New World Angels

Angel investing with a strong medical flavour is how this Florida group describes itself in its own commentary. About a third of its deals involve medical devices, tech services and pharmaceuticals, and another third rest on improvements made possible by technology. The rest range from consumer products to manufacturing and advertising services.

Florida's active angel network

The group presents itself as a collaborative syndicate of high net worth investors who put money into early-stage companies, and as a source of seed funding for qualified start-ups. It serves founders and investors from Miami to West Palm Beach, Jacksonville, Naples, Tampa Bay, Orlando and Tallahassee. Its stated focus is early-stage companies from seed to Series A, in any sector, with a strong presence in Florida. Applications go through a funding application platform.

How it looks at medical ventures

The chairman's essay on investing in medicine sets out the questions asked of every business: the problem solved for the customer, how the answer compares with competitors, the chance of the product reaching its goals, the plan to get approved, the plan to win adoption, and the financing needed. Medicine adds complexity because there are usually two, three or more distinct customers. A hospital management tool may need approval from purchasing, a group purchasing organization, infection control, regulatory compliance and finally clinicians. The more complex the group, the more proof of traction the investors want.

The group concentrates on barriers and inertia to adoption, especially for devices and drugs, drawing on members who are practicing physicians and who note that doctors tend to resist changes to established patterns. It also looks at the value proposition for every party that a new technology touches, which can differ between patients and doctors.

Sector ventures

The site names several investment themes: consumer products, fintech covering payments, embedded finance and wealth management, healthcare, and industrial and manufacturing technology. On healthcare it states preferences for post-Phase 1 pharma and biologics with government grants, devices aligned with 510(k) predicates, and healthcare software with clear market potential.

New World Angels is an angel investing group. It has made significant investments in medical and health care technologies and says about a third of its deals fall in the medical field, covering devices, technology services and pharmaceuticals.

What New World Angels does

• Medical investment: funding for devices, tech services and therapeutics.
• Technology investment: a further third of deals rest on technology improvements.
• Other sectors: the remainder spans consumer products, manufacturing and advertising services.
• Member expertise: many members have medical and health care backgrounds.

Clients

Founders seeking investment, especially in health care. Its evaluation starts with the problem being solved, how the solution compares with competitors, the route to approval and adoption, and the financing needed. It pays particular attention to obstacles to adoption by clinicians and purchasers.

Key facts

• Chairman: Steve O'Hara
• Medical share of deals: about one third