When discussing Rhode Island, people think about Sandy Shores and the peaceful environment. 

However, we often forget that Rhode Island is also home to around 1,000 startups and is becoming a hub for fintech companies. Each year, angel investors fund dozens of startups, giving newer opportunities to business leaders.

But! You must think about how to select angel investors from such a huge number and pitch to them.

Well, don’t worry. I have researched and picked some of the most active investors. So, without any delay, here is the list of the top 6 angel investors in Rhode Island.

Top 6 Angel Investors in Rhode Island

Following is a list of some of the top angel investors, investment groups, and venture capital firms in Rhode Island.

Frederick J. Warren

LinkedIn: Frederick J. Warren | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech

Investment Stage: Early

Frederick Warren is an angel investor and is also the owner of Sage Venture Partners. He has been investing in startups since 2000 when he invested in WX Brands. 

Before Sage Ventures Partners, Warren co-founded Brentwood Associates, which became a leading venture capital investment firm on the West Coast. He was also employed at Plainview Capital and served as the president and chief executive officer.

Similarly, Warren’s investment preferences are primarily in the sectors of Enterprise Applications and High Tech. He has made around 10 personal investments and invested in around 30 companies through his venture capital firm.

When funding startups, Frederick Warren focuses on startups that can grow 2-3x within 24 months of the investment. He is also very strict when determining the leadership of the startup, as the startup leader must have 4-6 years of experience in the industry.

The investment range of Frederick Warren is between $50,000 to $200,000. Among his investments, 2 portfolio companies are:

Liftoff: This company is a mobile app marketing and retargeting platform. It uses machine learning and data-driven predictions to understand and engage users with personalized mobile advertising.

Human Headphones: This company is known for its innovative wireless headphones that offer translation features, touch controls, and spatial audio

Allan Tear

LinkedIn: Allan Tear | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech, Healthcare, Education, and SaaS.

Investment Stage: Early and Seed

Allan Tear is a well-known angel investor and co-founder of RevUp Capital. He has been actively investing in early-stage technology companies and focuses on high-growth startups. He has worked with over 120 startups through RevUp and managed a portfolio of companies that have raised more than $50M+ in follow-on funding.

Similarly, there is no doubt that Allan Tear is one of the most active and successful angel investors in the state. He has been involved in the startup ecosystem for around 10 years, having founded three venture-funded startups, Elastic Networks, Incanta, and WhyData. 

When funding startups, Allan Tear seeks businesses that present unique solutions. He always prioritizes companies that ease the lives of consumers and introduce new ideas. Even if the startup leaders do not have massive experience, can still secure an investment as long as they have a strong idea.

The investment range of Allan Tear is around $500,000. Some of his portfolio companies are:

BirdBrain Technologies: This company is dedicated to inspiring deep and joyful learning in all students through creative robotics. This company has raised a total of $1M in funding over 2 rounds.

TreatSpace: This company is a SaaS-based healthcare platform that provides referral management, care team collaboration, and patient engagement solutions. TreatSpace has raised a total of $3M in funding over 5 rounds.

Athlean-X: This company offers a workout program that is designed to enable users to work out at home or anywhere else.

Kevin Wendle

LinkedIn: Kevin Wendle | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech and Automotive

Investment Stage: Seed and Early 

Funding startups for almost 13 years, Kevin Wendle is also an experienced angel investor and provides funding to Rhodes Island-based startups. He is the co-founder of K2 Media1 and has a preference for investing in startups in the AdTech, MarTech, B2B sectors, and industries where he can assist early founders as they scale.

When investing in businesses, Kevin Wendle is extra careful and only invests where he understands some profit. This is also evident from his small portfolio, showing that Kevin Wendle doesn't like to take a lot of risks.

Aside from his investments, Kevin Wendle participates in and conducts a lot of startup events. He also guides his portfolio companies through workshops. 

The investment range of Kevin Wendle lies between $10,000 to $500,000. Among his investments, one notable company is:

Mojo Motors: Mojo Motors operates as a used car dealership, offering a great range of used cars from sports cars to family cars. They have used cars on display for sale with roadworthy and finance available. This investment - Seed Round - Mojo Motors - was valued at $1.7M.

