NextGen Venture Partners Launches In Baltimore
Baltimore has a growing startup ecosystem. There are incubators in place, corporations coming to the table (like UnderArmour), a local news outlet (Technically Baltimore) and now even more funding.
Funding is a major part of a startup ecosystem and sometimes it’s the hardest piece to bring to the table. Luckily the growing community of Charm City startups already has the Baltimore Angels, but now, NextGen Venture Partners has launched in Baltimore as well.
NextGen Venture Partners is a growing national network of investors that typically funds deals between seed and Series A, often a difficult place for startups to find funding. NextGen already has chapters in New York, Austin, Chicago, and Boston. Technically Baltimore reports that Atlanta and Raleigh-Durham are next on the radar.
NextGen recently held a launch meeting and a get to know them session at Baltimore’s City Garage meeting space. Even with their own local angel network, the Baltimore startup ecosystem is embracing the NextGen Angels because they offer another great avenue for funding. They typically do deals between $200,000-$600,000 and they have the backing of other branches in other cities. Although at each local chapter they try and attract between 50-100 local investors.
Brian Razzaque CEO of SocialToaster and one of the founding members of the Baltimore Chapter said“Baltimore overall benefits from a larger ecosystem…”
The Baltimore chapter of NextGen will meet monthly to hear pitches. Each member will get to decide if they want to participate in a deal.