With almost 13 million people, Pennsylvania is growing expeditiously and so is the startup culture. The state has around 10,000 startups and the number keeps increasing, thanks to the angel investor.

Every year, there are hundreds of startups that secure funding by pitching to angel investors, private equity firms, and venture capitalists.

Do you also want to know these firms and individual investors?

Well, I got you covered. Following is the list of the top 6 angel investors in Pennsylvania with most of them being headquartered in Pittsburgh and Philadelphia.

Top 6 Angel Investors in Pennsylvania

Before we jump onto the list, always remember that additional research is necessary. Researching about angel investors allows you to understand their mindset and you can increase your chances of securing the funding.

Josh Kopelman

LinkedIn: Josh Kopelman | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech, Clothing, Healthcare and Education.

Investment Stage: Early 

Josh Kopelman is an American entrepreneur and a famous angel investor. Kopelman has consistently been ranked as one of the world’s top 20 venture capitalists. He is an investor, director, and advisor to many companies including OnDeck Capital, Flatiron Health, Aster Data Systems, and Knewton, Gigya.

Funding startups since the early 2000s, Josh Kopelman often funds startups through his venture capital. When making individual investments, Kopelman likes to invest through fundraisers and meet deserving startups through accelerators.

Like most other investors, Josh Kopelman also believes in guiding startups when things don't go their way. Thanks to his diverse experience, he often leads workshops and helps his portfolio companies.

The investment range of Josh Kopelman lies between $50,000 to $200,000. Some of the startups and companies he has invested in are:

Gigya: Gigya is a provider of a customer identity management platform that helps companies build trusted customer relationships based on transparency and personal data control.

AltSchool: AltSchool is a network of schools with an interdisciplinary team aimed at offering experiential learning.

The Black Tux: The Black Tux is a formal wear rental startup that designs and manufactures modern rental suits and tuxedos.

Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens, and beyond.

Ashok Trivedi

Investor Type: Individual Investor

Investment Interests: Tech, Event Management, and Healthcare. 

Investment Stage: Early

Being one of the most active investors in Pittsburgh, Ashok Trivedi is also known for co-founding successful technology companies such as IGATE Corporation and Mastech Digital. As the managing partner of SWAT Capital, he has invested in over 50 early-stage technology and financial services businesses. He takes a keen interest in PIPE and co-investments.

When making individual investments, Ashok Trivedi analyzes the profitability and idea market of the specific business. If the business has low competitors and can generate at least 3x ROI within 2 years, it is most likely to secure an investment.

Similarly, Ashok Trivedi also takes an interest in guiding startups and arranging additional startup events. In the last 3 decades, Trivedi has arranged around 25 startup accelerator programs and attended numerous networking events to select and fund deserving ventures.

The investment range of Ashok Trivedi ranges from $25,000 to $100,000 as he mostly makes early stage investments. Among his portfolio, some successful names include:

Invertica: Invertica Inc. is a developer of a direct marketing platform. The company raised $2M in a Series A funding round.

CBay Systems: CBay Systems Pvt. Ltd. is a healthcare BPO company that offers medical transcription and other value-added services. 

Cvent: Cvent, Inc. is a privately held SaaS company that specializes in meetings, events, and hospitality management technology. It provides a comprehensive event marketing and management platform as well as a global marketplace where event professionals collaborate.

Keystone Angel Investors

Website: Home | Keystone (keystonedistrict.org)

Investor Type: Angel Network

Investment Interests: Tech and Renewable Energy

Investment Stage: Early and Seed

Keystone Angel Investors is a well-known angel group that funds Pennsylvania-based startups. The network was founded and has funded around 50 startups.

When funding startups, Keystone Angel Investors focus on startups that have strong chances of growth and are led by experienced leaders. The team of investors usually has separate questions and presentation phases as the team leaders are given time to convince the investors.

Once a startup has been funded, Keystone Angel Investors also provide it with the much-needed funding and guide the startup across different startup stages.

The investment range of Keystone Angel Investors ranges from $100,000 to $1M. Some of their notable portfolio companies are:

Chesapeake Energy Corp: Chesapeake Energy Corporation is an American company engaged in hydrocarbon exploration. It is named after the Chesapeake Bay by Aubrey McClendon and Tom L. Ward. 

Accenture Plc: Accenture Plc is a multinational professional services company that provides services in strategy, consulting, digital, technology, and operations.

NVIDIA: NVIDIA Corporation is an American multinational technology company. It designs GPUs, and APIs for data science and high-performance computing.

