It is impossible to say if helping a young Bill Gates with his cash flow issues could have kept Microsoft in New Mexico. However, lack of access to early stage capital has historically been a critical issue for many companies trying to get a start in our state.
Thankfully, this situation is changing rapidly for the better, and the New Mexico Angels and the New Mexico Vintage Fund have been an integral part of that change.
In the last five years, this Angel investment community has provided critical early stage capital to over 40 New Mexico companies, spanning innovations from energy storage and mosquito-borne disease prevention to climate tech tackling carbon removal and advanced space systems.
In addition to funding, the Angel community has provided much-needed guidance and business expertise to fledgling companies as they pursue their dreams of turning a great idea into a profitable reality. This combination of investing time, treasure and talent has led to tangible successes for companies based in New Mexico. Successes include the acquisition of Enosemi by semiconductor giant AMD, the successful $20 million raised by UbiQD for revolutionizing how we grow crops through the use of quantum dots, and the recent partnership of BabyQuip with VRBO — all within the past year.
This vibrant and increasingly robust startup ecosystem has caught the attention of regional and national venture capital firms. According to the New Mexico Venture Capital Report, venture capital investment in New Mexico startups has grown at a compound annual growth rate of 90% over the past four years, with over $550 million in capital invested in 130 companies since 2019. The Angel investment community routinely helps companies make vital connections to these venture resources that can take startup businesses to the next level. These companies are creating hundreds of New Mexico jobs and hold the promise to create thousands of future jobs.
New Mexico has a remarkable number of talented entrepreneurs with truly innovative ideas. The New Mexico Angels and the New Mexico Vintage Fund are committed to building and sustaining a robust startup ecosystem to increase the likelihood that these great ideas turn into viable companies, and to help provide them the resources, guidance and connections needed to thrive and grow in New Mexico.
The ultimate objective is to make the state where we live, work and play much more prosperous and vibrant.
If you are interested in learning more about how to get involved in this exciting world and become a part of the New Mexico startup ecosystem, visit nmangels.com and nmvintagefund.com.
David Cremer spent his career in technology development in the private sector and at Los Alamos National Laboratory. He is now a board member of the New Mexico Angels and a limited partner with the New Mexico Vintage Funds, where he actively invests in and advises early stage New Mexico companies.
