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Space Angels Network Hears Business Pitches

By Doug Messier
Parabolic Arc
February 18, 2009
Filed under

Local angels looking to help fund the right startups
Washington Business Journal

Despite the bad [economic] news, 16 Washington-area angels turned out Jan. 30 to assess the investment opportunities presented by Leesburg-based Space Angels Network LLC at the office of law firm Morrison and Foerster LLP in McLean.

The angel network, which began operating in October 2007 and is led by Managing Director Guillermo Sohnlein, connects entrepreneurs in aerospace-related industries with capital from angels around the country.

At the pitch event, six companies — with technology ranging from live, continuous video feeds from blimps and global positioning systems tracking ski-school students to unmanned vertical takeoff and landing vehicles — presented their business cases to the group of accredited investors, each with at least $2 million in net worth.

While none of the startups left with a check in hand, the angels didn’t rule out future investments.

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