Cherrystone Angel Group is Expanding its Ranks

PROVIDENCE, RI – Rhode Island’s first and most active angel investment group, Cherrystone Angel Group, has announced its plans for expansion over the next year. Founded in 2004, Cherrystone invests in startup companies located within the New England region. To date, Cherrystone has invested over $20 million across 25 companies from the technology, medical device, pharmaceutical, chemical and consumer industries. Already this year, Cherrystone has deployed close to $1 million in existing portfolio companies including BoardOnTrack, Respiratory Motion and two Rhode Island based companies – NuLabel Technologies and Luna Pharmaceuticals (dba Premama). It is anticipated those rounds will go towards creating more than 10 jobs over the next year.

“As we see an increase in quality deal flow throughout the New England region, we would welcome more individuals to participate with us in this exciting, fast paced venture community” stated Jennifer Rousseau, Executive Director of Cherrystone Angel Group. Cherrystone members meet monthly to hear pitches from companies and to collaborate on making investment decisions.

According to the national authority of angel investment activity in North America, the HALO Report ranked Cherrystone as the second most active angel group in New England, based on cumulative deals between 2010 and 2015.

Cherrystone’s current members are experienced and qualified investors who have extensive experience in launching new business ventures across an array of industries. To participate in Cherrystone, individuals must qualify as accredited investors as defined by the Securities and Exchange Commission. Cherrystone currently has over 60 members, of whom 90% are Rhode Island residents.

For inquiries regarding membership, please contact info@cherrystoneangelgroup.com.

About Cherrystone Angel Group:

Cherrystone Angel Group, founded in 2004, is Rhode Island’s first and largest angel investment group. Its membership consists of experienced investors with extensive backgrounds in growing and operating businesses across an array of industries. The Group has invested $20M in 25 companies. More information is available at www.cherrystoneangelgroup.com

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