some notable investments from TEDCO's portfolio include Talon AI, AppsFlyer, and Thinkful. 


    Beatmore

    Being one of the few startup accelerators and investors in Baltimore, Beatmore was founded by the famous entrepreneur and investor Brian Norwood. The investment network focuses on startups in education, health, gaming, media, and entertainment.

    Beatmore has a team of experienced investors who help mentor and guide young founders to help them build their businesses. They focus on providing early-stage financing up to $500K.


    In addition to seed funding, the firm also provides advice and guidance to help startups reach their maximum potential. Their recent accelerator program, "StartupQ" has been very successful in helping startups grow and scale to new heights.


    Some of Beatmore's notable investments are Mobtown Offers, GSW Solutions Group, and HireVibe.


    Jason Palmer

    As an individual angel investor, Jason Palmer likes to invest in tech-related fields. He is also a managing partner at DreamIt Ventures, an early-stage accelerator and venture capital firm that focuses on innovative startups.

    With his investment philosophy revolving around 'Full Cycle Investing,' Palmer looks for opportunities to invest in companies with disruptive technology and business models. He has invested in several projects, like TouchCare, a mobile platform that helps connect patients with doctors, and Perceptual Networks, an app that provides automated customer support solutions.

    Palmer usually invests in early-stage startups offering seed capital ranging from $25K to $100K. He also works with other mentors and business experts to provide the best advice to the companies he has invested in. 


    T. Rowe Price

    T. Rowe Price is an investment management firm located in Baltimore City that looks for early-stage startups with the potential to disrupt existing markets. The company works on a specific goal of helping different startups throughout the city. Although the firm has diverse investing interests, most of its investments are related to healthcare and online banking.


    The individuals at T. Rowe Price have spent ample time running startups and paving these roads to success. This experience helps them guide their portfolio companies through different startup stages.


    T. Rowe Price's investment range varies from $150K to over $3M. They have invested in several projects, such as Authomate, a company that features authentication solutions for secure online banking, and xG Health Solutions, an analytics firm focusing on healthcare data.


    Dave Troy

    With a business and software development background, Dave Troy is one of Baltimore's most knowledgeable angel investors. He has invested in more than 20 startups over the past decade, including High Five, a mobile messaging app that helps connect entrepreneurs with mentors, and SocialToaster, a social media marketing platform for brands.


    As an experienced entrepreneur, Troy focuses on investments that can provide long-term value. He has also invested in several accelerators, such as DreamIt Ventures and Betamore, to help build a sustainable startup ecosystem in Baltimore.


    Troy's investment range spans from $25K to $2M, depending on the type of the project.


    The Abell Foundation

    The Abell Foundation is a private foundation that invests in different Baltimore startups. The organization has been operating since 1954, when it set out to improve Baltimore's startup ecosystem.


    The Foundation has a wide range of initiatives, and one of them is its venture capital fund. Through this fund, they provide seed funding to Baltimore entrepreneurs with innovative ideas that could benefit the local economy. They usually invest between $50K and $500K in projects they deem promising.


    Some startups that received investments from the Abell Foundation include bwtech, a technology incubator that helps businesses grow, and Humanim, an organization working to improve employment opportunities for individuals with disabilities. 


    Baltimore Angels

    Baltimore Angels is an angel investor network that has been operating since 2014. The organization connects experienced entrepreneurs with early-stage companies needing financing and mentorship.


    The group meets regularly to review startup pitches, discuss their prospects, and decide which projects should be chosen for investment. Baltimore Angels usually invest between $50K and $250K in projects that they find particularly promising.


    They consider factors such as the company's leadership, ideas, and potential for growth when deciding which companies to invest in. Some of Baltimore Angel's investments include Pilera Software, a property management platform that helps apartment and condo owners manage their buildings, and FunnelCake, a customer acquisition platform that helps businesses target and acquire new customers.


    Jeremy Tucker

    Jeremy Tucker, another angel investor in Baltimore, started investing in different startups in 2002. He is also a partner at many other Ventures and has invested in several successful startups such as BitFolk, a cloud technology provider, and ReferenceEdge Solutions, an enterprise software company.


    However, compared with other angel investors, Jeremy Tucker is known for conducting tough screening tests to ensure that the best startups receive the funding. 


    Tucker mainly looks for projects that have the potential to transform existing markets through innovative ideas. His investment range spans from $100K to $2M, and he offers regular mentorship to the projects he invests in.


    Wrap-Up

    So, here are some of the top angel investors/ VC firms and startup accelerators in Baltimore. No doubt, all these individuals have contributed immensely towards boosting the growth of startups in the city.


    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.


    Frequently Asked Questions

    Q: What are Pitch Decks?

    A: Pitch decks are concise and visually engaging presentations that entrepreneurs use to present their startup concepts to potential investors.


    These decks typically comprise slides highlighting key elements such as the identified problem, the proposed solution, market size, business model, team composition, financial projections, and competitive analysis.


    The primary objective of a pitch deck is to effectively communicate the startup's value proposition and persuade investors to consider providing the necessary funding for its development and growth.


    Q: How to find Angel Investors for free?

    A: Finding angel investors without spending anything involves a series of strategic steps.


    Begin by meticulously researching and identifying potential angel investors whose interests align with your startup's industry and vision.


    Actively participate in networking events, both in-person and online, to establish meaningful connections within the investment community. Craft a compelling and well-structured pitch deck that conveys your startup's uniqueness and potential for growth. Seek warm introductions whenever possible, as they can significantly enhance your credibility.


    Q: Why do Angel Investors question Startups about their experience?

    A: The interest that angel investors show in the experience of startup founders is because of different reasons.


    Firstly, seasoned founders possess the ability to mitigate risks effectively through their prior exposure to various business challenges. Their experience significantly bolsters the execution of the startup's vision, which can lead to higher chances of success.


    Moreover, these founders often bring valuable industry insights and a profound understanding of market trends and customer preferences, enhancing the startup's competitive edge. Their extensive network built over years of involvement in the field serves as a valuable asset for strategic partnerships and business growth.


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