Queen City Angels’ Chairman Tony Shipley testified before a House subcommittee last week on the value angel investing brings to the U.S. economy.
Shipley represented the Angel Capital Association in making his statement to the House Committee on Small Business Subcommittee on Economic Growth, Tax and Capital Access, according to a statement from Cincinnati-based Queen City Angels (QCA).
“It used to be that angel investors would make one or two investments before venture capitalists would invest in a series A round,” Shipley told the subcommittee. “Now angel groups sometimes need to make four or five rounds of investment before the entrepreneurial businesses are ‘VC ready.’”
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