JumpStart NJ Angel Network Reports Record Year of Growth

Garden State angel group invested more than $2.2 million in early-stage companies last year

On Jan 26, 2022

JumpStart New Jersey Angel Network invested more than $2.2 million in 2021, an increase of 25% from the prior year, while the group’s membership rose by nearly one-third.

JumpStart NJ’s investments in 2021 were its highest since at least 2017. New Jersey companies receiving funding included SunRay, based in Eatontown, and Calamu, based in Clinton.

The angel group also had success with exits in 2021, with one investment producing a 17x return on capital.

“JumpStart NJ had a banner year in 2021. From deal flow and exits to our growing membership, our angel group continues to build on its momentum from last year,” said Stephen Dyer, board chair of JumpStart NJ. “This year, we look forward to investing in more companies with innovative technology that is disrupting traditional businesses.”

Membership in JumpStart NJ increased 30% in 2021. Membership is open to accredited investors as defined by the Securities and Exchange Commission. JumpStart NJ members include business leaders from a variety of industries and entrepreneurs who have had successful exits. Besides investing funds, members provide coaching to the early-stage companies.

“The funding is important, of course, but so is the mentorship our members can offer to the startups in our pipeline. Our members want to share their deep knowledge and expertise, as well as their dollars,” said Gina Tedesco, membership chair of JumpStart NJ.

JumpStart NJ invests in early-stage growth companies with high potential and innovative technology that disrupts traditional businesses. The group’s members prefer to invest in companies that are generating revenues and with pre-money valuations typically under $10 million.

Primary areas of investment interest include, but are not limited to: SaaS B2B, health tech, ag-tech, medical devices, manufacturing, alternative energy, shipping/logistics tech, cybersecurity and consumer packaged goods.

JumpStart NJ invests in New Jersey, the Mid-Atlantic region, and beyond. Founded in 2002, it has developed strong relationships with the angel and venture capital communities in New Jersey, New York, Philadelphia and Boston. JumpStart NJ’s sponsors, including EisnerAmper and Stevens & Lee, help the angel group support technology innovation in the region and beyond.

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