Arizona is home to around 1000 startups and is facing an exceptional boost in its startup growth. The state has witnessed 2,156 startup events in the last 12 months, thanks to famous VC firms and individual investors.

Thinking about who could be these angels who are funding startups and boosting the entrepreneurial landscape of Arizona.

Well, let’s wait no longer and jump onto this list of top 10 Angel investors in Arizona. 

Top 10 Angel Investors in Arizona

Following is a list of some of the top-ranked venture capital firms in Arizona. However, before contacting any investor, it is recommended to confirm all the details from their official sites.

Greyhawk Capital

Website: Venture Capital Company | Grayhawk Capital | Disruptive Software

Investor Type: Venture Capital Firm

Investment Interests: Customer Centric Software, Healthcare IT, Cybersecurity, FinTech, Business Productivity and Communications.

Investment Stage: Early and Seed Stage.

Headquartered in Scottsdale, Arizona, Grayhawk Capital is also a prominent venture capital firm that funds Arizona-based startups. The network was founded in 2000 by Brian N. Burns, John C. Bentley, and Sherman I. Chu. With 91 investments, they are known to be one of the most active investment firms in Arizona and prioritize early-stage networks. 

Similarly, Grayhawk Capital also has an experienced network of mentors who guide their portfolio companies. They also arrange different mentorship programs and public startup events to accelerate the startup growth.

The investment range of Greyhawk Capital can range upto several million dollars if the startup shows potential. Some of their recent investments include:

AccountNow: A financial services company.

Carefx: A healthcare IT company.

Coinstar: A retail technology company.

Gary Benitt

LinkedIn: Gary Benitt - Surfboard | LinkedIn

Investor Type: Individual Angel Investor

Investment Interests: Software, Mobile, SaaS, Consumer Products. 

Investment Stage: Pre Seed

Garry Benitt is one of the biggest and most prominent investors in Arizona. He has been funding startups for several years and continues to boost the startup landscape. As a part of Social Leverage, Gary Benitt aims to fund startups related to the software industry.

Although he doesn't conduct pitching contests, Gary still funds a wide range of startups through his participation in funding rounds. The investment range of Gary Benitt can range up to $500,000.

Arizona Tech Investors

Website: Angel Investing in Arizona : Arizona Tech Investors

Investor Type: Venture Capital Firm

Investment Interests: Tech

Investment Stage: Early Stage

Founded in 2007, Arizona Tech Investors is a network of famous entrepreneurs that fund tech-related startups. The network has funded around 42 startups since its inception and continues to expand its portfolio. 

During the investment, the investors focus on startups that can solve IT-related problems and benefit people through their services or products. They also seek profitability and provide expert mentorship to their portfolio companies.

The investment range of Arizona Tech Investors ranges from $250,000 to $1M. Some of their recent investments include:

Qwick: A Phoenix-based internet services company.

GT Medical Technologies: A medical device company.

Botco.ai: A healthcare IT and software/SaaS company based in Scottsdale.

State48 Ventures

Website: Our Team | Venture Capital Firm | State48 Ventures (state48vc.com)

Investor Type: Venture Capital Firm

Investment Interests: Adtech, Medtech, Consumer Internet, Semiconductors, B2B software, Proptech, Traveltech, and Autotech.

Investment Stage: Early Stage.

Founded in 2020, State48 Ventures is a prominent venture capital firm in Arizona. The network was founded by the same entrepreneurs who have previously led Google and Uber. During investment, they fund startups that have the potential to generate at least 3x ROI within 2 years of investment. 

The network also organizes many mentorship programs and networking events to boost the startup growth in its sector.

State48 Ventures is headquartered in Scottsdale, Arizona, and can invest up to $2M, depending on the startup. Notable investments are:

Accredible: A software/SaaS company.

Botco.ai: A healthcare IT and software/SaaS company

Ron Kundich

Website: Ron Kundich - | LinkedIn

Investor Type: Individual Angel Investor

Investment Interests: E-Commerce, Food and Beverage. 

Investment Stage: Seed

With 92 investments, Ron Kundich is also one of the top ranking individual investors in Arizona. He usually funds startups related to E-Commerce at seed stage.

During the investments, Ron Kundich mainly focuses on the growth of the startup and aims for profitability. Once the startup has secured the funding, Kundich also provides them with the guidance through his mentorship skills.

The investment range of Ron Kundich ranges from $50,000 to $700,000. He has invested in many startups including Grubmarket and Convercent. 

Arizona Founders Fund

Website: Arizona Founders Fund: Delivering seed capital to Arizona (azff.co)

Investor Type: Venture Capital Firm

Investment Interests: Healthcare, Legal, Technology

Investment Stage: Early and Seed

Arizona Founders Fund is an early-stage venture capital firm with headquarters in Scottsdale. The network was founded in 2016 and has made around ten investments. Even with a slow investment speed, Arizona Founders Fund still aims to increase their portfolio.

