Angel investment firm adds 3rd chapter for life sciences (Indianapolis Business Journal)
An Indianapolis angel investment firm focused on life science startups has tapped into the backbone of the state’s orthopedics products industry.
StepStone Business Partners LLC's new chapter in Warsaw is its third after establishing a presence earlier this year at the Flagship Enterprise Center in Anderson.
Warsaw has been dubbed the “Orthopedic Capital of the World.” The northern Indiana city is home of industry giants Biomet, DePuy and Zimmer—along with numerous smaller life sciences firms.
StepStone established its first chapter, consisting of about 20 investors, in Indianapolis, about three years ago. The membership-based group brings together wealthy investors willing to chip in at least $100,000 and help evaluate promising firms.
Angel investment generally bridges the gap between the so-called friends-and-family initial funding and later stages of venture funding.
“These companies are very early-stage. They have minimum management teams. They basically have what they need and what they can afford,” said Oscar Moralez, managing partner and co-founder of StepStone.
The angel fund ...
