Top Angel Investors and VC Firms in Massachusetts
With famous startup events like Boston Startup Week, no doubt Massachusetts is going through amazing growth. The state has created many successful startups over the years, some of which are already worth billions of dollars.
AngelMatch tracks 3,000+ investors based in Massachusetts, from individual angels to venture capital firms. This guide highlights six of the state's most active investors: Wayne Chang, Jeff Fagnan, Jason Robins, Jonathan Bush, G20 Ventures, and Hyperplane Venture Capital. Many of the state's startups get their funding from a mix of angel investors and VC firms, so we've put together this list of top angel investors and VC firms in Massachusetts.
Top Angel Investors and VC Firms in Massachusetts
Following is the list of some of the top-ranked angel investors and VC firms in Massachusetts. Even though most angel investors prefer Boston startups, there are many investors who are willing to fund startups throughout the state. If you're weighing an individual angel check against a VC-scale round, it's worth browsing AngelMatch's full list of venture capital firms alongside the angels below.
Wayne Chang
- LinkedIn: Wayne Chang
- Investor Type: Individual Investor
- Investment Interests: Tech
- Investment Stage: Early
Investing for almost a decade, Wayne Chang is one of the most active and well-known angel investors in Massachusetts. He has been named as one of the Forbes Top 50 Angels investors and one of the 40 under 40 By Boston Business Journal.
With involvement in more than 80 startups, Wayne Chang likes to invest in startups that can grow and promise profitability. He prefers funding startups led by experienced entrepreneurs.
Chang is a serial entrepreneur and investor. He utilizes his knowledge to guide his portfolio companies through mentorship programs and workshops.
Some of his portfolio companies are:
Digits: Digits is a fintech company that offers financial tools for small businesses. It is the world’s first Accounting AI, delivering clean bookkeeping, fast reports, and powerful insights.
Patented.ai: Patented.ai is an intellectual property engine provider. The company provides intellectual property products that deliver both depth and quality of data.
Crashlytics: Crashlytics was a Boston, Massachusetts-based software company. Crashlytics helps collect, analyze, and organize app crash reports. Twitter acquired Crashlytics for over $100 million.
Jeff Fagnan
- Website: Jeff Fagnan
- Investor Type: VC Partner (Accomplice VC) & Angel Investor
- Investment Interests: Tech
- Investment Stage: Early and Seed
Jeff Fagnan is the founding and managing partner of Accomplice VC, one of the most active early-stage venture firms in New England, and a well-known angel investor in his own right. He is recognized for his long-term, patient capital approach to building companies alongside mission-oriented founders and CEOs. He is also the founder of Spearhead, Maiden Lane, BOSS (Boston Syndicate), TUGG (Technology Underwriting Greater Good), TINT, and REV Boston.
Fagnan prefers to invest in startups across various sectors. He usually invests in sectors that have massive growth potential and provide unique solutions in their related sectors. Through Accomplice VC and his personal angel investing, he has diverse entrepreneurial experience.
Once Jeff Fagnan funds a startup, he provides them with guidance throughout their growing journey and also monitors their performance. Unlike other investors, Jeff Fagnan usually funds startups through investor meetings and startup events.
Some of his notable portfolio companies are:
AngelList: AngelList is a U.S. website for startups, angel investors, and job-seekers looking to work at startups. It is the parent company of AngelList Venture, AngelList Talent, and Product Hunt.
Orchard: Orchard is a music distribution company that empowers creators to grow and adapt in the dynamic, global industry.
WHOOP: WHOOP is an American wearable technology company headquartered in Boston, Massachusetts. Its principal product is a fitness tracker that measures strain, recovery, and sleep. The device is best known for its use by athletes.
Jason Robins
- LinkedIn: Jason Robins
- Investor Type: Individual Investor
- Investment Interests: Tech and Media
- Investment Stage: Early
With a total of 17 investments under his portfolio, Jason Robins is also a well-known investor and entrepreneur. He is also the co-founder of a famous company, DraftKings, and hosts several startup programs.
When funding startups, Jason Robins likes to fund ventures that present unique products/services. He prefers startups that have the potential to grow and usually invests through fundraisers, startup accelerators, or networking events.
Like most investors, Jason Robins also guides his portfolio companies through different workshops and related events.
Some of his investments include:
Knot: The Knot Worldwide is an American media and technology company that provides content, tools, products, and services for couples who are planning weddings, creating a home, and starting a family. The company operates in 16+ countries.
Givingli: Givingli is a company focused on modernizing the gifting process. The company offers a platform for sending customizable digital greeting cards and optional eGifts, with features such as scheduling, reminders, and a wallet for managing gifts.
Jackpot: Jackpot is an online platform designed to convert money into gift cards in real time. The company enables users to obtain an e-gift card to give or spend at a retailer of their choice instantaneously.
