Toledo has been ranked as the number one city for mid-sized business investment by Site Selection Magazine. The city has around $2.2 Billion worth of projects underway and is expected to create 3500 new job units.

And since the city has a huge potential for growth, many VC firms and angel investors have started funding startups, boosting the entrepreneurial landscape of Toledo.

Do you also have a startup worth investing in and can turn into a brand in the future?

Let's waste no more time and quickly jump onto the list of the top 6 angel investors in Toledo and some tips about pitching to them.

Top 6 Angel Investors in Toledo

The following list highlights some of the top-ranked venture capital firms that fund startups in Toledo.

Sica Ventures

Website: Sica Ventures

Investor Type: Venture Capital Firm

Investment Interests: Aerospace, Defence, and Space.

Sica Ventures is one of the famous names that fund startups in Toledo. The venture capital firm was founded in 2005 by John Sica and Ralph Schlosstien. Since its inception, they have funded around 30 startups, most of them related to tech and aerospace.

Similarly, Sica Ventures always focuses on startups that can bring a positive change in their related business markets. The investor panel consists of more than 10 investors who evaluate different factors before funding a startup.

Once a startup has been funded, Sica Ventures also provides it with proper guidance through mentorship programs and business workshops. Currently, they aren't hosting any accelerator programs or networking events, as their main focus lies on funding startups.

The investment range of Sica Ventures ranges from $100,000 to $800,000. Some of their recent portfolio companies are:

Holocron Technologies: Holocron Technologies is a company that uses AI for global domain awareness solutions in Science and technology. They use publicly available information to track global science and technology developments.

Kall Morris Inc. (KMI): KMI is a debris research and solution development company focused on Active Debris Removal.

Adranos Energetics: Adranos Energetics develops propellants, explosives, and other energetic materials for use in space and military platforms.

Pay Theory: Pay Theory is a payments company built for SaaS platforms serving industries: education, healthcare, childcare, etc. They provide an inclusive payment solution that accepts cards, ACH, and cash.

Zapis Capital Group

Website: Zapis Capital Group

Investor Type: Venture Capital Firm

Investment Interests: Tech, Media and Software.

Zapis Capital Group is a venture capital firm that invests and guides startups at the seed stage. The network was founded by a famous investor and entrepreneur, Micheal Mauer, in 2005.

Ever since its inception, they have funded around 40 startups, most related to the fintech sector. The CEO, Micheal Mauer, had an extensive career as a business consultant and strategy development, so he understands which startups to invest in.

Once a startup has passed the rigorous screening tests of Zapis Capital Group, they are assured expert guidance from professionals. Their mentorship programs and business workshops are well known across Ohio, as ZCG partners with experienced entrepreneurs to deliver the best business advice.

The investment range of Zapis Capital Group ranges from 200,000 to several million dollars, depending on the startup. Recent companies in their portfolio are:

Axuall: Axuall is a workforce intelligence company that provides data and insights for network planning, analytics, and credentialing for healthcare. They offer a national real-time practitioner data network that connects healthcare organizations.

COMS Interactive: COMS Interactive is a healthcare tech startup that produces SaaS products for the healthcare industry. 

Cleveland HeartLab: Cleveland HeartLab offers innovative, scientifically proven, and medically relevant biomarkers that predict cardiovascular risk.

Procter & Gamble Ventures Studio

Website: P&G Ventures 

Investor Type: Venture Capital Firm

Investment Interests: Tech, Consumer Products, and Healthcare.

Procter & Gamble Ventures Studio is a famous Procter & Gamble venture capital division. The network was founded by Leigh Radford to fund startups located in Ohio. In their early years, P&G Ventures Studio only funded startups in Cincinnati, but currently, they are also funding startups in other cities, including Toledo.

The network focuses on startups that are producing unique ideas in the market and have the potential to grow. The investors usually plan for a 2-3 year exit on most startups and invest accordingly. Their Virtual Innovation Challenge( a pitching event held every year) has helped many startups pitch to investors and secure funding.

