Wexford, PA – September 28, 2009 – Pittsburgh’s selection to host the G-20 has called the world’s attention to the city’s transformation from heavy manufacturing to clean industry and high tech. That conversion is no surprise to Catherine Mott, CEO and founder of Blue Tree Capital Group and Blue Tree Allied Angels. “Our portfolio is 89% high tech companies, which reflects not only the level of interest in growing high tech businesses, but also the interest on the part of area investors in supporting growth in that sector,” she notes. “Not only that, but over 90% of those companies who come to us for funding are also high tech.”
Angel investor networks provide between $200,000 and $5,000,000 in “gap” funding that allows new companies to move past the start-up phase to a size and level of operational efficiency that will attract serious, long-term Venture Capital.
“The companies who come to us, although still in the early stage of development, have already somewhat proven the value of their concepts, have a few customers, and now need financing to push them to the next phase. That over 90% of the companies we see are high tech is proof of the level of interest, optimism, and support for that sector in greater Pittsburgh,” added Mott. “Currently, Blue Tree Allied Angels has eighteen companies in its portfolio that are still growing and likely to ‘graduate’ to the next stage once the overall economy improves. We think this shows that Pittsburgh’s recent high tech boom is certainly sustainable.”
BlueTree Allied Angels is a network of accredited investors located in the greater Pittsburgh region. The group invests in early-stage companies located primarily in Pennsylvania and Ohio. The members-only organization of private equity investors meet monthly to evaluate and consider pre-institutional, early-stage investments. It was Western PA’s first “business model” angel network. Since its inception in 2003, the company has invested in 22 new and early-stage companies. Blue Tree Capital Group provides the management oversight and services to Allied Angels.