Hawaii Angels

Investment decisions are made by the network's members, each of whom votes on opportunities presented by the due diligence committee. The committee, composed of volunteer members with sector expertise, screens deals before presenting to the full group. Hawaii Angels does not have a single CIO or managing partner; it operates as a decentralized member-led network.

Hawaii Angels is neither. It is a nonprofit angel investment network that facilitates syndicated co-investments among accredited investors. It does not manage a permanent capital pool or charge management fees like a venture firm. The network's legal structure is a 501(c)(3) organization, though it has also created a separate venture fund vehicle.

Hawaii Angels targets seed and Series A rounds, with check sizes ranging from $25,000 to $150,000 per member per deal. The network typically leads or co-leads rounds alongside other angel groups or early-stage venture funds. It does not invest at later stages or in growth equity.

Historically, Hawaii Angels only facilitated direct co-investments. In recent years, it launched the Hawaii Angels Fund, a pooled vehicle that allows members to commit capital to a diversified portfolio of startups managed by the network. Family offices and institutions can use this fund for exposure to Hawaii's startup ecosystem without managing individual syndicate participation.

Hawaii Angels does not invest in real estate development, pure commodity plays, or gambling-related businesses. It has also declined deals in traditional hospitality unless the startup involves technology or sustainability innovation within that sector.

The network draws on relationships with the University of Hawaii, local accelerators (including Blue Startups), and the Hawaii Economic Development Corporation. Its island-based members often identify startups before they seek mainland capital. The network also receives referrals from West Coast venture firms and family offices in the Pacific Rim.

Hawaii Angels frequently co-invests alongside institutional venture firms and other angel groups. It has co-invested with local funds like Pacific Venture Capital and with mainland firms in deals involving Hawaii-based startups. The network does not require lead investor rights but often takes a board observer seat in its largest syndications.