The second-annual Angel Fest is happening this week, featuring headline speakers like a well-known popcorn-brand co-founder and an NFL linebacker-turned investor.
Angel Fest, an immersive, one-day conference that connects angel investors from Minnesota and beyond, will take place May 4 at Huntington Bank Stadium. The conference, led by Groove Capital's angel-investing arm, Groove Investment Group, in collaboration with Forge North, looks to help angel investors deepen their knowledge and learn more about investment strategies and trends.
The day includes panels, breakout groups, time for networking and headline speakers, including Angie Bastian, a co-founder of Angie’s Boomchickapop, as well as Dhani Jones, a former NFL linebacker who is now an investor.
Groove and Forge North, an initiative of Greater MSP focused on boosting Minnesota’s startups, held the first Angel Fest event last year in June. The immediate goal identified then was to grow the number of angel investors in the state, especially those in groups who traditionally haven’t participated in angel investing, such as people of color and women, the Business Journal reported last year.
Angel investors refer to financial backers who support startups early in their development. The title is limited to accredited investors, or people with a net worth above $1 million or an annual income above $200,000.
What’s happening in the macro-environment, such as concerns of a looming recession and the collapses of Silicon Valley Bank and Signature Bank, have impacts in early-stage venture funding, which is likely to be a major piece of discussion at the event, said Mickayla Rosard, a partner for Groove who leads its angel-investing efforts.
When funding is deployed during recessionary years, those often become an angel investors' best years, Rosard said. Common investment advice is “buy low, sell high,” which is the same for venture capital as valuations tend to be lower during recessionary periods, she explained.
“That means investors can get into deals at much more favorable terms,” she said.
Other themes of the event include showcasing the strength of the Minnesota startup ecosystem and its thought leaders, as well as highlighting the industries the state has a home-advantage in, such as health care, med-tech, CPG and more, Rosard said.
To see a full lineup of speakers, other details of the event and where to buy tickets, click here.