RLX Technology Inc: RLX Technology Inc. engages in the manufacture and sale of e-vapor products. It serves partner distributors and retail outlets

Innovation Works

Website: Homepage - Innovation Works

Investor Type: Venture Capital Firm

Investment Interests: Life Sciences, Hardware, Manufacturing, and, SaaS

Investment Stage: Early

Founded in 1999 by Lisa Greenleaf, Innovation Works is one of the most active venture capitalists in Pennsylvania. Headquartered in Pittsburgh, Innovation Works has invested in around 700 startups and is looking forward to funding more deserving businesses.

Similarly, the network consists of around 30 investors who are working together and always on the lookout for profitable investments. During the screening tests, the investors always question the growth potential and only provide funding to startups that can generate 3-4x ROI.

The investment range of Innovation Works is between $50,000 to $200,000 as they only fund startups at the early stage. Some of their portfolio companies are:

Shelfmark: Shelfmark is a remote inventory management platform powered by AI. It provides real-time product data and optimizes product inventory for retailers and suppliers. It was founded in 2022 and is based in Pittsburgh.

Foundera Beauty: Foundera Beauty is an online marketplace that sells makeup products. It uses artificial intelligence to help customers shop and search for foundation and concealer online.

Safe Space Technologies: Safe Space Technologies develops robots using UVC disinfection technology to provide safer environments for customers. It is based in Pittsburgh.

Connectic Ventures

Website: Connetic-Ventures – Accessible Venture Capital (conneticventures.com)

Investor Type: Venture Capital Firm

Investment Interests: Consumer, Fintech, Big Data & Analytics, Government Technology, SaaS

Investment Stage: Early and Seed

Connectic Ventures is also an active venture capital firm in Pittsburgh. The network is known for using AI bots to analyze startups in screening tests and funds all across Pennsylvania. 

Since its inception in 2014, Connectic Ventures has made around 150 investments in early and seed-stage startups. Although they have a network of 15 inventors, Connectic Ventures still uses AI analysts to determine the growth potential of a startup and invest accordingly.

Similarly, the VC firm doesn’t arrange onsite pitching competitions or any physical mentorship programs. Thanks to their utilization of online artificial intelligence, everything is handled online.

The investment range of Connectic Ventures lies between $200,000 to $500,000. Some of their portfolio companies are:

SupportPay: SupportPay is a platform that automates child support payments, making the process easier for parents. They raised $3.1M in a seed round on Dec 14, 2023.

Unbox the Dress: Unbox the Dress is a service that transforms wedding dresses into smaller, more practical heirloom pieces. The startup operates in Pittsburgh and provides services throughout Pennsylvania. 

Chezuba: Chezuba is a Corporate Social Responsibility platform that provides a solution for all corporate social responsibility needs. It helps engage employees through volunteering and giving, build an impact brand, and drive purpose in the corporate culture.

TiE Philadelphia Angels

Website: TiE Philadelphia | Global Entrepreneurship Organization

Investor Type: Venture Capital Firm

Investment Interests: Tech, Healthcare, Education, Consumer Products, and Data Security

Investment Stage: Early and Seed

TiE Philadelphia Angels is a network of some of the most experienced angel investors. The network is a sub-branch of TIE Global and has funded more than 80 startups.

Like most other investment groups, TIE Philadelphia also focuses on startups that can help them secure profits and expand their portfolio. Each year, they arrange dozens of startup events and 4-5 pitching competitions.

Aside from investment activities, TiE Philadelphia arranges startup accelerators, networking events, and business workshops. 

The investment range of TiE Philadelphia Angels is between $100,000 to $1M. Some of their portfolio companies are:

6Sense Insights: 6Sense Insights is a company that offers a platform driving predictable revenue growth. The company provides services uncovering anonymous buyers, understanding their behavior, and directing you to engage the ones most likely to buy.

Nortek Security & Control: Nortek Security & Control is a leading developer of technology for security, home automation, control, power, AV, and entertainment.

Paysafe: Paysafe Limited is a multinational online payments company that offers payment processing, digital wallet, and online cash solutions to businesses and consumers.

Wrap-Up

Before we conclude, always keep in mind that angel investors want to fund startups that will generate high profits. Ideas that have the potential to 2x or 3x the investment are always loved by angels and venture capitalists. 

Similarly, when pitching, you should always try to present your businesses that offer solutions and are a profitable investment. 

Frequently Asked Questions