Ohio TechAngel Funds (OTAF) is a group of for-profit angel investor funds, managed by Rev1 Ventures, that invests in highly promising, Ohio-based companies in IT, advanced materials, and life sciences. More than 300 high net worth, accredited investors have joined one or more of the funds, making OTAF one of the largest in the United States. The Ohio Third Frontier Program provides additional funding.
OTAF is currently accepting funding submissions for its OTAF V funds. OTAF makes initial investments of $150,000 to $280,000 in participating preferred stock or convertible notes and makes follow-on investments in the best-performing ventures.
OTAF members can make direct co-investments into OTAF portfolio companies in amounts ranging from $10,000 to over $100,000 per venture. OTAF leads and participates in syndications of $500,000 to more than $2MM by co-investing with other leading angel investors and angel funds, regional venture capital funds, and family offices.
Since 2004, Ohio TechAngels’ five funds have invested more than $18 million in 60+ Ohio-based technologies. The goal of the funds is to build wealth in Ohio by helping build great companies that can rapidly scale and attract the interest of strategic acquirers within three to five years. OTAF members have also made more than $18 million in direct co-investments in those same companies.
Ohio TechAngel Funds invests in high potential IT, software, bioscience, medical device, and advanced materials startups that meet certain criteria:
Ohio TechAngel Funds considers investment opportunities on a real-time basis. For companies located in the 15-county Columbus Region, OTAF works closely with Rev1 Ventures to identify and select qualified deal flow. Companies in the Columbus region can submit an inquiry form on the Rev1 Ventures website, and a Rev1 advisor will respond.
OTAF also participates in but typically does not lead, funding rounds for companies outside of the Columbus region.
For out-of-region deals, OTAF requires that companies first engage with their local Entrepreneurial Signature Program (ESP) provider or their local Angel Capital Association-member angel group.
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