Angel investor groups across Texas are forming an alliance to attract more investors, make larger joint investments in young companies and simplify the process for entrepreneurs.
"Our goal is to make it easier for entrepreneurs to get their deal in front of multiple angel networks," said Jamie Rhodes, chairman of the Central Texas Angel Network in Austin who is leading efforts to launch the alliance. "This is incredibly important, since angel investing is such a major part of the economy, which is in the doldrums. Start-ups create the vast majority of jobs in the nation."
At least seven of 18 Texas angel groups are backing the nonprofit alliance, which should be formalized next year under the potential name Alliance of Texas Angel Networks. In addition to Rhodes' group, the alliance includes the Baylor, Concho Valley, Houston, North Texas, South Texas and West Texas angel networks.
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