Walker Williams

LinkedIn: Walker Williams | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech and Education

Investment Stage: Early

Walker Williams is an individual angel investor who has been funding startups in Rhodes Island for almost 4 years. He is the Co-founder and CPO of Fourth Wall and has a preference for investing in startups at the seed stage. 

Like most other individual investors, Walker Willaims also likes to meet startups and discuss their growth. He often treats his investor meetings as screening tests and gives proper chances for startup leaders to explain their ideas.

If the meeting goes successful, Williams invests a lot more into the business than just money. He guides his portfolio companies at different stages and ensures they can take a successful exit by securing massive profits. 

The investment range of Walker Williams ranges from $25,000 to $150,000. Some of his investments include:

Benable: Benable operates a recommendation platform that allows users to create organized lists of recommendations that can be shared with friends or invite people to collaborate. The platform makes it easy for users to get trusted recommendations from their friends and family. 

Riley: Riley Financial, Inc., is a financial services company that provides services to corporate, institutional, and high-net-worth clients. 

Verbling: Verbling is an online language learning platform that pairs individuals with language teachers via video chat. The platform enables users to create beautiful lists of recommendations that can be shared with friends, followers, or clients. Verbling raised $2.7 million in series A round funding.

RevUp Capital

Website: Non-Dilutive Funding For Early Stage Companies | RevUp Capital (revupfund.com)

Investor Type: Venture Capital Firm

Investment Interests: Tech and Food

Investment Stage: Seed and Late

RevUp Capital was founded in 2015 by Allan Tear, Bill Cesare, and Melissa Withers. It is headquartered in Providence and has funded around 30 startups in the last 9 years. 

Moreover, RevUp Capital is a non-equity investment fund that strictly focuses on revenue-generating companies. They provide cash investments and management support to B2B and B2C companies that have repeatable revenue to accelerate growth and human resources. 

Once a startup has been funded by the investors, the mentorship panel ensures they can provide the best guidance support. Each year, the network arranges 4-5 networking events and around 20 workshops that are restricted to the portfolio companies.

The investment range of RevUp Capital lies between $1M to $20M. Among their portfolio, some famous names are:

Cortex: This company provides a platform for data-driven marketing optimization. They offer numerous services related to marketing and data handling. 

Wicked Good Cookies: This startup offers custom cookie designs for various occasions. Although the business was first started in Massachusetts but now has branches in Rhode Island too. 

Slater Technology Fund

Website: Slater Technology Fund (slaterfund.com)

Investor Type: Venture Capital Firm

Investment Interests: Tech and Healthcare

Investment Stage: Early and Seed

Slater Technology Fund was founded in 1997 by Lincoln Almond and is headquartered in Providence. The network consists of around 10 investors and invests in early-stage technology ventures. They usually look for startups that are founded by entrepreneurs who have the vision and tenacity to build companies that aim to achieve transformational impact. 

Similarly, Slater Technology Fund arranges 2-4 pitching competitions every year and selects at least 4 deserving startups. As mentioned earlier, startups with the lowest competitors and experienced leaders are most likely to be selected. 

And let's not forget the dedication of Slater Technology Fund towards extra startup events. The fund co-hosts a panel discussion on angel investing at Brown University’s Carmichael Hall. They also host  “Slater Sushi & Networking” which brings technologists, investors, and entrepreneurs together.

The investment range of Slater Technology Fund ranges from $1M to $5M. Notable portfolio companies are:

Medrobotics: Medrobotics Corporation is a medical robotics company that offers a flexible robotic system for single-site surgery and natural orifice procedures1. They have raised a total of $206.5M in funding.

EpiVax: EpiVax is a biotechnology company that focuses on the development of vaccines and immunotherapies1. They have raised a total of $6.6M in funding.

Tizra: Tizra is a digital publishing platform that helps content creators and publishers to easily distribute and sell their digital content online. They have raised a total of $850K in funding.

Wrap-Up

Before we end things, I would advise you to properly research angel investors and some great examples of successful pitch decks. Remember that strong research increases your chances of securing an investment. 

Frequently Asked Questions