The investment range of P&G Venture Studio isn't mentioned on their website. However, most of their previous investments are around $1-$5M. Some previously funded startups are:

Zevo: Zevo is a brand that offers a line of safe and powerful insect control products.

Kindra: Kindra is a direct-to-consumer brand focused on providing scientifically-backed products and education to aid the menopause journey.

Bodewell: Bodewell is a brand that offers a line of skincare products.

OPTE: OPTE is a beauty device that scans, detects, and corrects hyperpigmentation to reveal the natural skin.

James Nusbaum

LinkedIn: James Nusbaum | LinkedIn

Investor Type: Individual Angel Investor

Investment Interests: Tech

James Nusbaum is an individual investor based in Toledo, Ohio, United States. He is an experienced food service executive and licensed attorney with expertise in team building, strategic planning, and the development of positive employment cultures.

As an angel investor, James Nusbaum started funding startups in 2010. He usually focuses on funding startups at the seed stage but also funds late-stage startups depending on the growth potential and estimated ROI.

After funding the startups, James Nusbaum, unlike many other investors, doesn't remain too involved with the entrepreneurs. Similarly, he also doesn't have any record of arranging any public mentorship programs or networking events.

The investment range of James Nusbaum depends on the type of startup. From most of his previous investments, Nusbaum usually invests around $200,000. A famous successful company under his portfolio is:

Hidrant Inc.: Hidrent Inc. is a platform that connects off-duty firefighters to homeowners who need help with a variety of tasks1. The platform allows homeowners to post jobs they need help with, and firefighters can pick up these jobs.

Terry Terhark

LinkedIn: Terry Terhark | LinkedIn

Investor Type: Individual Angel Investor

Investment Interests: Tech, Software, and Consumer Products.

Terry Terhark is an individual investor who lives and funds startups in Toledo, Ohio. He is an entrepreneur in talent acquisition technology and continues to build on more than 30 years of experience in the recruiting industry. He has also founded and grown several highly successful recruiting technology brands.

When funding startups, Terhark focuses on the recruiting sector and funds startups at the seed stage. He conducts strict screening tests to ensure only the most deserving startups make it through. Aside from investments, Terry Terhark also arranges different networking events and mentorship programs to guide startups through different challenges.

The investment range of Terry Terhark ranges from $50,000 to $400,000. One of his famous investments is:

StartWire: StartWire is a web-based application that provides automatic updates on job applications. It offers job seekers an automatic application status update from thousands of employers.

John W. Snow

Investor Type: Individual Angel Investor

Investment Interests: Automotive and Software.

John Snow is an individual investor based in Toledo, Ohio, also known as the former U.S. Secretary of Treasury. He has recently started funding startups around 2020 and only has 3 investments in his portfolio. His average round investment is 36.68M USD, and he makes an average of 1 investment per year.

He has recently invested in a company called e.GO, which is based in Germany and operates in the automotive sector. It is an electric car manufacturer known for its model, the e.GO Life.

How to Pitch To Angel Investors?

Different angel investors have unique preferences and mindsets. To successfully pitch to angel investors, it is important to:

Create a Great Pitch Deck

When pitching to investors, the most important factor is to ensure your pitch deck meets their expectations. Most investors are usually looking for entrepreneurs who know their competitors, understand their business market, and have a set plan to boost their brand, utilizing the provided capital.

Before pitching to investors, it is recommended to see some examples of compelling pitch decks to achieve the best results.

Network With Investors

Another great way to secure an investment from angel investors is by networking with them before participating in the pitchdecks. And if you're thinking about where to meet such investors, the answer is Networking Events.

Most VC firms and startup incubators invite famous investors to networking events. You can research and participate in such events to introduce your startup, ask about what the investor loves to see in a startup, and increase your chances of securing an investment.

Wrap Up

Finally, always remember that angel investors look for profitability in startups. If your startup has great chances of success, stands out from its competitors, and has a hardworking team, angel investors will definitely provide you with the funding.

Frequently Asked Questions