Mid-Atlantic Angels Investor Member Invests in Goefer

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Early-Stage Frederick Startup Receives Investment from Member Angel Investor

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Goefer first pitched to MAA early last year. After several months of hard work by Goefer’s CEO Michael Herod and CTO Jarred Nicholls, they were invited back to MAA for a second chance to pitch this year.

Mid-Atlantic Angels (MAA), Frederick’s own version of “Shark Tank,” is pleased to announce that one of their investor members has made an equity investment in Goefer. Goefer has been incubating at the Root in the Frederick Innovative Technology Center (FITCI) on N. Market Street in Frederick. According to MAA Managing Director Mark Greathouse, “Goefer first pitched to MAA early last year. After several months of hard work by Goefer’s CEO Michael Herod and CTO Jarred Nicholls, they were invited back to MAA for a second chance to pitch this year at our March 29 Angel Event. That was the charm, as Goefer garnered an investment from an MAA member.”

The MAA investment in Goefer builds upon a recent investment in the company from winning first place in the Salisbury University’s Ratcliffe Shore Hatchery Entrepreneurship Competition. Goefer has made great strides in building out its business model centered around its affordable, power-saving, advanced power strips.

Greathouse notes, “Given the riskiness of start-up businesses, MAA must be highly-selective in assessing investment opportunities. To ensure readiness to pitch investors at our Shark-Tank-like angel events, candidate companies are screened using 20 key business criteria before facing MAA investors at an initial Pitch Review.”

To protect the privacy of our member investors, MAA does not reveal the names of their members who invest nor the amounts invested. Investors must be members of MAA and be accredited as defined by the SEC to have the privilege of investing in the early-stage companies pitched at its events. Angel events are followed by due diligence meetings in which interested investors get into the nitty-gritty of reviewing investment term sheets and questioning the entrepreneurs in greater detail. The object is to mitigate risk so far as possible before the investor opens his or her checkbook.

Headquartered in Frederick, MAA strives to actively feed the Frederick economy by advising and obtaining investment capital for emerging technology companies through its five annual Capital Cycles. Investment options include “opt-in,” syndication, and regulation crowdfunding. As a gateway to private equity capital, MAA is excited to help entrepreneurial businesses flourish in Frederick County and the region. Prospective investors may inquire about membership on the Investor Inquiries page at http://www.MidAtlanticAngels.com, while businesses seeking capital are invited to the Entrepreneur Inquiries page.

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Mark Greathouse
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