Pointe Angels, an investment club in Grosse Pointe, reports it marked its fifth anniversary in 2024 with its most impactful year to date.
Pointe Angels is an industry-agnostic social club of independent investors who meet monthly in Grosse Pointe to evaluate and support high-potential startups.
Last year, Pointe Angels investors directly deployed $1.5 million in angel capital resulting in more than $10 million in leveraged investments into 14 innovative startups, raising pre-seed, seed, seed-extension, and Series A rounds, and adding 10 new ventures to the club portfolio.
Eight of the 14 companies that received funding are based in Michigan, and are active in AI, cleantech, digital transformation, and life sciences. They include CatalystXL, Ecovia Renewables, FreightRoll, Life Magnetics, M3D, SciTech Development, Stunio, and VERN AI.
Pointe Angels also welcomed startups from across the U.S. and Canada to the club portfolio — Avana Health, Blip Energy, Electric Fish, June Brain, Nanotherm, and Vessl Prosthetics.
“Our club is where innovation meets capital,” says David Bloom, executive director of Pointe Angels. “We put a big emphasis on angel-added value — an investment more valuable than money — to de-risk and grow our ventures.
“Last year’s investments support Michigan’s innovation ecosystem while encouraging the broader venture community to see Michigan as a vibrant hub of entrepreneurial opportunities.”
Recent data from the startup analytics firm Carta reflect the region’s upward trajectory in venture capital activity. Detroit/Ann Arbor ranks 18th nationally for pre-priced rounds, 13th for seed-stage funding, and 15th for Series A investments among major metropolitan areas.
“It’s great to see how far this club has come in just five years,” Bloom adds. “Our members’ investments of angel capital and angel-added value made 2024 our best year yet.”
Looking ahead, Pointe Angels states it remains committed to fostering innovation within Michigan while serving as a gateway for out-of-state companies to land and grow here. As the ecosystem continues to thrive, the group hopes to play a meaningful role in shaping the future of venture capital in the region.
For more information about Pointe Angels, its investments, and how to join, visit pointeangels.com/.
