Mid-Atlantic Angel Group

What Mid-Atlantic Angel Group does

Mid-Atlantic Angel Group (legal name: Mid-Atlantic Angel Group Funds I & II, LP) is a Philadelphia-based angel investment fund founded in 2005 that operates as a member-managed limited partnership. The firm was created to bridge the funding gap between angel investing and institutional venture capital for seed and early-stage technology companies in the Greater Philadelphia Region, covering Pennsylvania, New Jersey, Delaware, New York, and Maryland. It is the first formally structured angel capital venture fund in the region.

MAG operates two investment vehicles — Fund I (formed January 2005, 12 portfolio companies, 89 LP investors) and Fund II (formed April 2009, 14 portfolio companies, 65 LP investors) — both of which are now fully invested and no longer accepting new applications. Across the 26 combined portfolio companies, MAG has deployed capital into life sciences (Ceptaris Therapeutics, Melior Discovery, Novira, Immunome), medical devices (Andante Medical Devices, STARR Life Sciences), enterprise software and cloud (SkillSurvey, CloudMine, Cloudnexa, WizeHive), diagnostics (Molecular Detection), consumer internet (TicketLeap, OneTwoSee, AboutOne.com), materials science (NanoPack), and other technology-adjacent sectors. Revenue is generated through equity returns from portfolio company exits — acquisitions, IPOs, or secondary sales — rather than product or service sales.

The firm is staffed by an Executive Director (Jeff Snellenburg, hired November 2012) and an Analyst (Justin Hanley, joined summer 2011), supported by strategic affiliations with Ben Franklin Technology Partners, Mid-Atlantic Diamond Ventures, the PA Angel Network (where Snellenburg serves as President), Delaware Crossing Investor Group, and the Angel Capital Association. MAG also maintains an educational blog covering investment topics and monetized via Amazon Associates affiliate links, but does not generate revenue from the blog as a primary line of business.

Name

Mid-Atlantic Angel Group

Legal name

Mid-Atlantic Angel Group Funds I & II, LP

Website

https://magfund.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Mid-Atlantic Angel Group is a Philadelphia-based angel investment fund operating two fully-invested vehicles (Fund I and Fund II) that have deployed seed and early-stage equity capital into 26 technology companies across the Greater Philadelphia Region. It serves accredited investors, HNW individuals, institutions, and experienced entrepreneurs.

Ownership category

akta.pro rank

Product category

Angel Investment Fund / Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Angel investment fund
• Seed stage venture capital
• Early stage equity financing
• Technology startup funding
• Private equity limited partnership

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: As an angel investment fund, Mid-Atlantic Angel Group generates returns through equity investments in seed and early-stage technology companies. Returns are realized through exits via acquisitions, IPOs, or secondary sales. Fund I and Fund II are fully invested and have completed their funding cycles.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Mid-Atlantic Angel Group (MAG) is a member-managed angel investment limited partnership that operates Fund I (formed January 2005) and Fund II (formed April 2009) to provide equity capital to seed and early-stage, technology-based, high-growth companies in the Greater Philadelphia Region (Pennsylvania, New Jersey, Delaware, New York, and Maryland). The funds pool capital from accredited investors, high-net-worth individuals, experienced entrepreneurs, and institutional investors and generate returns through exits via acquisitions, IPOs, or secondary sales. Both MAG I and MAG II have completed their funding cycles and are fully invested, with the firm currently operating in portfolio management mode rather than accepting new applications.

Product overview

Mid-Atlantic Angel Group (MAG) operates as an angel investment fund managing two investment vehicles: Fund I (formed January 2005, 12 portfolio companies, 89 investors) and Fund II (formed April 2009, 14 portfolio companies, 65 investors). Both funds have completed their funding cycles. The funds provide equity capital to seed and early-stage, technology-based, high-growth companies in the Greater Philadelphia Region (Pennsylvania, New Jersey, Delaware, New York, and Maryland). MAG also maintains an educational blog platform that covers investment topics, trading services reviews, and financial newsletter analyses.

