Special episode on what the "Big Beautiful Bill" means for angels, animal fertility control draws Texas investors, and 42% of businesses now pay for AI

Happy Thursday. In today’s issue:

• Angel Deals of the Week

• Bookmarks I think you’ll enjoy

• A Special Podcast Episode breaking down what the “Big Beautiful Bill” means for angel investors

🔥 Angel Deals of the Week

🤝 Recent funding rounds from angel networks. I have not personally vetted these deals and am sharing for informational purposes only. Have one to announce? Reply to this email.

🤖 Deal summaries generated using dealmemo.ai.

🧾 Check out every deal we’ve tracked here.

SpayVac | Single-dose animal fertility control

Participating Group: Central Texas Angel Network (CTAN)

SpayVac is developing long-lasting, single-dose immunocontraceptive vaccines for animal populations, targeting wildlife management and food production markets estimated at over $250M annually. The Wisconsin-based biotech company has demonstrated up to 95% long-term efficacy in trials across multiple species including seals, elephants, monkeys, feral horses, and deer. The company recently secured $1M in seed funding led by CTAN, with participation from CTAN Sidecar Fund and Serra Ventures. Funds will support regulatory approvals and commercial rollout as SpayVac pursues EPA registration for deer and horses while expanding into aquaculture applications.

Tom D'Orazio | $1M Seed Round | Madison, WI | July 2025 | Source

HAPPE Spine | Spinal implant material platform

Participating Group: VisionTech

HAPPE Spine is commercializing the INTEGRATE-C interbody fusion cage that supports faster bone growth through proprietary materials and manufacturing processes. The company received FDA clearance in spring 2024 and has implanted more than 300 devices in patients. The company recently secured over $250,000 from VisionTech angel investors.

Ryan Roeder | Grand Rapids, MI | May 2025 | Source

TETmedical | Rapid stroke blood test

Participating Group: Angel Investor Forum

TETmedical is a clinical-stage platform nanomedicine company developing a rapid blood test for stroke detection, targeting the 1.5 million patients who present with stroke symptoms annually. The company’ technology utilizes a miniature molecular machine that performs chemical operations thousands of times faster than antibody assays, with potential applications across multiple diagnostic markets including breast cancer, avian flu, and bacterial infections. The company recently secured $150,000 from the Angel Investor Forum as part of their $1.35 million fund, with plans to leverage the platform technology for broader medical diagnostic breakthroughs.

David Fischell | Fair Haven, NJ | May 2025 | Source

🔖 Bookmarks

1. 🎙️ Seriously, Spend an Hour on This: Last week I shared this incredible market breakdown from Benchmark’s Bill Gurley and I’m sharing it again because it’s fantastic and not enough of you clicked it.

2. 🎭 “Salvation from Slop”: Packy McCormick on why companies like Robinhood and Stripe are creating costly, uncopyable content.

3. 🤖 42%: Wow. That’s the percentage of US businesses with paid AI subscriptions according to recent estimates from Coatue and Ramp.

🎙️ Special Episode Announcement: What Does the Big Beautiful Bill Mean for Angel Investors?

On July 4, Trump’s “Big Beautiful Bill” was signed into law.

This week I read used my AI best friend to help me read all 330 pages of the bill. Here are the takeaways for angel investors.

The Good News 

1. R&D expenses can now be deducted immediately instead of spreading over five years. Example: portfolio company spends $1M on research, they get the full tax benefit upfront rather than spreading out $200K annually. This is huge cash flow impact for software, deep tech, and biotech companies.

2. Qualified Small Business Stock (QSBS) exclusion got a serious upgrade. Shareholders can now exclude up to $15M in gains per company (up from $10M), and don't need to wait the standard five years to receive benefit. Holding for three years now yields a 50% tax exclusion, and four years gets 75%. More companies qualify too - the asset limit jumped from $50M to $75M.

The Concerning Stuff 

1. International talent just got significantly more expensive to bring to the US. If founders are planning to relocate overseas hires, budget a few extra percentage points per head.

2. Clean tech investors are facing a rough 6-48 months as credits for EVs, solar, wind, and clean hydrogen etc get phased out. If you're invested in this space, consider giving your founders some TLC because they’re definitely not getting it from this administration.

3. University endowments are getting hit with additional taxes, which may choke VC capital flow. Since angels often co-invest alongside VCs, I expect a tighter funding environment for follow-on rounds.

Bottom Line 

This is generally positive for most angels, the major exception being clean tech investors. The QSBS changes alone could save hundreds of thousands on exits, and the R&D benefits could make deep tech more attractive. Just be ready for a potentially tougher institutional funding environment ahead.

Want the full breakdown? Check out my full analysis 👇

Listen now on Apple Podcasts, Spotify, YouTube, and more.

Until Next Week 👋

Thanks for reading - have a great week.

-Andrew

P.S. If you enjoyed this post, could you do me a quick favor? Hit the "like" button or leave a comment with your thoughts. It may not seem like much, but it really helps me out a ton.

If you’re finding this newsletter valuable, share it with a friend, and consider subscribing if you haven’t already. You can also find me on LinkedIn and X.