What WBTangels does

WBTangels, LLC is a privately held angel fund network administrator and a subsidiary of Development Capital Networks, LLC. The company administers three regional angel funds — Cowboy Technology Angels (Oklahoma), Red River Angel Fund (North Dakota), and Wyoming Smart Capital Fund (Wyoming) — all of whose members are accredited investors as defined under Rule 501 of Regulation D. WBTangels does not deploy capital itself; it provides administrative infrastructure, deal sourcing, and a national coordination layer to autonomous, member-managed regional funds that collectively vote on individual investments.

The company's core offering is built around the WBT Innovation Marketplace, an annual event held since 2002 in Arlington, Texas, which sources, screens, and presents 100 curated seed and early-stage investment opportunities annually to angels, venture investors, and corporate licensing professionals. The Marketplace draws on a network of more than 300 mentors and 75 screeners and has presented over 560 companies since inception. Complementing this, WBTangels operates the Seed Investing as a Team Sport training seminar, a one-day field program delivered in over 100 U.S. cities that has helped launch an estimated 50 angel groups over the past decade.

Revenue is generated through recurring fund administration and membership fees paid by accredited investor members of the affiliated funds. Pricing is not publicly disclosed, and the company does not employ an investment advisor. The organization is led by founder Jim Troxel and operates administrative offices in Chicago, Kansas City, Laramie, Oklahoma City, Portland, and San Diego. WBTangels does not develop or sell software, AI, or other technology products; its value proposition rests entirely on network curation, deal flow aggregation, and member education.

Name

WBTangels

Legal name

WBTangels, LLC

Website

https://wbtangels.com

Company type

Private

Founded year

1997

Operating status

Operating

Short description

WBTangels, LLC is a private angel fund network administrator that coordinates three regional accredited-investor funds in Oklahoma, North Dakota, and Wyoming, and curates annual deal flow through the WBT Innovation Marketplace and a national training seminar program.

Ownership category

akta.pro rank

Headquarters

HQ city

Oklahoma City

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Fund Administration and Membership Fees: WBTangels, LLC serves as the administrator of all WBTangel Funds. Each fund is managed by their members who pay administrative fees for network services, technology sourcing, and capital connections.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

WBTangels, LLC administers a network of affiliated angel investment funds (in Oklahoma, North Dakota, and Wyoming) whose members are accredited investors that collectively source, evaluate, and vote on seed and early-stage investments. The network leverages a national pipeline of deal flow, mentors, and screeners surfaced through the annual WBT Innovation Marketplace, and supports investor education through the Seed Investing as a Team Sport training program. Members pay administrative and membership fees for access to the network, deal-sourcing infrastructure, and training resources.

Product overview

WBTangels is a network of angel funds that invest in entrepreneurial ventures, providing a platform for accredited investors to collaborate on seed investments. The offering consists of the WBTangels angel fund network administration and facilitation services, the WBT Innovation Marketplace connecting startups with investors, and the Seed Investing as a Team Sport training seminar program. WBTangels does not offer a distinct software product; rather it serves as a coordination and administration layer for affiliated angel funds in Oklahoma, North Dakota, and Wyoming, facilitating investment opportunities and investor education.

Differentiator

Problem solved

Functional benefit

Brands

• WBT Innovation Marketplace: Since 2002, the WBT Innovation Marketplace has sourced, screened and presented seed and early stage companies and technologies to an annual audience of angels, venture investors, and corporate licensing professionals in Arlington, Texas.
• Seed Investing as a Team Sport

Products and services

• WBTangels Angel Fund Network Administration Ongoing fund administration, technology sourcing, capital connections, and deal-flow facilitation services provided by WBTangels, LLC to its affiliated angel funds (Cowboy Technology Angels, Red River Angel Fund, Wyoming Smart Capital Fund), enabling accredited investor members to participate in collaborative seed and early-stage investing.
• WBT Innovation Marketplace Annual showcase event in Arlington, Texas that sources, screens, and presents 100 best seed and early-stage investment opportunities to an audience of angels, venture investors, and corporate licensing professionals, supported by a network of over 300 mentors and 75 screeners.
• Seed Investing as a Team Sport One-day training seminar on the complete seed investing process, designed for prospective angel investors and delivered in over 100 U.S. cities, providing insights from leading seed investors and seasoned professionals on angel networks, due diligence, valuation, term sheet structuring, and deal negotiation.

Quantifiable outcome

• 560 seed and early stage companies sourced and presented to investors since 2002
• +2 more outcomes

Named customers8 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

Eleven partnerships are on record, tiered core, significant and minor.

