September 16, 2014 | Technical.ly Philly by Juliana Reyes
The angel investment world felt insular to Jon Gosier.
He wasn’t alone. At the Goldman Sachs 10,000 Small Businesses program, Gosier, who runs data science startup D8A, met a group of Philadelphia business people who also wanted to get into angel investing but didn’t know where to start.
So they started their own fund.
Third Cohort, so named because the fund’s partners all met in the third cohort of the 10,000 Small Businesses program, invests between $10,000 to $25,000 in very early stage tech startups. They’ve already made two investments: one in New York City-based, pre-launch dream-remembrance app Shadow and another in Washington, D.C.-based “Bloomberg for Africa” startup Market Atlas. These deals have come through the partners’ networks, he said, as the fund hasn’t really started any outreach efforts yet.
Aside from investing in tech startups, the fund will also provide low-interest loans to early-stage brick-and-mortar businesses that don’t traditionally get funded by angel investors. The group wants to help “these small businesses that make up most of the economy” who may not be able to get a loan from a bank yet, Gosier said…