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MD Angels

AngelMD is a clinician-centered community that connects startups and investors through education, events, and managed syndicates.

Chicago, IL, USA

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Description

MD Angels, Inc. is the largest physician-based angel investment group in the Midwest, headquartered in Chicago, Illinois. The network is composed of accredited physician investors and healthcare executives who provide both capital and deep clinical expertise to early-stage healthcare startups across the United States. 
  • Seed to Series A: The group primarily focuses on early-stage companies, typically in the seed to Series A stage.
  • Maturity: They look for startups with early traction, such as clinical validation, pilot data, or commercial contracts. 
  • Method: Founders can submit their pitch materials via online application portals such as Gust.
  • Materials: A clear overview of the company, the clinical problem being solved, the solution, and the stage of development is required.
  • Transparency: MD Angels prioritizes transparency, expecting companies to provide open access to cap tables and commit to quarterly updates. 

Eligibility

  • Sectors: Exclusively healthcare investing, including medical devices, diagnostics, pharmaceuticals (repurposed drugs only), biotechnology, and digital health.
  • Geography: Headquartered in the Midwest, MD Angels invests nationally across the U.S., with a preference for Illinois Qualified New Business Ventures (QNBVs).
  • Business Profile: Startups should address real clinical pain points that physicians can validate or use. 

Process

  1. Initial Screening: The team reviews submissions for alignment with their investment criteria and mission.
  2. Pitch Day: Successful applicants are invited to a monthly "Pitch Day" to present for 10 minutes, followed by 5 minutes of Q&A.
  3. Discovery Meeting: If sufficient interest is generated, a 2-hour discovery meeting is scheduled for a deep dive into the business, market, and financials.
  4. Due Diligence: A rigorous due diligence process follows, incorporating clinical insights, regulatory review, and advanced financial modeling. 

What an Applicant can Obtain

  • Strategic Capital: Funding from a network of seasoned physician investors.
  • Clinical Expertise: Real-world feedback on usability, regulatory strategy, and patient impact from practicing clinicians.
  • Operational Assistance: Mentoring, connections, and operational support to help founders build sustainable businesses.