Report ranks New Mexico Angels No. 3 most active among global startup networks
Report ranks New Mexico Angels No. 3 most active among global startup networks
By Hannah Garcia | ABQ Journal | November 8, 2025
Stuart Rose believes startups need more than funding to be successful.
“Money isn’t enough. It’s essential, but it’s not enough,” Rose, founder of the BioScience Center in Albuquerque, said.
More than that, Rose said startups also need various connections, an understanding of their customer base and the knowledge to take a product to market. Enter the New Mexico Angels, whose members invest in a multitude of startups and provide those types of services to companies looking to grow.
The organization was recently ranked the third most active network out of 72 in the Angel Capital Association in a new report.
Drew Tulchin, New Mexico Angels president, said the report, titled “Angel Network Pulse: The First 101 Deals,” was the first of its kind released by the association. The report, released last month, analyzed $288 million in funds raised between networks over the last nine months.
“It’s a testament to our entrepreneurs here in New Mexico, it reflects on the investors that are here in New Mexico, and it reflects how active we are as a community with business people helping other business people,” Tulchin said.
The report listed four New Mexico Angels portfolio companies — Spiritus, GridFlow, Terra Vera and YEEO — as being backed by the organization. Tulchin said members aim to help homegrown New Mexico companies, as well as those looking to do business in the state, noting that their portfolio reflects this and shows a strong indication of the growing market.
Like most business relationships, Tulchin said the New Mexico Angels often question where it’s helpful to a startup. Candidly, he said checks from his organization are typically smaller than other investment groups, so members go deeper with giving startups guidance and connections.
Rose said the BioScience Center helps those startups by providing laboratory space as part of its partnership with the New Mexico Angels.
When Rose founded the BioScience Center in 2012, he said the New Mexico Angels existed, but operated differently than it does today. Back then, the group was only made up of volunteers and it had no funding to give — they just pitched companies to other investors.
“The Angels have evolved over that time,” Rose said. “They have people who now invest more than $25,000 or $50,000; they’ve also created a fund and have added advisory services. They’ve created much more breadth in what they offer to the startup community.”
