AngelFire Ventures

Investment decisions are led by co-founders Harvey Brofman and Richard Foster. Brofman is the Managing Director and a board member of New York Angels, a network that provides significant deal flow. Foster concurrently serves as President of Foster Management & Holdings, LLC. Co-founder Andrew Appelbaum is also a member of the angel group.

Deal flow is sourced primarily through Harvey Brofman's board position at New York Angels, one of the largest and most active angel groups in the United States. This relationship is supplemented by co-investment syndication with ARC Angel Fund and the Harvard Business School Alumni Angels of Greater New York, creating a multi-channel funnel of vetted early-stage opportunities.

AngelFire Ventures operates as a structured angel syndicate, not a traditional committed-capital venture fund. The group deploys capital on a deal-by-deal basis through co-investment relationships. Harvey Brofman also conducts parallel personal investments through a separate holding company, Nine 4-Bit Slices, LLC, indicating a flexible deployment architecture rather than a blind-pool fund structure.

AngelFire targets early-stage companies, specifically at the seed and startup phases. The group does not publicly indicate participation in growth equity or later-stage rounds, maintaining a consistent focus on the earliest institutional capital entry points.

Yes. The firm holds a retail pharmacy chain in the New York Tri-State Area as an operational asset distinct from its venture portfolio. This operating business provides additional diversification beyond the group's startup investments.

Harvey Brofman serves on the board of New York Angels, a prominent angel group. Richard Foster is a charter member of TiE (The Indus Entrepreneurs), a global network for technology entrepreneurs. These affiliations are central to the firm's sourcing and co-investment strategy.

The firm supports the North American Telugu Society (NATS) India, an organization focused on community and cultural initiatives. The specific scope and scale of this support are not publicly detailed.