Iscribe health tn1/5/2024 For more information, visit Tamiami Angel Fund wins big for investorsĪ bet on a health tech company has netted a healthy return for investors in a Naples-based fund. The funds are members of the Angel Capital Association and the Florida Venture Forum. Tamiami Angel Fund I, Tamiami Angel Fund II, and Tamiami Angel Fund III are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. ![]() “We have had a strong relationship with Triangle Angel Partners for multiple years and it was beneficial for both of us to add Tamiami Angel Fund III into the investor pool,” says Eva Doss, president and CEO of The Launch Place. “We’re helping put Florida on the map for entrepreneurs seeking capital for their promising startups,” says Cartwright. Co-investors included The Launch Place Seed Fund, Triangle Angel Partners and NW Tennessee Angels. Tamiami Angel Funds invested in iScribes as part of network of funds that belong to the Angel Capital Association, a national organization of angel funds. Headquartered in Naples, Fla., Tamiami Angel Funds now consist of three member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference for those in the state of Florida. Angel investors typically are wealthy individuals or families who have the means to risk their capital and give freely of their time to mentor entrepreneurs in the startup phase of a business. These investors help entrepreneurs before they seek venture capital but after they’ve exhausted money from friends and family. Jared Pelo notes: “Tamiami Angel Fund invested at a critical juncture in the growth of the company and in addition to the investment offered sage business advice.”Īngel investing is an important source of financial support and mentoring for new and emerging-growth businesses such as iScribes. But I also knew it would take technology that worked seamlessly to make scribing accessible,” says Dr. “My first medical scribe was a breath of fresh air. Pelo found something that fixed the problem. In fact, the adoption of widespread electronic medical records just made matters worse for overworked doctors, nurse practitioners and physician assistants.” Counterintuitively, technology didn’t seem to help. “Once I started practicing medicine, I quickly saw how burdensome documentation had become. IScribes began out of the frustration of co-founder, Dr. iScribes has incorporated leading security features to ensure that their technology is 100% HIPAA compliant. IScribes equips physicians with a mobile app and wearable technology to record patient visits, enabling trained virtual medical scribes to complete all necessary medical documentation. ![]() “Angel investors take significant risk on early stage companies with the understanding that only a few will reach successful exits and we are proud to say this was one of them.” “Our investment in iScribes was the kind of home run that angel investors want to hit when they invest in early stage companies,” says Timothy Cartwright, chairman of Tamiami Angel Funds. The fund invested $265,000 in the transcription service for physicians in July 2017, about four months before the company was acquired for an undisclosed amount later in 2017. Naples-based Tamiami Angel Fund III reported internal rate of return of 32% on investment in iScribes after publicly traded Nuance Communications acquired it. 25, 2018) - Tamiami Angel Funds scored an investment win recently when one of the firms it invested in was acquired by a publicly traded company. ![]() ![]() Tamiami Angel Fund III investors notched the highest return on an investment since the fund’s inception. Naples Angel Fund Posts Big Win for Investors
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