• WBT Innovation MarketplacecoreStrategic or Co-development PartnerSince 2002, the WBT Innovation Marketplace has sourced, screened and presented 560 seed and early stage companies to an annual audience of angels, venture investors, and corporate licensing professionals. Each year, the platform taps into its network of over 300 mentors, and 75 screeners to identify and prepare 100 best investment opportunities.
• Development Capital Networks, LLCcoreOthersWBTangels, LLC is a subsidiary of Development Capital Networks, LLC. DCN seeds the growth of entrepreneurs by attracting technology, capital, and talent to help communities build innovation economies. Launched in 1997, DCN provides specialized products, services, management and training to help build innovation economies at the community level.
• Angel Capital AssociationcoreStrategic or Co-development PartnerLeading professional and trade association supporting the success of angel investors in high-growth, early-stage ventures. ACA provides professional development, industry voice, public policy advocacy and benefits to its membership of nearly 200 angel groups and more than 8,000 individual accredited investors.
• Cimarron Capital PartnerssignificantStrategic or Co-development PartnerFor over 15 years, Cimarron Capital Partners has designed, built and managed innovative fund investment programs. Robert Heard, Managing Director of Cimarron, is also part of the WBTangels leadership team. Cimarron provides asset management for institutional investors, regional investors, family offices and custom accounts.
• UAS Angel NetworkcoreStrategic or Co-development PartnerA collection of individual investors, angel groups and seed funds interested in becoming more knowledgeable about the unmanned aerial system industry for the purpose of increasing their investing acumen in that field. Focuses on the UAS/drone technology sector which includes portfolio company Vigilant Aerospace Systems.
• HalliburtonminorStrategic or Co-development PartnerGroundMetrics, a WBTangels portfolio company, partnered with Halliburton to provide the corporation's customers with more detailed data about their oil fields using advanced electromagnetic sensing technologies.
• Cowboy Technology AngelscoreChannel Partner/ Reseller/ DistributorCowboy Technology Angels, LLC is comprised of alumni and other friends of Oklahoma State University who invest in research, talent and innovation from OSU. CTA is an independent investment fund affiliated with WBTangels Network and provides investment opportunities to OSU-affiliated deal flow.
• Red River Angel FundcoreChannel Partner/ Reseller/ DistributorRed River Angel Fund, LLC is comprised of individual investors and institutions in North Dakota who support emerging entrepreneurs and growing companies in the region. The Fund has partnered with WBTangels, LLC to facilitate the investment process, provide connections to technology and capital, and tend to RRAF administration.
• Wyoming Smart Capital FundcoreChannel Partner/ Reseller/ DistributorWyoming Smart Capital Fund is comprised of individual investors and institutions in Wyoming who support emerging entrepreneurs. Each member is an accredited investor, members select their own investments and join together to support individual companies. Affiliated with WBTangels Network.
• Oklahoma State University (OSU) Research FoundationsignificantStrategic or Co-development PartnerCo-sponsor of Seed Investing as a Team Sport seminar. OSU Technology Development Center also co-sponsors. David Thomison, Assistant Professor at OSU, serves as speaker at training events. Multiple portfolio companies (Vigilant Aerospace, 3530 Technologies) have OSU connections.
• Center for Innovation and ArlingtoncoreStrategic or Co-development PartnerAnnual host of the WBT Innovation Marketplace event in Arlington, Texas. The Center for Innovation provides the venue and organizational support for the annual showcase of 100 best investment opportunities to angels, venture investors, and corporate licensing professionals.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Gust: Global SaaS platform powering angel networks, syndicates, and early-stage deal management. Directly comparable to WBTangels as infrastructure for angel fund administration and deal flow, though delivered as a tech platform rather than an event-driven network.
• AngelList: Online platform for angel investors and startups to connect, syndicate deals, and manage investments. Comparable to WBTangels as a parallel angel-investing facilitation network, though more technology-driven and broader in reach.
• Band of Angels: Silicon Valley-based angel network focusing on early-stage technology investments. Comparable to WBTangels as a member-managed angel investing group with a curated annual deal flow pipeline.
• Common Angels: Boston-based member-managed angel network investing in early-stage companies. Comparable to WBTangels in operating a member-voted, club-style angel fund without an external investment advisor.
• Angel Capital Association: Trade association representing ~200 angel groups and 8,000+ accredited investors in the U.S. Directly comparable to WBTangels as WBTangels' affiliated funds are ACA members; both serve as umbrella organizations for angel investing networks.
• Tech Coast Angels: One of the largest U.S. angel investor networks, with multiple regional chapters. Directly comparable to WBTangels' affiliated regional funds (e.g., Cowboy Technology Angels) in operating model and member-driven governance.

Emerging players

• FundersClub: Online venture capital platform enabling accredited investors to back early-stage startups. Comparable to WBTangels as a parallel channel for accredited investors to access startup deals, differentiated by online-first syndication model.
• Pipeline Angels: Angel network focused on women and non-binary founders. Comparable to WBTangels as a member-driven angel investment network with a curated deal sourcing process, though differentiated by mission-driven focus.
• Angel Investment Network: UK-based online angel investor matching platform connecting startups with investors. Comparable to WBTangels in serving as a deal-flow intermediary for angel investing, though operating as a global digital platform.

Regional players

• NewWorld Angels: Florida-based angel network investing in early-stage Florida companies. Comparable to WBTangels as a regional angel fund model, providing a useful regional comp outside of WBTangels' OK/ND/WY footprint.

Market position

Strengths5 records

Weaknesses6 records

Competitive moat4 records

Key risks6 records

Key highlights7 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

Investments

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

Frequently asked questions about WBTangels