Capital raise by Seattle’s SeaChange Fund (formerly Seattle Angel Fund) raised more than 2x its previous fund in less than three weeks
SEATTLE, June 7, 2018 – SeaChange Fund , formerly Seattle Angel Fund, has announced the close of its fourth and most successful capital raise in its three-year history. This early-stage investment fund, creator of a professionally managed, uniquely collaborative process that’s designed to pick the best startups. The fund raised more than $4.6 million in less than three weeks, versus a typical four to six-month timeframe.
SeaChange’s largest committed capital pool yet is expected to fund up to eight new investments over the course of the next year. It will target the most promising Pacific Northwest startup companies capable of disrupting their respective markets. The typical initial investment from the investor-directed fund will range from $500,000 to $600,000.
This SeaChange Fund is the fourth in a family of funds launched in 2015. Its first fund has already significantly outperformed the market, delivering its investors $3 for every $1 dollar invested through highly successful exits.
“We’re proud of the high level of success in our investments to date,” says SeaChange Fund Managing Partner Susan Preston, “We call our investment model the Rule of One: one investor as a single point of contact, one month of due diligence, then one large check for the chosen startups. These key foundations benefit both the entrepreneur and the investor through their efficiency. Our model has succeeded so well due to our professional management, a fast, rigorous and collaborative diligence process that leverages the knowledge and experience of our brilliant investors, and the ongoing mentorship and guidance of our portfolio companies.”
Read more on Susan Preston’s ‘Evolved Investing’ post on the new SeaChange Fund website.
Preston continued, “The new name, SeaChange Fund, evokes the kinetic and evolving nature of the Pacific Northwest’s widely-reported growth surge in entrepreneurial activity. SeaChange is excited to be a leader in our region’s early-stage investor community.”
“Together as a team, SeaChange Fund’s management and investors continue to deliver not just great returns but also a unique vantage point into the region’s most disruptive technologies,” SeaChange Fund Investor Ryan Porter says, “The breadth and depth of expertise among our highly engaged members helps us all to grow as investors and to conduct a due diligence process that companies often call both their toughest and their most helpful.”
SeaChange Fund managers and investors have now begun vetting Pacific Northwest companies for investment by this new Fund, and invites early-stage companies seeking funding to learn more by connecting through the new SeaChange Fund website.
Media Contact: Eric Schudiske
ABOUT SEACHANGE FUND: SeaChange Fund, founded in 2015 as Seattle Angel Fund, has invested more than $5 million in 15 early-stage Pacific Northwest startups, across seven industries. These investments help support nearly 200 jobs in the region.