Angel investing fund Silicon Valley Growth Syndicate (SVGS) has hit a milestone, announcing its 60th technology investment to date. SVGS has invested in Baton Rouge-based Anedot, a political campaign funding platform.
“Louisiana is fertile ground for startups with top notch angel investing chapters in New Orleans and Shreveport, as well as the local area’s innovative accelerator programs and national universities,“ said L.W. McNutt, co-founder of SVGS. “Anedot is a product of the great startup community growing in Louisiana.”
Anedot provides a platform for accepting donations in person or online. The platform also gives users a way to manage donors, supporters and campaigns for nonprofits, political campaigns, and other causes.
Anedot’s platform has been used by hundreds of campaigns ranging from Presidential Candidate Carly Fiorina to several Gubernatorial, U.S. Senate and statewide political races. “We have every reason to believe this will continue not only in the political sector, but moving forward also in the religious and education sectors,” said McNutt.
SVGS has been investing in early stage companies with revenue since being founded in 2013. The fund has invested in notable startups such as Product Hunt, Cargo Chief, and Sprig.
The fund did not disclose details of the Anedot investment, but is more open about the range of past investments. “We learn as much from an initial $25,000 to $50,000 investment as others learn from investing ten times as much,” said co-founder Russell Lewis. “We like to have our initial capital used to see if a marketing program is currently in use and if it can scale. If it does, we stand ready to invest up to $250,000 in any one opportunity.”