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n e w h a v e n b i z . c o m | J u l y 2 0 2 2 | n e w h a v e n B I Z 11 Visit washtrust.com or call 800-475-2265 Nothing cookie cutter here. GET CUSTOMIZED SOLUTIONS from a partner that values your business as much as you do. Our local teams have helped Connecticut businesses for more than 220 years, let us help you. Member FDIC. 30-minute phone screens for startups that show promise. e entrepreneurs who make the cut are invited to pitch directly to Tidal River's angel investor network before undergoing a due-diligence process. Malloy said Tidal River looks for companies that already have a lead investor that their funding can supplement. One of the benefits of pooling resources as an angel network is lower investment thresholds, she said. "Companies typically don't want individual investors on their cap table at less than $25,000," Malloy explained. "But with a [angel investor] group, we can create special purpose vehicles that allow members to make investments as low as $5,000 alongside other angel investors." Angel investor networks also create a more interactive venture capital process, said Sloan Saunders, CEO of Intellihealth, a New Canaan-based startup that he co-founded with his wife, Katherine, and Dr. Louse Aronne to scale obesity treatment through a combination of tech- enabled behavioral tools and virtual clinical care. "With traditional venture capital investments, [a startup] is talking with one person who takes the lead and brings the [investment] opportunity back to a committee," Saunders said. "With an angel investor group [like Tidal River], you can speak to a larger group who can ask their individual questions." Malloy said Tidal Rivers' pitch events — where invited startups share their business plans and funding needs — are held quarterly and have consistently drawn more than 60 women, even amidst virtual events during the height of the pandemic. Malloy is hopeful that, as Tidal River's network grows, the group will exceed $1 million in investments annually. She said the founding team is also exploring creating its own investment fund that could supplement or further enhance investments from its angel investors. Lamont said she is encouraged by the momentum she's seeing among women in venture capital. While still a small percentage, she said, the number of female venture capitalists has been growing in recent years. It's a trend she thinks is important as startups in sectors like consumer goods, health care and education technology continue to grow both nationally and in Connecticut. "When it comes to a family's healthcare or consumer decisions, most often those decisions are made by women," Lamont said. "So they can bring a lot of insight and perspective [into companies in those sectors]." n Jennie Ripps is the founder and CEO of Greenwich- based Owl's Brew, which makes organic botanical mixers and spiked sparkling tea. Sloan Saunders is the CEO of New Canaan- based startup Intellihealth. PHOTO | CONTRIBUTED

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