They have three investors that select startups from the pitching competitions and provide them with the funding. During the screening tests, the Arizona Founders Fund focuses on funding startups that have exceptional ideas and introduce solutions in the related market.

Once a startup has been funded, they also provide their portfolio companies with the required guidance to help them through different stages. The investment range of Arizona Founders Fund ranges from $50,000 to $400,000. 

PHX Ventures

Website: PHX Ventures

Investor Type: Venture Capital Firm

Investment Interests: Education, B2B Software, Real Estate

Investment Stage: Seed

PHX Ventures is a venture capital firm that was founded in 2019 by Gregg Scoresby. With a strong interest in the B2B sector, PHX Ventures aims to invest in startups that have massive growth potential.

When funding startups, the investors usually have separate Q&A stages and question startups related to various sectors of their idea. They often ask about the competition, estimated growth, suspected challenges, and required investment.

Aside from investment, PHX Ventures also strongly focuses on growth potential as they provide networking opportunities with experienced angels to their portfolio companies. The investment range of PHX Ventures ranges from $50,000 to $500,000. Some recent investments include:

Nurture Boss: Nurture Boss is a multifamily marketing platform that automates prospect follow-up and resident communication with hyper-personalized content through email and text.

CircleIn: CircleIn is an online educational platform that aims to make learning more attainable, common, and inclusive for all students.

eVisit: eVisit is a telemedicine patient engagement platform for SMB healthcare practices.

ActiveClass: ActiveClass offers collaboration space for an entire class, groups, or individuals where posts, comments, and live video calls are available.

Cave Creek Capital

Website: Home - Cave Creek Capital Management

Investor Type: Private Equity

Investment Interests: Consumer Products, Business Services, Healthcare Services, Specialty Manufacturing

Investment Stage: Seed and Late.

Cave Creek Capital is also a private equity firm that usually focuses on seed and late-stage startups. Founded in 2004 by Kevin Fechtmeyer, Cave Creek Capital has funded around 17 startups. The investors, like most other brands, focus on startups that can drive growth and have the potential to solve problems.

While Cave Creek Capital does arrange several mentorship programs, they aren't very active with other startup events focusing on funding and guiding their portfolio companies. The investment range of Cave Creek Capital ranges from $5M to $25M, depending on the startup's growth potential. Notable investments include:

VMC Group: A world leader in the design and manufacture of vibration isolation, seismic control, and shock protection products.

Bastech: A company that offers a single-source solution for all additive manufacturing needs, including 3D printing, scanning, and design.

Integro: A company that provides insurance brokerage and risk management services.

Pivotal Group

Website: Home - Pivotal Group

Investor Type: Venture Capital Firm

Investment Interests: Telecommunications, Healthcare, Media, Aerospace, Consumer Products.

Investment Stage: Seed and Late

Founded in 1982, Pivotal Group is also an investment group with a dedicated focus on tech, consumer products and healthcare startups. With founders like F.Francis Najafi, it is evident that Pivotal Group is dedicated to boosting the real estate industry of Arizona.

Throughout the year, Pivotal Group conducts two pitching competitions and funds startups that have the best achievements. The team has around 30 years of managing equity experience and will definitely help their portfolio companies by providing the best guidance.

The investment range of Pivotal Group ranges from $25M to $250M. Some portfolio companies are:

SnapNurse: An on-demand staffing platform that connects healthcare facilities with nurses for flexible shifts.

Network Solutions: A company that provides domain name registration, website design and hosting, e-commerce solutions, online security products, and search engine marketing and optimization.

Global Capacity: A connectivity as a service company that simplifies connecting Enterprises to high-value Cloud and business destinations.

Complex Ventures

Website: complexventures.com/about/

Investor Type: Venture Capital Firm

Investment Interests: Healthcare, Technology, Food and Beverage

Investment Stage: Seed

Complex Ventures is a startup studio that was founded in 2000 by Anthony Johnson, Ilya Pozin, Nikola Mickic, and Zach Ferres. The network works on startup ideas, provides guidence support, networking help as well as capital aid once the startup is ready and generating revenue.

Since its inception, Complex Ventures has made around ten investments and continues to hunt deserving startups. Like most other investors, Complex Ventures also hosts screening tests and selects the most deserving startup ideas that are worth funding. Some of their previously funded companies include:

Insurmi: A leading AI assistant transforming the insurance customer experience.

Nurseio: An on-demand staffing platform that helps nurses find consistent shifts on their schedule and get paid fast.

Qwick: An on-demand staffing as a-service platform that connects service industry professionals with food and beverage shifts in real-time.

Wrap Up

In conclusion, there are many venture capital firms in Arizona throughout different cities, including Scottsdale, Tucson, and Phoenix. However, it is important to research firms and only pitch to those that have related business interests. 

Similarly, it is also common for new business owners to feel panicked at their first investor meeting. When attending such meetings or events, always remain confident and present your startup idea as the most profitable investment.

Frequently Asked Questions