Alleghenies Angel Fund: Interview with Justin Mandel
The Alleghenies Angel Fund is a relatively new organization that is providing opportunities for companies and entrepreneurs that are looking to get started on their big ideas.
Founded in 2019 by a group of investors and entrepreneurs in the Southern Alleghenies region, the purpose of the organization is to provide resources and a community to connect with. The members of Alleghenies Angel Fund are interested in providing investments to startup companies in the region and beyond.
First Frontier Forward sat down with Justin Mandel, Chair of the Alleghenies Angel Fund, to discuss what the organization is doing for our area.
“We’re a private investment group that’s looking at what we call ‘seed stage investment.’ Typically, these are companies or entrepreneurs that are raising their first money,” Justin says. “Before they’re ready to go to more institutionalized capital sources, they come to seed stage investors or angel groups like ours.”
“We invest between 50,000 and 150,000 dollars in any company we choose. That money is designed to help that entrepreneur grow their venture to a point where they’re ready to take on more institutionalized capital.”
Although funding is not geographically limited in any way, the organization looks carefully at companies and entrepreneurs that are relatively local to the area. “Our membership is primarily in Blair and surrounding counties,” Justin says, “and our membership is interested in supporting companies in the Central Pennsylvania area. We look really hard at entrepreneurs that come to us from the Southern Alleghenies footprint. Those counties are Cambria, Blair, Huntingdon, Somerset, Bedford, and Fulton.”
The Alleghenies Angel Fund is not only a capital source. It also offers advice and networking opportunities through their membership. Today, the organization consists of approximately 50 individual members and 3 institutional investors. “We can provide connections to almost any industry, both in Pennsylvania and beyond,” Justin says.
“Anybody who is interested in growing their venture should get in touch with us,” says Justin. “We’re not industry specific. We look at entrepreneurs across the spectrum.”
The Alleghenies Angel Fund is always seeking entrepreneurs and ventures to invest in. The best way to contact them is through their website, https://www.allegheniesangelfund.com/.