CHICAGO, July 30, 2020 /PRNewswire/ -- Face-to-face connection is an important part of the fundraising process for startups, but this has become a real challenge for Midwest founders due to COVID-19. To help startups and investors build meaningful relationships regardless of geography, and kickstart the post-summer fundraising season, Sandalphon Capital this week announced the first "midwest.tech/connect" virtual summit.
Taking place September 8-10, 2020, midwest.tech/connect will match the region's startup founders with a pool of VCs and angel investors interested in investing in the Midwest, at a virtual event. The summit will facilitate one-on-one meetings between founders, VCs and angel investors based on mutual opt-in.
"The Midwest always needs more early stage capital, and COVID-19 has made the challenge much more acute," says Sandalphon Capital's managing director, Jonathan Ellis. "It's become more challenging for both founders to raise and investors to source deal flow. We thought we'd do something about it."
Totally free for founders, the three-day virtual event, midwest.tech/connect, will feature up to twelve 30-minute meeting slots every day, plenty of breaks, and bonus programming to be announced in coming weeks.
"I spent the last four years attending events across the Midwest and I've seen again and again the power of getting a critical mass of investors and founders together in one place, " Ellis notes. "At Sandalphon, we try and point founders to the best investors for them all the time, so this is our way of getting out of the way and letting everyone connect with each other without us holding up the process."
Following the August 7 application deadline, investors will be sent information on startups that match their investing criteria. Investors then choose which startups they want to meet based on the information provided. Startups are given the list of interested investors to research, with the ability to opt-out of matches they don't see as a fit. Sandalphon then schedules as many meetings as possible, and will connect any overflow after the event. Founders and investors can apply here.
Jessica Willis, founder and CEO of Ann Arbor, MI-based Pocketnest, was an early registrant. "Having already participated in a handful of virtual pitch events for our capital raise, I've seen how effective these can be. We're super excited that midwest.tech/connect is giving us this opportunity to connect with VCs across the country."
Investors are also looking forward to the event. "As the most active investor in the Midwest, M25 is excited to see midwest.tech/connect emerge as another way for us to connect to startups in the region," said M25's founder and managing partner, Victor Gutwein.
At time of press, almost 300 investors and startups have already signed up.
About midwest.tech/connect midwest.tech/connect is a three-day virtual summit connecting early stage founders across the Midwest with VCs and curated angel investors, focused on the Pre-Seed, Seed and Series A stages of fundraising. The event is totally free for founders.
About Sandalphon Capital Sandalphon Capital is a Chicago-based early stage venture capital fund focused primarily on the Midwest and other underserved markets, led by its founder Jonathan Ellis. With 24 companies backed since 2016, Sandalphon currently has investments in Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Texas, California and Toronto. Sandalphon invests at Pre-Seed to Series A stages, with a focus on Seed rounds of financing.