Jonathan Bush
- LinkedIn: Jonathan Bush
- Investor Type: Individual Investor
- Investment Interests: Healthcare
- Investment Stage: Early
Jonathan Bush is an active angel investor who provides funding to healthcare startups. He has funded a total of 13 companies and continues to grow his portfolio. Previously, he served as an Advisory Board Member at Innovaccer and Sana Capital and as an Advisor at Triton. He also served as a Board Member at PatientPop.
When funding startups, Jonathan likes to invest in healthcare-related startups that are working for the betterment of the community. He mainly focuses on the ideas of the startups and invests accordingly.
Even if a startup doesn't seem to have massive growth potential, Bush believes in investing and guiding startups as long as they have strong ideas and are led by experienced individuals.
Some of his investments include:
SonderMind: It is a company that aims to redesign behavioral health to become more accessible, approachable, and utilized.
Elation Health: It provides an Electronic Health Records (EHR) platform designed to allow physicians to focus on their patients and deliver high-quality care.
G20 Ventures
- Website: G20 Ventures
- Investor Type: Venture Capital Firm
- Investment Interests: AI and SaaS
- Investment Stage: Series A
Known as one of the biggest tech venture capital firms in Massachusetts, G20 Ventures likes to fund tech startups at the Series A stage. It was founded in 2013 by Bill Wiberg and Bob Hower. G20 Ventures aims to go big and usually invests above $2M.
They conduct rigorous screening, ensuring only the most deserving startups can secure the investment. The process begins with an online application filled out by the startup's leader. If selected, entrepreneurs get to pitch to the investment team (consisting of around 3-5 investors).
Aside from their investment activities, G20 Ventures is also known for its dedication to the startup community, arranging startup events and growth programs aimed at early-stage businesses.
The investment range of G20 Ventures ranges from $2M to $5M. Some of their portfolio companies are:
Fetcher: Fetcher is a platform that automates certain aspects of the job candidate sourcing process. The platform ties in with ATS products as well as Gmail and Outlook to allow recruiters to source candidates directly from LinkedIn.
Frame AI: Frame AI is an AI-driven platform for Customer Intelligence. It uses AI to estimate costs and predict revenue outcomes associated with complex customer interactions. Frame AI raised $7.6 million in funding.
CloudZero: CloudZero is a SaaS platform that automates the collection, allocation, and analysis of cloud cost data to reveal opportunities for savings. It provides engineering teams with cost data in a unified dashboard. CloudZero raised $32 million in a Series B funding round.
Hyperplane Venture Capital
- Website: Hyperplane
- Investor Type: Venture Capital Firm
- Investment Interests: AI, Robotics, and Enterprise Software
- Investment Stage: Early and Seed
Hyperplane Venture Capital is also a notable VC firm that funds startups in Massachusetts, backing founders building machine intelligence, sensor technology, and data-driven companies.
When funding startups, Hyperplane Venture Capital aims to invest in ventures that are facing strong growth and have a strong team and market idea. Once funded, Hyperplane Venture Capital also guides its portfolio companies through many startup events and numerous workshops.
The investment range of Hyperplane Venture Capital ranges from $250,000 to $3M. Notable portfolio companies are:
Butlr: Butlr is a private-by-design people-sensing platform using body heat to detect occupancy, headcount, and body posture.
LinkSquares: LinkSquares is a Boston-based AI-powered contract management and analysis platform used by legal and finance teams to review, negotiate, and track contracts.
Flume Internet: Flume Internet is a modern fiber company bringing new home broadband options.
Wrap-Up
In conclusion, always do proper research before pitching to any of the investors. Most investors are often interested in the growth potential of the startup and select startups with the lowest competition.
See some good examples of a pitch deck, and use AngelMatch's investor database to find the right fit before you reach out.
Frequently Asked Questions
How much do angel investors in Massachusetts typically invest?
Individual angels on this list typically write checks in the low hundreds of thousands of dollars at the early stage, while Massachusetts VC firms such as G20 Ventures and Hyperplane Venture Capital write larger checks, usually starting around $250,000 and reaching several million dollars per round.
What industries do Massachusetts investors focus on?
Massachusetts investors are especially active in healthcare, fintech, and enterprise AI, reflecting the state's strength in biotech, insurance, and Boston's growing tech scene. Several investors on this list, including Jonathan Bush and Hyperplane Venture Capital, focus specifically on healthcare and machine intelligence startups.
Should I approach individual angels or VC firms first in Massachusetts?
Early-stage founders typically approach individual angels first, since angels invest smaller amounts and decide faster. VC firms like G20 Ventures generally look for a product already in market with some early customer validation before writing a check.
How to make your startup investable to Massachusetts investors?
To make a startup investable, focus on a scalable business model, a strong team, a well-defined market opportunity, and evidence of market validation.
