Frederick, Maryland-based Mid-Atlantic Angels, an investor group, has ended operations, effective December 28, 2018. According to MAA, the investor members invested more than $1.4 million in seven early-stage businesses during its four years of existence.
FREDERICK, MD. (PRWEB) JANUARY 02, 2019
The Founding Directors of Mid-Atlantic Angels (MAA), Frederick’s own version of “Shark Tank,” announce the cessation of operations effective December 28, 2018. During its more than 4 years of operations, MAA investor members invested more than $1.4 million in seven early-stage entrepreneurial businesses, with three of them headquartered in the Frederick region.
The decision to end operations was made based upon the recommendation of a six-person “Pivot Committee” comprised of directors, members, and sponsors who carefully considered numerous factors in what is often referred to as a SWOPT analysis (Strengths, Weaknesses, Opportunities, Problems, Threats).
MAA Managing Director Mark Greathouse indicated that his personal decision to end day-to-day involvement with MAA coupled with his focus on other endeavors provided the impetus leading to the committee formation.
In parting, MAA encourages it former investor members to be on the alert for independent opportunities to invest in entrepreneurial ventures in the region. MAA was especially appreciative of its highly supportive sponsors: Miles & Stockbridge, First United Bank & Trust, LSWG, Strategic Operations Solutions, and BMC Accounting.
Headquartered in Frederick, MAA strove to actively feed the Frederick economy by advising and obtaining investment capital for emerging technology companies through its five annual Capital Cycles. Investment options included “opt-in,” syndication, and regulation crowdfunding. As a gateway to private equity capital, MAA was excited to help entrepreneurial businesses flourish in Frederick County and the region.