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Wharton Alumni Angels

Wharton Alumni Angels is a global network of Penn and Wharton-affiliated investors united by a passion for backing visionary founders.

Fort Washington, PA, USA

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Description

Wharton Alumni Angels (WAA) is a global network of accredited investors who are alumni, faculty, or students of the Wharton School and the University of Pennsylvania. As of 2026, it is one of the most active university-affiliated angel groups in the world, with primary chapters in New York, San Francisco, and Philadelphia, and a reach spanning 40+ countries. 
  • Seed & Series A: This is the core focus of the network.
  • Maturity: Startups should have a functional product (MVP) and early evidence of market traction (e.g., initial revenue, pilot programs, or high user engagement).
  • Pre-Seed: Occasionally considered for founders with exceptional domain expertise or technical breakthroughs. 
  • Method: Founders apply through the Wharton Alumni Angels application portal, which utilizes the Dealum (or formerly Gust) platform.
  • Materials: A professional pitch deck, executive summary, and 3-year financial projections are required.
  • Penn Affiliation: While the investors are alumni, the founders do not need to be affiliated with Penn or Wharton to apply for funding. 
  • Bi-Monthly Cycle: WAA holds pitch events every two months throughout 2026.
  • Upcoming Cycle: Applications submitted in January 2026 are typically considered for the March 2026 pitch forum.
  • Ongoing Intake: Applications are accepted on a rolling basis year-round. 

Eligibility

  • Geography: Primarily United States-based, but they have global chapters and invest in international startups seeking U.S. market entry.
  • Sectors: Industry-agnostic. Strong historical activity in FinTech, SaaS, HealthTech, AI, and Consumer Products.
  • Round Size: Typically targets companies raising rounds between $500,000 and $3,000,000. 

Process

  1. Screening: A committee of industry specialists vets applications for scalability and technical moats.
  2. Selection: Approximately 10–12 companies per cycle are invited to a "Screening Meeting" with a smaller group of members.
  3. Pitch Day: The top 3–4 finalists present to the full network of hundreds of members during bi-monthly virtual or in-person forums.
  4. Due Diligence: Interested members form a collaborative team to conduct a 4–8 week deep-dive into the company's financials, IP, and legal standing.
  5. Investment: Members make independent investment decisions, often syndicating through a single LLC for the cap table. 

What an Applicant can Obtain

  • Elite Capital: Access to funding from a network that has invested over $100 million in 200+ companies.
  • Global Network: Direct introductions to C-suite executives at Fortune 500 companies and top-tier VC firms through the Wharton alumni database.
  • Strategic Mentorship: Hands-on guidance from members who are often former or current leaders in their respective industries.
  • Validation: Funding from WAA serves as a high-signal validation for Tier-1 Series A venture firms.