With famous startup events like Boston Startup Week, no doubt Massachusetts is going through amazing growth. The state has created many successful startups over the years, some of which are already worth billions of dollars.  Among other sectors, finance, healthcare, and education are the three largest fields, being responsible for 74 percent of employment.

Similarly, many of these startups got their funding from angel investors, investment networks, and VC firms. To help you select some top-ranked investors, I have prepared a list of the top 6 angel investors in Massachusetts.

Top Angel Investors in Massachusetts

Following is the list of some of the top-ranked angel investors in Massachusetts. Even though most angel investors prefer Boston startups, there are many investors who are willing to fund startups throughout the state.

Wayne Chang

LinkedIn: (3) Wayne Chang | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech

Investment Stage: Early

Investing for almost a decade, Wayne Chang is one of the most active and well-known angel investors in Massachusetts. He has been named as one of the Forbes Top 50 Angels investors and one of the 40 under 40 By Boston Business Journal.

With 80 startups in his portfolio, Wayne Chang likes to invest in startups that can grow and promise profitability. He prefers funding startups that can generate 3-5x ROI within 24 months of investment and are led by experienced entrepreneurs.

Similarly, Chang is a serial entrepreneur and investor. He utilizes his knowledge to guide his portfolio companies through mentorship programs and workshops.

The invesment range of Wayne Chang ranges from $100,000 to $500,000. Some of his portfolio companies are:

Digits: Digits is a fintech company that offers financial tools for small businesses. It is the world’s first Accounting AI, delivering clean bookkeeping, fast reports, and powerful insights. 

Patented.ai: Patented.ai is an intellectual property engine provider. The company provides intellectual property products that deliver both depth and quality of data.

Crashlytics: Crashlytics was a Boston, Massachusetts-based software company. Crashlytics helps collect, analyze, and organize app crash reports. Twitter acquired Crashlytics for over $100 million.

Jeff Fagnan

Website: Jeff Fagnan 

Investor Type: Individual Investor

Investment Interests: Tech

Investment Stage: Early and Seed

Jeff Fagnan is a well-known angel investor and the founder of Accomplice VC. He is recognized for his long-term, patient capital approach to building companies alongside mission-oriented founders and CEOs. He is also the founder of Spearhead, Maiden Lane, BOSS (Boston Syndicate), TUGG (Technology Underwriting Greater Good), TINT, and REV Boston3.

Fagnan prefers to invest in startups across various sectors. He usually invests in sectors that have massive growth potential and provide unique solutions in their related sectors. He has made around 71 investments in the last 8 years and has diverse entrepreneurial experience.

Once Jeff Fagnan funds a startup, he provides them with guidance throughout their growing journey and also monitors their performance. Unlike other investors, Jeff Fagnan usually funds startups through investor meetings and startup events.

The investment range of Jeff Fagnan ranges fro $1.5M to $3M, as he usually invests at the seed stage. Some of his notable portfolio companies are:

AngelList: AngelList is a U.S. website for startups, angel investors, and job-seekers looking to work at startups. It is the parent company of AngelList Venture, AngelList Talent, and Product Hunt. 

Orchard: Orchard is a music distribution company that empowers creators to grow and adapt in the dynamic, global industry. 

WHOOP: WHOOP is an American wearable technology company headquartered in Boston, Massachusetts. Its principal product is a fitness tracker that measures strain, recovery, and sleep. The device is best known for its use by athletes. 

Jason Robins

LinkedIn: (3) Jason Robins | LinkedIn

Investor Type: Individual Investor

Investment Interests: Tech and Media

Investment Stage: Early

With a total of 17 investments under his portfolio, Jason Robins is also a well-known investor and entrepreneur. He is also the co-founder of a famous company, DraftKings, and hosts several startup programs.

When funding startups, Jason Robins likes to fund ventures that present unique products/services. He prefers startups that have the potential to grow and usually invests through fundraisers, startup accelerators, or networking events.

Like most investors, Jason Robins also guides his portfolio companies through different workshops and related events.

The investment range of Jason Robins ranges from $100,000 to $800,000. Some of his investments include:

Knot: The Knot Worldwide is an American media and technology company that provides content, tools, products, and services for couples who are planning weddings, creating a home, and starting a family1. The company operates in 16+ countries.

Givingli: Givingli is a company focused on modernizing the gifting process. The company offers a platform for sending customizable digital greeting cards and optional eGifts, with features such as scheduling, reminders, and a wallet for managing gifts. 

