Yi-Jian Ngo, a well-known figure in the Seattle startup community, has announced that he will be stepping down from his leadership role at the Alliance of Angels. Ngo has been a key player in the organization, which has grown significantly under his guidance. However, he has decided to leave in order to focus more on his family. In his absence, Maren Nelson, a board member at AoA, will be taking on the role of interim executive director.
The Alliance of Angels was founded in 1998 as part of the Technology Alliance before becoming independent in 2012. Since that time, Ngo has been instrumental in growing the organization’s membership from 60 to 180 people. AoA now invests between $4 to $6 million in startups each year, with its members reviewing over 150 deals annually. These investments are made in tech startups located in the Pacific Northwest and beyond, with over $125 million being pumped into 250-plus startups. Notable exits from these investments include companies like DocuSign and Elemental Technologies.
As Ngo steps down, AoA is in the process of raising its third annual “Innovation Fund,” which is a more structured investment vehicle that was launched in 2022. The first fund raised $1.3 million, while the second fund raised $1.9 million. This fund allows the group to make targeted investments in high-potential startups that show promise for significant growth and success. It is clear that AoA is committed to continuing its mission of supporting and investing in innovative startups in the region and beyond.
Ngo’s departure marks the end of an era for AoA, as he has been a central figure in the organization for many years. His leadership has been instrumental in the group’s growth and success, and his departure will undoubtedly be felt by those involved with AoA. However, with Maren Nelson stepping in as interim executive director, the organization is in capable hands and will continue its mission of supporting and investing in startups.
The impact of AoA’s investments in startups cannot be understated, with over $125 million being poured into more than 250 companies. These investments have resulted in numerous successful exits, demonstrating the group’s ability to identify high-potential startups and support them in their growth and development. AoA’s continued focus on innovation and investment will ensure that it remains a key player in the startup ecosystem in the Pacific Northwest and beyond.
Overall, Yi-Jian Ngo’s departure from the Alliance of Angels marks a significant change for the organization. However, with Maren Nelson taking on the role of interim executive director and the continued success of the organization’s investment efforts, AoA is poised to continue its mission of supporting and investing in innovative startups. Ngo’s legacy will undoubtedly live on in the organization, and his contributions will continue to impact the Seattle startup community for years to come.
