PHILADELPHIA, July 15, 2020 /PRNewswire/ -- Accelerator Venture Partners, a Philadelphia area seed-stage venture fund announced the opening and first investments of their AVP 2020 FastTrak Fund, an annual investment fund focused on early-stage companies that have successfully completed the Keiretsu Forum due diligence process. The new fund was created by Howard Lubert, Accelerator Venture Partners General Partner and Area President of Keiretsu Forum Mid-Atlantic, as a tool for new angel investors looking to quickly diversity their portfolio with the best deal flow across silos and geography. Research into successful angel investing points out that the most successful angels build a portfolio of no less than 20 fully vetted companies that are likely to deliver a 2.5x ROI.
The $1m FastTrak Fund is a concept borrowed from the San Diego Tech Coast Angels Chapter and is focused on investing up to $100,000 per deal as "first-money-in" to jump start a company's new funding round, typically lead by Keiretsu Forum Mid-Atlantic or South-East. Unlike most venture funds the annual FastTrak Fund's goal is to invest 100% of committed capital in the year the Fund is created. Also unlike most funds the limited partners in the Fund agree to participate in due diligence and serve on investment calls but do not provide any professional management to the Fund.
The first two investments made by the AVP 2020 FastTrak Fund includes Seneca Therapeutics, Inc, and Soteria Battery Innovation. The disparate silos and roadmaps to exit exemplify the diversification goals for this annual fund.
Seneca Therapeutics, Inc is based in Blue Bell, PA, intends to double the number of cancer patients who can be successfully treated by checkpoint inhibitors. Paul Hallenbeck, Ph.D. and Founder, has over three decades of senior experience in Immuno-Oncology and Oncolytic Viruses.
Soteria Battery Innovation Group is based in Greenville, SC, is focused on delivering safe lithium batteries without the risk of fire and explosion. Soteria has formed as a consortium of more than 60 for-profit suppliers, labs, and end-users to advance the delivery of game-changing technology that will improve overall safety.
"A unique aspect of the AVP 2020 FastTrak Fund is that it leverages the great deal flow that Keiretsu Forum attracts, the expertise of Keiretsu Forum Due Diligence members, and the collective mindshare from within the fund's limited partners to provide 10 exceptional investment opportunities to enhance each partner's investment portfolio," said Howard Lubert. "The plan is to offer a FastTrak Fund each year going forward to continue the process," he added.
For more information on the Accelerator Investment Partnership, please Howard Lubert at hlubert@keiretsuforum.net
For more information on Keiretsu Forum Mid-Atlantic, please visit www.keiretsuforum-midatlantic.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/keiretsu-forum-mid-atlantic-co-founder-announces-annual-accelerator-fund-for-investment-in-startups-301093396.html
SOURCE Keiretsu Forum Mid-Atlantic