Airway management draws multi-group funding, when "rolling a 0" is crazy bad, and is AI shrinking startup teams?

Happy 4th of July! Make good choices this weekend, and hopefully I’ll see you here next week with all 10 fingers still intact. 🎆

Here are your angel deals of the week, some bookmarks I think you’ll enjoy, and the best nugget from my conversation with 26-year veteran and Founder of Owners in Honor, Patrick Flood.

🔥 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.

Surgicure Technologies | Airway management device

Participating Group: TiE Angels, Beacon Angels, SideCar Angels

Surgicure Technologies is developing the Horseshoe™, a patented device for securing breathing tubes in medical settings, addressing complications from current tape-based methods that can lead to unintended extubations and associated mortality risks. The company secured $1.785 million in seed funding led by Launchpad Venture Group, with participation from multiple angel groups including TiE Angels, Beacon Angels, and SideCar Angels, to accelerate commercialization of their airway management solution.

Irena King | $1.8M Seed Round | Boston, MA | March 2025 | Source

BuildQ | AI-powered project development

Participating Group: AngelNV

BuildQ is developing an AI-powered platform that automates due diligence and deal execution for infrastructure project developers across solar, wind, energy storage, and real estate sectors. The platform claims to accelerate M&A and project financing timelines by 40%. BuildQ recently secured a $300,000 investment from AngelNV's 2025 competition, with potential additional funding reaching $600,000 through their investment syndicate and state SSBCI program matching. The funds will support growth acceleration as the company positions itself in the traditionally complex project development market.

Maryssa Barron | Las Vegas, NV | April 2025 | Source

Reach Neuro | Implantable stroke therapy

Participating Group: Angel Investor Forum

Reach Neuro develops medical devices addressing chronic disability caused by stroke and neurological disorders. The company's core product, Avantis, is a fully implantable neurostimulator and software platform targeting approximately 795,000 annual new stroke victims. The device has received FDA "Breakthrough Device" designation and demonstrated proof-of-concept in 7 human trial participants. Reach Neuro secured $125,000 from Angel Investor Forum as part of AIF's $1.35 million Fund V, which plans to invest in 8 early-stage companies.

Marc Powell | Seed Investment | Bristol, RI | May 2025 | Source

🔖 Bookmarks

1. 🎙️ Gurley’s Take on the Market: Benchmark's Bill Gurley explains the state of VC and why no one has proper incentives to mark assets accurately.

2. 🤖 AI Job Apocalypse... Maybe? Silicon Valley is split on whether AI is stealing startup jobs, but team sizes are definitely getting smaller.

3. 💸 IPO Alert: Figma filed its S-1 on Tuesday for a $1.5 billion NYSE debut under ticker "FIG" after Adobe's $20B deal collapsed.

In partnership with PitchFact

In episode 13 of The Diligent Observer Podcast, Sebastian Garzon of the Alamo Angels nailed exactly what I believe angel network leaders should focus on: "curating good quality companies and getting the right investors in the room - that's really where it's at." PitchFact handles the operational noise so you can spend time on Sebastian's “20%” - the highest-value work that only you can do.

Focus on what matters most with PitchFact

🥇 The Nugget: My Top Takeaway from a Conversation with Patrick Flood

ETA investing is about doubles, not home runs 📈

Entrepreneurship through acquisition represents a fundamentally different asset class from traditional angel investing, with a completely different risk-reward profile. While venture deals expect many zeros on the road to a few massive 10x+ returns, ETA investments target consistent 1-3x returns with significantly lower failure rates. You're buying proven businesses with existing customers and revenue streams, so these companies can't are way less likely to disappear overnight like early-stage startups so often do.

These deals sit somewhere between venture style investing and private equity, potentially appealing to angels looking for more reliable returns without the binary outcomes of venture bets.

Takeaway: Consider whether some portfolio allocation to ETA deals could make sense for your strategy. Instead of asking "Can this 100x?" ask "What's the downside protection, and how realistic is a 2-3x return over 3-5 years?" ETA investments may appeal to angels seeking diversification beyond the traditional high-risk, high-reward venture model - especially those transitioning toward more conservative investment approaches.

An Aside: Patrick and I discussed the weak definitions around the term “angel investor,” and I’ve been thinking a lot about it this week. Does anyone have good references / thought pieces on this? Please send them my way.

Want more? Check out my full conversation with Patrick👇

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

🧰 Toolkit

📊 Market Research: Get the insider scoop on venture trends with Confluence.VC Weekly. Market maps, investment memos, and brutally honest takeaways from working VCs. One of my favorite newsletters.

📍 AI Pitch Event in DFW: Attend the Texas AI Challenge Live Pitch on August 7th at SMU during Dallas Startup Week. Reserve your spot.*

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Until Next Week 👋

Thanks for reading - have a great week.

-Andrew

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