VentureUs is a newly launched group of Seattle-area angel investors aiming to make pre-seed and seed investments in startups across the Pacific Northwest. Comprised of managing partners Jenn Wrenn Henry, Jonathan Kagle, and Keith Laepple, the group was formed after their previous investment group, SeaChange, ceased to make investments. They decided to keep the team together and established VentureUs with a collaborative approach similar to SeaChange, but with key changes to streamline the investment process. The group plans to make 6-to-10 investments per year in startups across various industries, investing between $100,000 to $400,000 for each check.
The VentureUs investment process involves an investment board that makes the final call on investing, providing more consistency in decision-making for both membership and founders who pitch the board. The group has already backed three companies: Nowadays, an event-planning startup; Roby, a building energy management startup; and Ambassador, a customer referral startup. With over 40 investors, members also have the opportunity to make additional “sidecar” investments, allowing founders to receive larger checks and investors to double down on deals they are particularly interested in.
VentureUs is focused on attracting more people to angel investing in the Seattle startup ecosystem. Despite the presence of wealthy tech executives in the area, the lack of angel investors has been a longstanding critique. Washington state accounted for just 2.7% of all pre-seed deals in the U.S. over the past year, compared to California’s 38%, and trailing behind states such as Massachusetts, Florida, and Texas. Efforts are ongoing to generate more angel activity and educate first-time startup investors in the region, with organizations like Seattle Angel Conference, Alliance of Angels, and other initiatives working towards this goal.
Members of VentureUs are passionate about growing new investors and supporting undervalued and under-supported companies in the Seattle and Pacific Northwest region. With a background in leadership roles at companies like Microsoft, Slalom, and Starbucks, the managing partners of VentureUs aim to make a positive impact on the startup ecosystem and help facilitate the growth of innovative companies. Susan Preston, former managing partner at SeaChange, serves as an advisor to VentureUs, while former SeaChange leaders William Finney and Peter Mueller now run Seattle-based investment firm Breakwater Ventures, continuing their involvement in the startup investment space.
Overall, VentureUs is poised to make a significant contribution to the startup ecosystem in the Pacific Northwest by providing much-needed funding and support to early-stage companies. By streamlining the investment process, attracting more angel investors, and backing a diverse range of startups, the group aims to foster innovation, create jobs, and drive economic growth in the region. With a focus on making strategic investments and supporting entrepreneurs, VentureUs is well-positioned to make a positive impact on the startup landscape in Seattle and beyond.
