The Mid-America Angels Investment Network is maintaining its fast dealmaking pace in 2017.
Based in Fairway Kan., the network recently closed on more than $1 million of investments, putting it on pace to once again exceed its annual investment totals.
The new deals bring the value of the group’s total investments in 2017 to over $1.8 million. Three of the network’s five deals represent follow-on funding for previous investments, while two investments mark new support of unnamed firms.
In 2016, the Kansas City-based network invested $3.6 million via 15 deals in startups, topping its 2015 totals of $2.8 million in nine investments.
“We are pleased to add two new companies to the MAA portfolio this year,” MAA managing director Rick Vaughn said in a release. “In addition, the fact that so many of our existing portfolio companies are continuing to grow is a great sign. This balance of maintaining our commitment to growing companies in our portfolio while also deploying capital to new, promising companies throughout the region has been key to our success over the years.”
Of the five deals, MAA announced follow-on funding of an undisclosed amount in ELIAS Animal Health, an Olathe-based company working to cure cancer in dogs. Thirty MAA investors backed ELIAS Animal Health, which is a part of Kansas City’s growing life-science and animal health community.
The funding will in part fuel the continuation of ELIAS’ canine cancer therapy clinical trials. MAA said that early immunotherapy trials were successful in lengthening the survival prognosis for dogs with osteosarcoma. Now, ELIAS is currently in trials to test the therapy’s efficacy in treating lymphoma and other forms of cancer.
Since its launch in 2006, the angel group has made 87 investments totaling over $22 million. Its portfolio includes such firms as EyeVerify, JobShakers, Life Equals, Tomboy Exchange, Kenzen and more.