One of the state’s most prominent angel investment groups has named a new CEO months after saying that the time had come for the nonprofit organization to embrace a new vision and new leadership.
Arizona Tech Investors, or ATI, has selected Bob DeLean as chairman, CEO and managing director, taking over from James Goulka, the current chairman and managing director, who is retiring at the end of the year after leading ATI for 12 years.
DeLean, ATI’s current vice chair for candidate identification and evaluation, has been an investor with the group for more than 11 years, making 28 angel investments in early stage and startup companies, primarily in Arizona, since 2004. His experience includes time as a senior equity analyst with wealth management and capital market firm Morgan Keegan & Co. Inc., which is now part of Raymond James Financial Inc.
“Bob’s considerable knowledge of angel investing and his analyst perspective to making diligent funding decisions make him the ideal fit to take over the helm of ATI,” Goulka said in a statement. “We look forward to having him spearhead ATI’s continued growth.”
When he takes the helm, DeLean will oversee investments and memberships at ATI. The 501c(6) organization was founded in 2007 and focuses on companies in software-as-a-service, technology and life sciences, and it has made more than 115 investments into Arizona’s startup ecosystem.
“With over 100 members and investments of over $23 million in 94 companies, ATI is one of the pillars of the vibrant startup ecosystem we now have in the Southwest,” DeLean said in a statement. “I’m eager to expand ATI’s impact and results by leveraging that solid foundation to find new ways to connect the increasingly diverse pools of potential angel investors and early-stage companies to each other.”
During Goulka’s years in leadership, ATI has grown from 22 members to 108. Earlier this year, Goulka said the group is looking to double its membership to more than 200 in the near future. That’s part of a new vision that the group announced in May. That’s when Goulka announced his retirement and divided several of his responsibilities among a new leadership team and when the search for his replacement began.
Goulka said at the time that ATI was reviewing more pitches than ever. By growing, he said, the group will benefit from having more check-writers, more brainpower and more investors from diverse backgrounds. Goulka has made increasing the diversity of ATI part of his mission as director.
Most of the group’s investments have been made in Valley companies, including past investments in Yellowbird, Botco, Qwick, Better Agency, CampusLogic and WebPT.
