Welcome to the Desert Angels. We are a Tucson, Arizona based non-profit organization of accredited investors who seek opportunities to invest in Southwest regional startup or early stage companies. The organization serves only as a forum for its over 70 members, who invest individually from their personal funds. Since 2000, Desert Angel members have invested over $10 million in more than 40 presenting companies.
Recently, Jarret Hamstreet and Micky Thompson wrote about their experiences in redesigning the Desert Angels website and integrating AngelSoft. The article was published on blogs at Eller College including Eller MBA.
To read the article highlighting the redesign of our website, click here.
Filed under: News Releases
State seeing venture capital dry up
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When Tarek Makansi went looking for money to get his Tucson-based company’s technology for energy-converting computer chips into production, he soon found he’d have to look beyond the state borders.
About two weeks ago, his Tempronics Inc. announced that it had landed a $2.7 million venture financing round led by the San Francisco-based venture firm Nth Power, which specializes in the energy sector.
Makansi, an electrical engineer who spent 21 years with IBM Corp., said the venture funding will help Tempronics move from research to prototyping and limited production of its thermoelectric computer chips.
The technology, which exploits heat conversion on the microscopic level, has the potential to create a whole new category of solid-state devices for cooling, heat conversion and power generation, Makansi said.
Though Tempronics’ venture round included investments from members of Tucson’s Desert Angels angel-investor group, the lack of local venture capital funds troubles Makansi.
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In March 2009, Tucson-based startup Salutaris Medical Devices Inc. received $1.5 million in financing from TRAC, along with funding from the Desert Angels to bring the investment to more than $2 million.
TRAC also has made investments of undisclosed amounts in Tucson-based Calimmune Inc., which is developing a stem cell HIV/AIDS therapy; and Cancer Prevention Pharmaceuticals, which is initially focused on colon cancer therapies.
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David Wichner Arizona Daily Star | Posted: Sunday, March 7, 2010
Filed under: News Releases
Tempronics Inc., a Tucson-based company developing new solid-state electronics technologies for heating, cooling and power generation, has raised $2.7 million in venture-capital financing in a deal led by the San Francisco-based venture firm Nth Power.
Tempronics is led by CEO Tarek Makansi, an electrical engineer who spent 21 years with IBM Corp. Matt Jones and Brian Walsh from Nth Power will join the Tempronics board of directors.
Investors from Tucson’s Desert Angels also participated in the financing round.
Tempronics said its nanotechnology improves energy conversion in solid-state electronics and could help boost the development of solid-state replacements for current rotary devices like compressors, gas turbines, steam turbines and electrical generators.
Tempronics contracted services from the University of Arizona Micro/Nano Fabrication Center for its early prototypes.
Filed under: News Releases