Differentiator

Problem solved

Functional benefit

Products and services

• Mid-Atlantic Angel Group Fund I Closed-end angel capital venture fund that pools capital from accredited investors, high-net-worth individuals, experienced entrepreneurs, and institutional investors to make equity investments in seed and early-stage technology-based, high-growth companies in the Greater Philadelphia Region. Invested in 12 companies across the fund's lifecycle.
• Mid-Atlantic Angel Group Fund II Second closed-end angel capital venture fund offering the same regional investment thesis as Fund I, pooling capital from accredited investors, high-net-worth individuals, experienced entrepreneurs, and institutional investors to make equity investments in seed and early-stage technology-based, high-growth companies in the Greater Philadelphia Region. Invested in 14 companies across the fund's lifecycle.
• Mid-Atlantic Angel Group Blog Educational content platform providing investment-focused articles, market commentary, and reviews of investment services and financial newsletters for visitors interested in diversified investment strategies.

Quantifiable outcome

• Fund I: 12 companies invested, 89 investors; Fund II: 14 companies invested, 65 investors

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Angel Capital AssociationminorOthersAffiliation with the Angel Capital Association, a professional alliance of angel investors. Provides access to best practices and networking opportunities within the angel investing community.
• Ben Franklin Technology PartnerscoreStrategic or Co-development PartnerStrategic partnership with Ben Franklin Technology Partners, a major technology development and investment organization in Pennsylvania. Leverages regional technology development resources and co-investment opportunities.
• PA Angel NetworkcoreStrategic or Co-development PartnerExecutive Director Jeff Snellenburg serves as President of the PA Angel Network which supports and provides resources to angel groups and the angel community in Pennsylvania. Deep operational integration with statewide angel network.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Mid-Atlantic Diamond Ventures: Regional Mid-Atlantic angel/venture organization that is both a co-investor partner and a near-direct competitor for seed-stage deals in the same geography. Comparable in mission (bridging angel and institutional capital) and overlapping in investor base.
• Delaware Crossing Investor Group: Angel group in Doylestown and Princeton actively investing in early-stage regional companies, with overlapping geographic reach into PA and NJ. Snellenburg himself participates, making it both a co-investor and direct peer.
• Robin Hood Ventures: Philadelphia-area angel investor group focused on seed and early-stage technology and life sciences companies in the Mid-Atlantic. Closest geographically and structurally comparable angel peer in the same market.
• Emerald Stage2 Ventures: Philadelphia-based early-stage venture fund where MAG Analyst Justin Hanley also serves, indicating operational overlap. Competes for the same deal flow and LP universe in the Philadelphia market.
• Golden Seeds: Nationally organized angel investor group with a focus on early-stage companies including women-led ventures, deploying syndicated capital in similar ticket sizes to MAG and a comparable member-managed LP structure.

Broad incumbents

• Ben Franklin Technology Partners: Pennsylvania's flagship state-backed technology investment organization; a strategic partner of MAG and the dominant institutional seed/early-stage capital provider in the same geography. Significantly larger and more diversified.
• Keiretsu Forum Mid-Atlantic: Chapter of the global Keiretsu Forum angel network operating in the Mid-Atlantic, providing syndicated angel capital to seed-stage companies. Comparable business model but with national/international LP base and broader geographic reach.
• Techstars: Global accelerator and investor in early-stage technology companies, including Philadelphia-based programs. Competes for the same founder pipeline with standardized capital, mentorship, and network offerings that traditional angel funds cannot match.

Regional players

• PA Angel Network: Statewide alliance of Pennsylvania angel groups led by MAG's Executive Director as President. Functions as both a strategic partner and a meta-platform that pools deal flow from member groups across PA.

Emerging players

• Mid-Atlantic Healthcare Investment Forum: Regional investor network focused specifically on healthcare and life-sciences deals across the Mid-Atlantic. Partial overlap given the biotech/medical-device concentration in MAG's portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mid-Atlantic Angel Group