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37 Angels
Founded by Alicia Syrett after her tenure at an alternative investment firm showed her how opaque angel networks could be, 37 Angels launched with a...
37 Angels
Founded by Alicia Syrett after her tenure at an alternative investment firm showed her how opaque angel networks could be, 37 Angels launched with a mission to standardize early-stage sourcing. The group operates as a lean collective rather than a fund, with a rotating Investment Committee — majority female at every level — that evaluates roughly 200 applicants per eight-week cycle. The model forces cohort-based education into the deal-flow funnel: investors learn due-diligence frameworks while founders get a view into exactly why their deck passed or failed. By 2023 the network had deployed capital into more than 65 companies, predominantly in enterprise software, fintech, digital health, and media. Deployment flows through a mix of direct equity investments at the pre-seed and seed stages, with check sizes ranging from $50,000 to $200,000. The network does not operate a blind pool; members opt in on a per-deal basis, which shapes a portfolio that looks more like a curated index than a shotgun spray. Known positions include companies such as Uber, Latch, and tapCommerce, where 37 Angels participated alongside institutional rounds. Geographically, deal flow concentrates in New York and San Francisco but has extended to Chicago and Austin as the network’s membership base broadened beyond its original Manhattan anchor. Syrett maintains a lean core team supplemented by an extended bench of roughly 80 angel members who cycle through the Investment Committee. Adjacent to the investment arm, the group runs an intensive bootcamp series called the Startup Forum — effectively a public-version of their internal diligence process — which has been integrated into Columbia Business School’s entrepreneurship curriculum since 2018. The firm added Morristown, NJ and London, UK presences in later years alongside a Hong Kong outpost, reflecting growing inbound interest from European and Asian family offices seeking exposure to US venture without building their own sourcing capacity. The structural differentiator is the diligence framework itself. 37 Angels operates less like a passive investor network and more like an institutional apprenticeship: investors pay to learn deal evaluation, founders pay in equity for capital, and the transparent feedback loop — rejection memos are detailed and normative — creates an observable track record that few angel groups match. This feedback-forward architecture means the network’s reputation rests on what it said no to, as much as what it backed, functioning as a public reference class for early-stage decision-making.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Additional offices
New York, United States · Hong Kong · Morristown, United States
Principals
Alicia Syrett
CEO & Founder
Sector focus
Frequently asked questions
Who runs investment decisions at 37 Angels?
Founder and CEO Alicia Syrett leads the organization, but investment decisions are made by a rotating Investment Committee composed of the network's angel members. The committee is structured to be majority female at every level, and members receive extensive training in due diligence before they participate in deal evaluation. This distributed model means no single partner controls the checkbook on any given deal.
How does 37 Angels source proprietary deal flow?
The network sources through an open application process, evaluating roughly 200 startups per eight-week cycle, combined with a cultivated pipeline from university entrepreneurship programs, accelerators, and member referrals. Columbia Business School, where Syrett teaches and the network's Startup Forum bootcamp is integrated into the curriculum, serves as a significant origination channel. The group's transparent rejection process — every applicant receives a detailed memo — also generates inbound referrals from founders who respected the feedback.
Is 37 Angels structured as a fund or a network?
It is a network, not a fund. Members invest on a per-deal basis with no blind-pool commitment, meaning each individual decides whether to participate in a given round. 37 Angels itself does not hold a pooled capital vehicle; the entity facilitates due diligence, term sheet negotiation, and post-close monitoring, but the capital flows directly from individual members to the company.
What investment stages and check sizes does 37 Angels typically target?
The network writes pre-seed and seed-stage checks typically ranging from $50,000 to $200,000. Deals are direct equity investments, not convertibles or SAFEs by default, though terms vary by round. 37 Angels generally participates in rounds with institutional co-investors rather than leading them, positioning its capital as a signal-amplifier for lead-investor processes.
Does 37 Angels maintain philanthropic or educational programs separate from its investment activity?
Yes. The Startup Forum is a bootcamp-style educational program that teaches the same due-diligence frameworks the network uses internally. It has been integrated into Columbia Business School's entrepreneurship curriculum since 2018 and operates as a distinct, non-investment activity. The Forum serves both as a public good and as a talent-scouting mechanism, but participation does not guarantee funding.
What is 37 Angels' posture on follow-on investments?
As a network rather than a fund, 37 Angels does not allocate dedicated follow-on reserves. Members may individually choose to participate in subsequent rounds of portfolio companies, and the network facilitates communication with lead investors, but there is no centralized follow-on vehicle or pro-rata enforcement mechanism. This capital-constraint model influences the network's preference for startups with near-term institutional round visibility.
Which sectors does 37 Angels focus on, and are there any it explicitly avoids?
Enterprise software, fintech, digital health, media and entertainment, and consumer technology represent the densest portions of the portfolio. The network has historically been less active in hard tech verticals — biotech, semiconductors, hardware, and deep climate science — where the capital intensity and due-diligence timelines diverge from the cohort-cycle model. No official exclusion list exists, but the preference is observable in portfolio composition.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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