New Mexico Angels report: Startup growth is strong, but exits lag
By Megan Gleason / Albuquerque Journal | May 15, 2025
As New Mexico startups have steadily grown over the past five years, the nonprofit New Mexico Angels is encouraging more capital venture investments in companies that live, work and breathe New Mexico.
The organization, which aims to grow startups and high-growth companies in the state, presented findings from its 2024 venture capital report in a webinar on Wednesday.
“We see this opportunity to take this data as a way to start to promote and tell stories about New Mexico and our economy and our ecosystem,” New Mexico Angels Chair David Perez said.
The report supports the Angels’ goal of drawing more portfolio companies to the state. And it lays out recommendations to the New Mexico State Investment Council, including expanding the definition of what a New Mexico-based business is, “so those funds could have a broader opportunity to invest,” Perez said.
Perez added that the presence of 22 venture firms in New Mexico presents an opportunity to recruit later-stage portfolio companies, “who are in the growth sector looking to create a manufacturing facility, a (research and development) facility or maybe even a new HQ — to start to recruit and promote bringing those companies to New Mexico.”
“We are a very well-kept secret in New Mexico. We want to change that,” he said. “We want to create better awareness among out-of-state investors about what activity is going on here.”
