NYA News - Dec 2024: $8m in Investments YTDWhile pre-seed saw major declines across investments in Q3 2024, 2024 has been a solid year for NYA Member investment, which is up +$3m YTD vs. 2023.
While the industry saw major declines across pre-seed investments in Q3 2024, 2024 has turned out to be a solid year for NYA Member investments, which are up +$3 million YTD vs. 2023.
NYA Members have invested +$3 million across portfolio companies YTD (Jan-Nov 2024) vs. 2023 during the same time period.
NOVEMBER INVESTMENT HIGHLIGHTS
Buoy is a flavorless drink additive, offering a variety of wellness benefits including hydration, immunity, digestion and brain health. NYA Members first invested in Buoy in 2022 and over the past two years, the company has made some important pivots including changing their go-to-market strategy to focus on the chronic illness user and introducing new products like their Rescue Salt. NYA Members Kit McQuiston and Craig Frischling led the deal.
Membrion uses durable ceramic desalination membranes to provide a better and lower cost way to recycle and reuse industrial wastewater. After investing in 2023 in partnership with Harvard Business School Alumni Angels of Greater New York, New York Angels invested in Membrion again as the company has made progress on their go-to-market strategy by focusing their target market, signing critical commercial deals, and building out key positions on their team. Tom Hirschfeld led this follow-on investment.
FOUNDER SPOTLIGHT
Socure CEO & and Founder Johnny Ayers started the company after he had just turned 26 because he was driven by his deep belief in building the future of identity verification on the internet. Over ten years later, the company’s mission remains the same: to verify 100% of good identities in real-time and completely eliminate identity fraud on the internet. Johnny shares how New York Angels first invested in his crazy idea and introduced Socure to key customers. Johnny also gives tips to both founders and early-stage investors on why grit and perseverance are critical for success.
COMPANY NEWS
FINDMINE
Findmine CEO Michelle Bacharach was named one of Founder Forum Group's 100 Women Founders to Watch. Michelle has been leading the company on its journey to become the best AI-driven personal shopping service while driving revenue, improving margins, and building lasting loyalty with its customers. See the Full List of Women Founders
NYA MEMBER SPOTLIGHT
Donna Redel joined New York Angels in 2014 to explore deal opportunities with a diverse, accomplished membership. As someone who has taken on innovative assignments and often been a “first mover,” particularly as a woman in Fintech, Donna brings an incredible wealth of knowledge to NYA as a Board Member. Donna shares why it's important for founders to have a few trusted mentors when fundraising, how she helps contextualize tech innovations, and why dancing is an important part of her life.
MEMBER EVENTS CAKE AND CAP TABLES
The NYA Member Engagement team hosted its 10th educational event of 2024. As Part II of the series, this Cake and Cap Table session analyzed one of NYA's portfolio companies to discuss pre-money and post-money valuations, different sources of dilution, and the pros and cons of specific instruments.
COMMUNITY CONNECTIONS TECHFOUNDHER
Marcia Dawood, Angel Capital Association Chair Emeritus, discussd with the TechFoundHer community how angel investing can be a vehicle for meaningful change, allowing individuals to align their financial goals with positive social impact. Marcia also shared her new book Do Good While Doing Well.
CARTA
STATE OF PRE-SEED Q3 2024
While 2024 pre-seed investment started out very strong in Q1, the subsequent quarters showed significant declines. Total capital raised in pre-priced rounds has decreased 36% since Q2, although increased investment is likely in Q4 as additional companies record transactions. Additionally, in Q3, 89% of all pre-priced investments were structured as SAFEs. Post-money SAFEs have increased dramatically to 87% of all SAFEs, up from 43% in early 2020.
Investment Forum (Hybrid):
• December 16th (9:00 AM - 12:30 PM)
January (Hybrid):
• January 6th (9:00 AM - 1:00 PM)
FOUNDER DEADLINES
February Screening Application:
• January 13th
*New York Angels, Inc. ("NYA") is a not-for-profit corporation that is funded by membership dues for individuals and/or entities that NYA has designated as members as well as from certain sponsors. Its purposes include providing administrative support to its members. NYA does not invest in companies. Investments, if made, are made by individual members of NYA.
