Illini Angels is moving fast and making big moves in its first year. The angel investing network has backed six companies since March 2023 and has grown to 70 members.
“Illinois Ventures launched Illini Angels knowing our alumni are world-class and their leadership in the network would create a world-class angel investing group. The success of our inaugural year underscores the incredible power of Illini supporting Illini,” Nancy Sullivan said. She is CEO and managing partner of Illinois Ventures, the University of Illinois System’s venture capital arm that administers Illini Angels.
“cystetic Medicines is thrilled to be backed by Illini Angels,” said Dr. Martin Burke, co-founder of cystetic, the May and Ving Lee professor for chemical innovation, and professor of chemistry at the University of Illinois Urbana-Champaign. “They’re deeply engaged with the portfolio companies and dedicated to everyone’s success in ways that few are.”
In its first year, Illini Angels invested in these faculty, student, and alumni founded companies:
- Ascent Integrated Tech, whose digital dashboard tracks firefighters as they work, presents a holistic picture of the scene, and provides for informed, real-time decisions.
- cystetic Medicines, which uses molecular prosthetics to develop therapies for people with Cystic Fibrosis.
- DeepWalk, whose scanning software automatically inspects sidewalk systems for Americans with Disabilities Act compliance.
- FirstIgnite, which is building an AI-based tool for research institutes to match their work to markets, companies, and contacts most interested in partnering.
- Natrion, which pioneers new materials for next-generation batteries.
- One additional company will be announced soon.
“Speed and enthusiasm equal impact, and impact is what we are here to deliver – for our investors, our founders, their innovative companies and for the state. The network represents a huge acceleration of everyone’s goals and a real reflection of everyone’s passion for big innovative ideas,” Paul Magelli said. He is an alumnus of the University of Illinois Urbana-Champaign and was named the first director of Illini Angels in July 2023.
“It’s pretty amazing that it has already been a year, but even more amazing is what the team has accomplished in that first year. Illini Angels is a terrific opportunity for new angels and a tremendous network for our members, founders, and portfolio companies,“ said Scott Rose, managing partner at Rose Investors and a founding member of Illini Angels.
About Illini Angels
Illini Angels is a powerful network of alumni investors – a team that brings decades experience in investing, innovating, building market leading companies, establishing connections, and encouraging the highest-impact relationships. A program of Illinois Ventures, Illini Angels draws talent, ideas, startups, and members from all three University of Illinois System campuses. The network includes members from all three universities in the University of Illinois System, and it is supported by the system, the Illinois Department of Commerce and Economic Opportunity, and the Champaign County Economic Development Corporation.
Interested in becoming an Illini Angel? Find out more here.