Jackpot: Jackpot is an online platform designed to convert money into gift cards in real time. The company enables users to obtain an e-gift card to give or spend at a retailer of their choice instantaneously.

Jonathan Bush

LinkedIn: (3) Jonathan Bush | LinkedIn

Investor Type: Individual Investor

Investment Interests: Healthcare

Investment Stage: Early

Jonathan Bush is an active angel investor who provides funding to Massachusetts-based startups. He has funded a total of 18 companies and continues to grow his portfolio. Previously, he served as an Advisory Board Member at Innovaccer and Sana Capital and as an Advisor at Triton. He also served as a Board Member at PatientPop. 

When funding startups, Jonathan likes to invest in healthcare-related startups that are working for the betterment of the community. He mainly focuses on the ideas of the startups and invests accordingly.

Even if a startup doesn't seem to have massive growth potential, Bush believes in investing and guiding startups as long as they have strong ideas and are led by experienced individuals.

The investment range of Jonathan Bush can range upto $300,000. Some of his investments include:

SonderMind: It is a company that aims to redesign behavioral health to become more accessible, approachable, and utilized. It’s redesigning behavioral healthcare to become more accessible, approachable, and utilized.

Elation Health: It provides an Electronic Health Records (EHR) platform designed to allow physicians to focus on their patients and deliver high-quality care.

G20 Ventures

Website: G20 Ventures (g20vc.com)

Investor Type: Venture Capital Firm

Investment Interests: AI and SaaS

Investment Stage: Seed

Known as one of the biggest tech venture capital in Massachusets, G20 ventures like to fund tech startups at the Series A stage. It was founded in 2013 by Bill Willberg and Bob Hover. With a total of 50 investments in their portfolio, it is worth noting that G20 Ventures aims to go big and usually invests above $2M.

Similarly, they conduct rigorous screening tests, ensuring only the most deserving startups can secure the investment. The process begins with an online application that has to be filled out by the leader of the startup. If the startup gets selected, entrepreneurs get to pitch to the investor deck (consisting of around 3-5 investors).

Aside from their investment activites, G20 Ventures is also known for their dedication to the startup community. They arrange many startup events as well as growth programs aimed at the growth of early-stage businesses. 

The investment range of G20 Ventures ranges from $2M to $5M. Some of their famous investments are:

Fetcher: Fetcher is a platform that automates certain aspects of the job candidate sourcing process. The platform ties in with ATS products as well as Gmail and Outlook to allow recruiters to source candidates directly from LinkedIn. Fetcher raised $27 million in a Series B funding round.

Frame AI: Frame AI is an AI-driven platform for Customer Intelligence. It uses AI to estimate costs and predict revenue outcomes associated with complex customer interactions. Frame AI raised $7.6 million in funding.

CloudZero: CloudZero is a SaaS platform that automates the collection, allocation, and analysis of cloud cost data to reveal opportunities for savings. It provides engineering teams with cost data in a unified dashboard. CloudZero raised $32 million in a Series B funding round.

Hyperplane Venture Capital

Website: Hyperplane - Dream Big. Build Boldly.

Investor Type: Venture Capital Firm

Investment Interests: Tech and Real Estate

Investment Stage: Early and Seed

Hyperplane Venture Capital is also a notable VC firm that funds startups in Massachusetts. The network has funded around 30 startups and is ready to fund at least 5 ventures in 2024.

When funding startups, Hyperplane Venture Capital aims to invest in ventures that are facing strong growth and have a strong team and market idea. Once funded, Hyperplane Venture Capital also guides its portfolio companies through many startup events and numerous workshops.

The investment range of Hyperplane Venture Capital ranges from $250,000 to $3M. Notable portfolio companies are:

Butlr: Butlr is a private-by-design people-sensing platform using body heat to detect occupancy, headcount, and body posture.  Butlr has raised a total of $32.9M in funding.

ReAlpha: ReAlpha is a real estate firm that facilitates real estate investing in the vacation rental sector. ReAlpha has raised a total of $214.1M in funding.

Flume Internet: Flume Internet is a modern fiber company bringing new home broadband options. Flume Internet has raised a total of $5.2M in funding.

Wrap-Up

In conclusion, always do proper research before pitching to any of the investors. Most investors are often interested in the growth potential of the startup and select startups with the lowest competitors.

See some good examples of a pitch deck, be confident, and display your startup as a successful venture.

Good Luck!

Frequently Asked Questions