71/70 Angels Closes First Fund, Makes Initial Investments in Early-Stage Startups

Ohio Fund Brings Together Network of Nearly 50 Angel Investors to Fill Critical Funding Gap for Enterprise Software and Advanced Technology Companies

COLUMBUS, Ohio, Aug. 27, 2025 /PRNewswire/ -- Today, 71/70 Angels, the Ohio angel fund that invests in enterprise software and advanced technology startups nationwide, is announcing the close of Fund I. The inaugural fund brings together an expansive network of nearly 50 angel investors, including seasoned as well as first-time investors who bring new capital and fresh perspectives into early-stage investing. 71/70 Angels is filling critical funding gaps in the Midwest startup ecosystem, delivering support for early-stage companies with high-growth potential. The fund has come out of the gate strong, by already funding two local companies.

"71/70 Angels is built with a founder-first ethos, blending a streamlined process with Midwest grit and values," said Melinda Gloriosa, Managing Director at 71/70 Angels and Rev1 Ventures. "With this first fund closed and our early investments underway, we're taking action—backing startups with capital, along with an active network of operators, funders, and functional leaders who know how to build scalable companies."

Despite economic headwinds in 2025, investor activity remains strong. According to the Angel Investment Network, 40% of angels plan to invest more this year than last. And startups backed by angel investors show a 58% higher five-year survival rate. 71/70 Angels is tapping this momentum to strengthen the Midwest's innovation economy and open new pathways for both founders and investors.

In the first 90 days since its close, 71/70 Angels Fund I has already made two investments in high-growth companies including Ohio-based AI-driven marketing intelligence company, Nichefire, and a developer of next-generation technology for data privacy.

"I see angel investing as a powerful way to give back and help diverse entrepreneurs get the funding, mentorship, and networks they need to succeed," said Laura MacDonald, 71/70 Angel Fund investor. "71/70 is already energizing the angel investor community in Central Ohio and I know it will have a significant impact on startups nationwide."

"This is about growing a culture of innovation and entrepreneurship, while giving angel investors a strong connection to the next wave of transformative tech companies. Both new and experienced investors are directly supporting innovators, fueling job creation, economic growth, and stronger deal flow across the region," added Michael Error, 71/70 Angel Fund investor.

71/70 Angels backs seed and early-stage companies developing high-impact solutions for large and growing markets. Powered by a dedicated network of individual angel investors and supported by Rev1 Ventures, the fund is designed to streamline the funding process and accelerate growth opportunities for entrepreneurs and investors. For more about 71/70 Angels, visit www.7170angels.com.

About 71/70 Angels
71/70 Angels is an Ohio angel fund that invests in seed-stage software companies nationwide. Based in an important tech hub, 71/70 is expanding the angel community to help more entrepreneurs close critical funding rounds. Powered by Rev1 Ventures' decades of investment expertise, 71/70 ignites a dedicated and growing group of investors committed to supporting startup success. 71/70 combines a transparent funding process and formalized due diligence to improve outcomes for both startups and investors.

SOURCE 71/70 Angels